While the first phase of the Flare Network airdrop, which Ripple (XRP) investors have been waiting for a long time, has been completed, FLR has been exposed to direct selling pressure.
Flare airdrop to be distributed to Ripple investors 2 years wait then TSI was held last night. As part of the airdrop 4.28 billion FLR to investors distributed. With the release of these tokens, FLR, which was traded on 5 major exchanges, to sales pressure exposed.
The airdrop, which is deserved in the statements made, is only 15% portion for 1 XRP will be 0.1511 FLR way distributed. The distribution of the 85% that has not yet been distributed will be determined by the governance proposal. In case of approval of the governance proposal, which can also use the earned FLRs, the remainder within 3 years month-to-month distribution and 0.08562 for 1 XRP FLR taking more achieve 1,0073 FLR in total is planned to do.
Originally called Spark and launched to be a decentralized finance (DeFi) protocol using XRP, Flare distributed the airdrop to XRP investors for this reason.
FLR Facing Sales Pressure
Investors’ FLRs from the completion of the long-awaited airdrop directly It is assumed to be sold.
According to data from CoinGecko last night 0.1from $5 FLR, which started trading, to 87% experiencing a near fall $0.02 reached and in a short time 30 million dollars created volume. OKX, ByBit and KuCoin FLR, which started trading on major crypto currency exchanges such as 75% with loss 0.037 traded in dollars.