An industry commentator has maintained her position that XRP holders are very lucky amid bullish developments related to the Flare ecosystem, including the upcoming FAsset project.
Crypto Eri, a Tokyo-based crypto YouTuber, and XRP community figure asserted in January 2021 that members of the XRP community are lucky to be investors in the crypto asset despite the prevailing bearishness at the time, as XRP changed hands at $0.24 following a 69% drop in two months.
Eri’s statement had little to do with the market conditions at the time but focused more on the innovation in the space. Notably, the Bitrue exchange had opened up trading for the Flare (FLR) token IOU against XRP. The token witnessed massive volatility, soaring by as much as 450% to 1,200%.
The IOU trading allowed investors, especially XRP holders, to trade and hold placeholder FLR tokens before the eventual airdrop distribution. Eri saw the opportunity to trade these IOUs as a way for XRP holders to understand what others expect from the token in the future.
It bears mentioning that the IOU tokens suffered massive declines last January as the airdrop distribution to XRP holders kicked off. However, sentiment has remained largely positive, especially with the innovation centered around the nascent Flare ecosystem.
“XRP Holders are Very Lucky”
In the latest disclosure, Eri maintained her position that XRP holders are indeed lucky. Nonetheless, she called attention to a recent development that she regards as a bonus for XRP proponents – the introduction of FAssets.
My tweet from 3 years ago.
I explained;
1. #XRP Holders are incredibly lucky
2. The trading of the #FLR IOU on Bitrue was a "petri dish of future trading sentiment" of the token1, 2, still apply – and we have a bonus. FAssets.
☀️2 the🌕 https://t.co/5WR17BowB2 pic.twitter.com/HxQCelaYRl— 🌸Crypto Eri 🪝Carpe Diem (@sentosumosaba) February 26, 2024
Notably, FAssets is an upcoming project from the Flare Networks team that aims to introduce smart contracts capabilities to assets that do not natively support them, including XRP. Private beta testing for the project began last November and is expected to end this quarter.
Most recently, the Flare team presented three distinct governance proposals on Feb. 20, each designed to enhance various facets of development. Notably, one of the proposals aims to fortify the security and stability of the state connector on Songbird in preparation for FAssets.
Several pundits have spotlighted the potential benefits of the FAssets project to the XRP ecosystem. In a presentation last December, the Flare team noted that the project could unlock the value of $800 billion in crypto assets, including BTC, DOGE, and XRP.
Moreover, Flare Labs, the research team behind the development of the project, disclosed last December that FAssets could help XRP holders earn yield on their tokens or bridge their tokens to other networks using LayerCake. These benefits contribute to the assertion that the XRP community is lucky.
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.
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