XFLR Breaks Through First Fib Resistance Level!First off,
support.poloniex.com
FLR is first given out as a 15% chunk. They take 15% of your XFLR and convert that to FLR. Then each month they receive more FLR they redistribute that to XFLR holders until all XFLR is gone.
Some are saying Bitrue is giving out 100% of FLR all at once.
Only 15% of FLR is being distributed at first.
Initially, the Flare network will distribute 15% of the total FLR airdrop to Poloniex and we will distribute the full amount of FLR we receive to XFLR holders. At that time, all eligible customers who hold XFLR will automatically receive FLR proportionally to their XFLR balance. As we distribute FLR to customers, we will deduct an equivalent amount of XFLR from their account. We will continue this process with each FLR distribution we receive until we have distributed 100% of the FLR airdrop amount.
This confusion between Bitrue and Poloniex, alongside extremely thin order books, is allowing for XFLR to have Massive upside.
For example, right now, as I write this, a buy order of $535,000 would push the price to 0.38.
#oncepeoplecatchonthisisgonnabehuge
Flrxrp
XFLR Thin Order BookI've discussed before how thin the XFLR Order Book is.
I figure I'd explain what I mean by that.
Let's say you had a couple million bucks to play with, and your calling was to get some Spark (FLR) token because that's gonna be the be all end all of De-Fi in the coming years.
The current price is around 0.22.
You put in a market order with $166,029.99, the price shoots up to 0.30.
You put in another order with $138,125.43, the price shoots up to 0.40.
You put in another order with $258,90.77, the price shoots up to 0.50.
You put in another order with $540,352.66, the price shoots up to 0.60.
You put in another order with $390,410.00, the price shoots up to 0.70.
So your total market order using around $1,500,000 singlehandedly caused the price to go from 0.22 to 0.70.
That's a thin order book.
All the people who are following me, put in $1,000 and we have a wall street bets scenario on our hands.
#justkidding
#dontdothat
#wellmaybeifyoureallywantto
