Coinbase Delivers Massive XRP-Related Airdrop to Crypto Holders – How to Know If You’re Eligible
Coinbase says it is now conducting an airdrop of the long-awaited crypto-asset Flare (FLR) to eligible users.
Flare Network, with its original FLR token, aims to essentially bring smart contract functionality to various blockchain networks, starting with XRP and then Litecoin (LTC).
Coinbase will deliver the FLR airdrop to users who held XRP on the exchange on December 12, 2020, which is the day Flare took its blockchain snapshot.
The leading US crypto exchange says outgoing transfers of FLR will be disabled until the airdrop is completed and the coin has sufficient liquidity on the exchange.
“As previously stated, Coinbase will honor our previous commitment to support the Flare (FLR) token airdrop for eligible users…
Once sufficient supply of this asset is established and our airdrop distribution is complete, we will announce the imminent launch of trading on our FLR-USD pair in phases.”
Coinbase will list FLR with its experimental label, which is assigned to altcoins that may have higher volatility and lower trading volume compared to more established and mainstream digital assets.
Coinbase suspended all trading of XRP back on January 19, 2021 after the US Securities and Exchange Commission sued payment company Ripple for allegedly selling XRP as an unregistered security.
Flare, along with several crypto exchanges, officially began distributing the FLR airdrop on March 17 of this year.
The coin is trading at $0.034 at press time, down 4.71% in the last 24 hours, with a market capitalization of $433.5 million.
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