Ripple CTO David Schwartz has been criticized for alleged market manipulation of Flare (FLR) tokens along with his current feedback on the FLR token airdrop.
The present Flare holding guidelines for subsequent airdrops depart completely no incentive to not promote your Flare now. You lose *nothing* when you promote now. 1/3
— David “JoelKatz” Schwartz (@JoelKatz) January 12, 2023
The Ripple CTO lately spoke in favor of promoting FLR from the Flare challenge citing the token has no worth.
Schwartz highlighted Flare’s current airdrop and focused the Flare staff claiming that they had not saved to their dedication and gave 15% of what they promised. Moreover, the CTO claimed that Flare leveraged the XRP neighborhood to develop however undermined its guarantees.
Just a few hours after his feedback, FLR tanked by 10% to $0.04367.
Regardless of some Twitter customers supporting his views, some accused him of manipulating the neighborhood to promote FLR and, one hour later, claiming to have purchased a “bunch.”
Did you get a little bit buy-in liquidity by posting this thread to your 500K XRP neighborhood followers?
“You lose *nothing* when you promote now.”
1 hour later
“I simply purchased a bunch.”
🤔— Flare Oracle (FTSO) ☀️ (@flareoracle_io) January 12, 2023
In spite of everything that, why did you then purchase flare? that’s some loopy double communicate you’ve got happening there, telling everybody why it’s good to promote, solely then to complete by saying you acquire flare. Real query
— Alt crusader (@crusader_alt) January 12, 2023
Price noting that Flare Community intends to introduce sensible contract capabilities to a number of blockchains, beginning with XRP and Litecoin (LTC).
On January 9, 4.279 billion FLR tokens had been distributed to XRP holders primarily based on a snapshot of the XRP Ledger (XRPL) taken in late 2020. With the airdropped token beginning to commerce on exchanges like Binance, OKX, and Kraken, costs rocketed above $0.076.
Nevertheless, FLR dropped by 87% shortly after token distribution began on January 9. Regardless of this, the token has rebounded considerably after the feedback of the Ripple CEO, buying and selling at $0.04451 as of press time.
