4 Billion XRP Held on Coinbase at Time of Flare (FLR) Snapshot: Details

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4 Billion XRP Held on Coinbase at Time of Flare (FLR) Snapshot: Details
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4 billion XRP: 8.8% of total circulating supply held on Coinbase at Flare (FLR) snapshot FLR XRPArmy XRPCommunity

has announced it has completed the Flare token airdrop distribution. Earlier in the week, Coinbase announced it was adding support for the Flare token as part of its commitment to supporting the FLR airdrop for eligible XRP users.

In a tweet, Coinbase disclosed that over 601 million Flare tokens have been distributed to eligible users. This amount is based on the XRP balance in Coinbase users' accounts, including those of Coinbase Exchange and Coinbase Pro accounts, on Dec. 12, 2020.This means the current Flare airdrop amount was derived by equating 1.0073 FLR to 1 XRP held and multiplying this by 15%.

This is interesting. It would mean 4B XRP was held on Coinbase at the time of the Flare snapshot. That's about 8.8% of total circulating XRP that was held on Coinbase at the time. The impact of the Coinbase delisting a month later was significant.

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