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HomeCrypto NewsMarketCoinbase Finally Lists Flare (FLR), is XRP Next?

Coinbase Finally Lists Flare (FLR), is XRP Next?


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Post Updated: (April 11, 2023, @ 17:29:47 UTC). Coinbase said it would start distributing the Flare airdrop to previous XRP holders on its platform, as promised last December.

Coinbase has finally listed the Flare (FLR) token following months of persistent calls from the XRP army. The latest development has elicited further agitation for the exchange to relist XRP, given Flare’s close relationship with the XRP ecosystem.

In a tweet today, Coinbase said it would only support FLR on the Flare Network. According to the tweet, the American exchange has already enabled deposits for FLR to its platform in regions where trading for the asset is supported.

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Users are expected to make deposits to their wallets through the Flare Network. The use of any other network will result in a loss of funds. As part of the announcement, Coinbase also revealed that it will begin distributing the FLR airdrop today.

The exchange promised in December 2022 that it would support the FLR airdrop for XRP holders but failed to do so in January when the broader distribution began, as it had not listed FLR then. The airdrop will be distributed to wallets holding XRP tokens during the snapshot on December 12, 2020. Coinbase had not suspended support for XRP then.

The airdrop is expected to begin today, with withdrawals suspended during the process. Moreover, trading for FLR will begin once the exchange confirms enough liquidity. After the distribution and the confirmation of viable liquidity, Coinbase will announce the FLR/USD trading launch.

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FLR Airdrop Distribution Starts

As per the latest report, Coinbase has started distributing Flare airdrop to XRP holders.


Is XRP Next?

The recent move follows several calls made by XRP proponents who have persistently requested that Coinbase list FLR and distribute the airdrop. It bears mentioning that the Flare project initially began on the XRP Ledger but gradually made a transition to its layer-1 blockchain, the Flare Network.

Given the close relationship between FLR and XRP, proponents have intensified their agitation to see XRP relisted on Coinbase. Recall that Paul Grewal, Coinbase’s Chief Legal Officer, disclosed last week that Coinbase agrees with Ripple’s position on what constitutes an investment contract. 

However, Grewal noted last month that, even if the court rules in Ripple’s favor, Coinbase would not immediately resume support for XRP, as it would need to carry out its own due diligence to ascertain that the ruling will not be overturned.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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