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Don't Forget to Claim Your Spark from Flare!!!


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2 minutes ago, Danny said:

And it's trying to break the resistance level. Must admit I'm very pleasantly surprised by what the IOU has been doing so far. 

Yeah I can barely believe it. I started accumulating around 20 cents, and I must admit the first time it went above 50 cents I was selling like mad because I thought that was an insane price :lol: Then I did the same above a dollar! After that I accepted that this thing was going way higher than I thought and just started buying dips.

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1 minute ago, WarChest said:

Any news on when Ledger will have support for the Spark token?

 

No I'm afraid not. Likely the places to hold your spark will either be in the Flare wallet or on an exchange for a little while. 

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4 minutes ago, NMNR said:

I missed the snapshot date. Oh well.

Still possible to buy IOUs on Bitrue but as you can see the price is very high at the moment. I would wait for the launch date and no doubt we will see lower prices where you can pick some up.

Also you will be able to earn FLR from your XRP if you put them onto the Flare network.

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1 hour ago, Seoulite said:

FLR IOUs are currently trading at $2.10(!) on Bitrue (yes, you read that right). People generally think that this is not reflective of the true price at launch, however the very fact that it has traded at these levels is significant.

Please bear in mind that on bitrue

image.thumb.png.a1fb362c18c2bcd39d164681cdf39444.png

There is a total supply of 450k tokens, and trade volume of 290k, which is such a tiny amount that a handful of xrpchat readers (or a single one of the early adopters), will use this liquidity in a single sell on day 1. I cannot see that price being sustained after the network goes live. Are there other exchanges with more FLR trade volume and similar prices?

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Posted (edited)
13 minutes ago, jbjnr said:

Please bear in mind that on bitrue

image.thumb.png.a1fb362c18c2bcd39d164681cdf39444.png

There is a total supply of 450k tokens, and trade volume of 290k, which is such a tiny amount that a handful of xrpchat readers (or a single one of the early adopters), will use this liquidity in a single sell on day 1. I cannot see that price being sustained after the network goes live. Are there other exchanges with more FLR trade volume and similar prices?

A couple of months ago I would've put a heavier disclaimer, but given that the price has reached these levels and buyers have not been overwhelmed with sellers, I am forced to conclude that either this is the generally agreed reasonable price and/or the price is being kept this high for some reason. I thought it would fall when xrp rose, which it did, but it was held above a dollar. 

As I said above, when it went above 50 cents I was certain people would be rushing to sell. They didn't. Same above a dollar. Even above two dollars people are not selling. If these are such ridiculous prices, and the real price is closer to 5 cents, then current prices at 40x(!) higher than that, and people should be selling as fast as they can. I've thought this for two months and it still hasn't happened. Either the price is going to be destroyed on the launch and this is a huge pump and dump, or something special is going on here. 

If this price was a pump on tiny volume that lasted a couple of days I would agree it is very suspect. But it's lasted two months and is still going...

Edited by Seoulite
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They are only releasing 15% of the spark tokens to you on launch. Then 3% every month over the next 3 years if I'm right.

This means there will be created scarcity (low available supply) of the token and with a decent demand this will boost the price up hard. This al depending on if the tech really delivers to what they are saying but the hype is already, judging on social activity. Coupled with the Flare Finance snapshot 1 month after the launch of Flare Network will create an explosive upward trend I believe. 

Flare Finance is also really promising so holding spark for another free token is easy money.
 

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6 hours ago, jbjnr said:

There is a total supply of 450k tokens, and trade volume of 290k, which is such a tiny amount that a handful of xrpchat readers (or a single one of the early adopters), will use this liquidity in a single sell on day 1. I cannot see that price being sustained after the network goes live. Are there other exchanges with more FLR trade volume and similar prices?

Maybe, but on "day one" Spark will be trading on loads of supporting exchanges (with many new users with previously no access to Spark) and there may be unexpected demand for the token as well as possible heavy selling pressure. I expect many folks will want to hold FLR to use in the defi protocol later this year and to claim the YFLR tokens, which are based on your FLR holdings. So I don't think it's as clear cut as it seems. But as with anything, it will come down to simple supply-demand mechanics, so who knows. 

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How much XRP realistically do you folks think will be brought over to Flare to earn rewards for minting f-assets? Even a conservative 5% of the circulating XRP supply coming onto Flare will create *immense* buying pressure for Spark. And then when you start to think about Doge, XLM, LTC and many others yet to be announced... eventually BTC surely. Imagine 1% of *that* coming onto Flare!

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8 hours ago, NMNR said:

I missed the snapshot date. Oh well.

Just confirming - you mean you owned no XRP on 12DEC2020 ? 
( because if you did, the question is where was it on that day )

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