Flare Network Airdrop to XRP Holders Begins: FLR Token Drops 55% Ahead of Launch

• In late 2020, the Flare Network announced an airdrop of its Flare (FLR) tokens to all XRP holders.
• Just before the launch, the FLR/USDT trading pair on Bitrue saw a massive dump of around 71%, causing the token to drop from $0.5394 to $0.2395 at press time.
• The FLR Token Distribution event is just 24 hours away, with the stream starting a few minutes before 23:59 UTC.

The Ripple (XRP) community has been abuzz with the news of the Flare Network’s announcement of an airdrop of its Flare (FLR) tokens to all XRP holders. The creators of the project had intended to open up the DeFi space for Ripple and the airdrop was seen by many as a major step in that direction. However, holders of XRP had to be patient for a long time as the launch was postponed several times.

But now, the time has finally come. The FLR Token Distribution event is just 24 hours away and the Flare team and guests will be live on Twitter tomorrow at 6:59 p.m. EST. The stream will start a few minutes before 23:59 UTC sharp.

Unfortunately, just before the launch, the FLR/USDT trading pair on Bitrue saw a massive dump of around 71%, causing the token to drop from $0.5394 to $0.2395 at press time. With this, the FLR token is still posting a loss of around 55% compared to two days ago.

The market situation has dampened some of the enthusiasm of the XRP holders in anticipation of the airdrop. However, the Flare team is confident that the launch will still be a success and will help to further increase the adoption of the token. With the launch of the Flare Network, Ripple holders will now have access to a wide range of decentralized finance (DeFi) services which was previously not available.

It remains to be seen how the launch of the Flare Network will affect the XRP community and the FLR token in the long run. But for now, all eyes are on the FLR Token Distribution event and the Ripple (XRP) community is eagerly awaiting the launch.