Layer 1 refers to base blockchains, such as Ethereum or Solana, while oracles are third-party services that fetch data from outside a blockchain to within. The tokens amassed some $25 million in trading volumes and are listed on crypto exchanges such as OKX and Kraken.įlare, which initially aimed to become a decentralized finance (DeFi) application that utilized XRP tokens, has gradually transitioned to a layer 1 blockchain and oracle provider. They initially started trading at 15 cents apiece on Monday night, with prices dropping to just 2 cents at writing time. The airdropped tokens currently represent 15% of the project’s total supply, with the remaining scheduled to be distributed over the next three years.įLR holders would be able to vote for the way the future airdrop is distributed on Flare’s governance forums, alongside proposing other changes to the project.Īs such, the tokens were dumped almost immediately by holders, CoinGecko data shows. The airdrop was conducted on a 1:1 basis, meaning one FLR for every XRP held. Over 4.28 billion FLR tokens were shared and distributed to XRP holders who held at least one token during a snapshot in December 2020. funds (ETFs) for Bitcoin, as well as other cryptocurrencies such as XRP. Flare Token Distribution Event - Flare ☀️ 9, 2023 Binance, the worlds largest cryptocurrency exchange, recently had to lay off. Securities and Exchange Commission (SEC), accusing it of securities law violations.Flare’s FLR tokens were finally distributed to XRP holders, starting Monday night, after a nearly two-year-long wait in an event that generated massive chatter among community members. The exchange was earlier this year sued by the U.S. The decline came after the exchange suspended zero-fee trading for USDT pairs and amid heightened regulatory scrutiny. Spot trading volume on Binance slid by 26% to $212 billion, marking the lowest volume since November 2020, while derivatives volume on the exchange dropped by 16.5% to $1.10 trillion, the lowest since December 2022.Īs a result, Binance’s market share of derivatives trading has fallen to 57.4%. The report adds that leading cryptocurrency exchange Binance witnessed a decline in both spot and derivatives trading volumes. The 30-day annualized volatility of these assets plummeted to levels unseen since the year’s outset, with a peak daily volume of $24 billion traded on May 5. This announcement comes at a time when Binance and Ripple, the parent company of XRP, are both dealing with lawsuits against. That’s according to CCData’s latest Exchange Review report, which notes that the drop in trading activity can be attributed to a sustained period of narrow price movement for major cryptocurrencies, Bitcoin and Ethereum. In a recent development, the leading cryptocurrency exchange, Binance, has revealed its decision to delist and discontinue the redemption of XRPUP and XRPDOWN leveraged tokens starting from July 25, 2023, at 06:00 (UTC).

Spot trading volumes fell 21.8% last month to $494 billion, their lowest level since March 2019. The combined trading volume of both spot and derivatives on centralized cryptocurrency exchanges has fallen 15.7% to $2.41 trillion, recording its second consecutive monthly decline.

Binance xrp drop