Key Points:
- Binance.US successfully distributes FLR airdrop to eligible XRP holders.
- FLR’s price surges by 3%, but trading volume sees a decline post-airdrop.
- Uncertainty surrounds FLR’s future listing on Binance.US; users cautiously await trading options.
In a recent development that has set the XRP community in the United States abuzz, Binance.US has triumphantly concluded the distribution of the much-anticipated Flare token (FLR) airdrop to eligible XRP holders. XRP enthusiasts can now revel in the excitement of viewing their newfound FLR balance simply by checking their wallets.
This highly-anticipated distribution was meticulously tailored to benefit those users who had maintained a minimum balance of 10 XRP in their Binance.US accounts during the snapshot taken on December 12, 2020. These fortunate XRP holders received 15% of their claimable FLR tokens on October 25, with a distribution ratio of 0.1511 FLR per XRP.
We’re thrilled to announce that the @FlareNetworks airdrop for $XRP holders is finally here! #BinanceUS has successfully airdropped FLR on 10/25 at 10 a.m. ET to $XRP holders with a balance of ≥10 XRP during the snapshot on 12/11/20.
Learn more: https://t.co/XMLpkD6NHD pic.twitter.com/YDA9vzG06W
— Binance.US 🇺🇸 (@BinanceUS) October 25, 2023
The big news is that Binance.US has made it possible for users to withdraw their FLR tokens. However, it is crucial to be aware that the platform, at this juncture, does not support deposits or trading activities for FLR.
As for the burning question of whether Binance.US will extend its support to FLR trading, that remains an open inquiry. Binance.US emphasizes that its endorsement of the airdrop does not automatically imply the listing of FLR.
Impact on FLR Price and Trading Volume
Following the completion of the Flare token airdrop, FLR’s price has witnessed an impressive 3% surge over the past 24 hours. On the downside, the token’s trading volume has experienced a slight dip. As of the current moment, FLR is trading at $0.0096.
The drop in trading volume can likely be attributed to several factors. Firstly, many users are patiently awaiting their FLR tokens to be released from Binance.US and other exchanges. Secondly, the cautious sentiment among users regarding FLR trading could be traced back to the ambiguity surrounding its future listing on Binance.US.
Future Outlook
The successful closure of the Flare token airdrop by Binance.US is undoubtedly a significant milestone not only for the Flare Network project but also for the XRP community. The Flare token (FLR) is poised to assume a pivotal role within the Flare Network ecosystem, bolstering its functionality and utility.
As users embark on the journey of withdrawing their FLR tokens and ponder over the prospect of trading FLR, the future trajectory of the token’s price and trading volume remains an area of keen interest. The market’s response to the airdrop’s culmination, as well as Binance.US’s impending decision on extending support for FLR trading, will be watched with bated breath. The potential implications of this decision on FLR’s future are an exciting chapter yet to be written in this unfolding narrative.
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Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.
