In the wake of the SEC’s lawsuit against Ripple, XRP tumbled from $0.50 to lows of just $0.20… with one analyst making the dire prediction that the embattled altcoin will be a “remnant of history” by the end of 2021. But if the headline-grabbing drama has affected Flare Networks, the project’s done a very good job of hiding it—with the start-up making a slew of announcements as it prepares for launch.
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The Spark token airdrop helped XRP soar and then crater… but why?
SPARK is the native token of Flare Networks, an unlaunched blockchain that aims to let XRP compete with Ethereum
These tokens are going to run on Flare Network, a blockchain that’s yet to launch, with the intention of delivering smart contract functionality to the XRP Ledger. But what are these tokens meant to achieve, and what effect could they have on the value of XRP as we head into 2021?
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Flare Networks completes Spark token airdrop—but XRP’s price dives
XRP has dropped about 9% since the Dec. 12 drop, suggesting people sold up once the airdrop was over
Unfortunately for the world’s third-largest cryptocurrency, the Dec. 12 event proved to be a big drag on XRP, taking it down about 9% from its price of $0.55 the day before.
