Cryptocurrency exchange Coinbase has announced that it will support the Flare (FLR) airdrop event for Ripple (XRP) holders. Meanwhile, Cardano founder Charles Hoskinson talked about rumors that the Ripple and SEC lawsuit will be over soon. With these developments, crypto whales continue to collect altcoins.
Coinbase will support FLR airdrop for XRP holders
The entire crypto market is watching closely because of Ripple’s lawsuit with the SEC. When the lawsuit was first raised, Coinbase was the first crypto exchange to delist XRP. However, amid the news that the case is nearing its end, Coinbase made an announcement concerning XRP holders. The crypto exchange announced that it will support the airdrop event of Flare (FLR) tokens that will be distributed to XRP holders. Coinbase shared the following on its Twitter account:
Coinbase aims to honor our previous commitment to our customers to support the FlareNetworks FLR airdrop. We anticipate that the airdrop will take place in the first half of 2023. Customers in eligible countries who are XRP holders on the 03:00 pm snapshot on December 12, 2020 on Coinbase will be eligible to receive the FLR.
However, the exchange does not guarantee support for a particular jurisdiction. However, Coinbase noted that the corresponding FLR airdrop will be generally available in Coinbase-supported jurisdictions excluding Germany, Japan, New York, and Singapore.
Whales add more altcoins
cryptocoin.comAs you follow, Ripple and the US SEC case is progressing to the Summary Judgment phase. In this environment, more and more speculation is coming to the market. But crypto whales seem unaffected by market rumors. Because they are still accumulating XRP tokens.
According to WhaleAlert data, crypto whales have purchased more than 138 million XRP tokens in the last 24 hours. This corresponds to approximately $52.1 million. Meanwhile, more than $33.2 million in XRP tokens has been purchased from crypto exchange Binance. The largest recorded transaction was also on Binance. A whale added nearly 50 million XRP tokens worth $18.84 million.
This whale buildup comes amid the recent downtrend in the crypto market. XRP price is down 1.24% in the last 7 days. The altcoin is trading at an average price of $0.3796 at press time. However, the 24-hour trading volume reached $780.2 million, with a massive 162% increase.
According to the data, a whale also moved 32 million XRP tokens (worth approximately $12.4 million) from its wallet to the Bitstamp crypto exchange. The whale is expected to seek sales opportunities here. In addition, whales moved over $55 million in XRP tokens on Saturday. 4 billion XRP transfers were made in various transactions from the Bittrex crypto exchange.
Does the Ripple case end on December 15?
Cardano founder Charles Hoskinson made a speculative comment at the AMA on December 10, 2022. Rumors of Hoskinson’s Ripple lawsuit settlement have hit the crypto market. He mentioned that the XRP lawsuit settlement will take place by December 15, 2022.
But FoxBusiness Journalist Eleanor Terrett dismissed Hoskinson’s speculations. He stated that his sources close to the XRP case confirmed that there was no truth to the December 15 settlement rumor. Meanwhile, they previously denied the rumor of November 15, 2022.
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