Traders brought over 1.2 billion XRP tokens to exchanges
Users expect to participate in the Spark airdrop
The total supply of XRP on exchanges exceeded 21 billion coins
International consortium of news organizations developing transparency standards.
Traders are uploading XRP to cryptocurrency exchanges that have supported the Spark airdrop. At the time of this writing, the stocks of tokens on the accounts of trading platforms exceeded 21 billion coins.
XRP Airdrop: the easiest way to claim your spark tokens
Ripple (XRP), the third largest cryptocurrency with a market capitalization of over $ 26 billion, has caused a lot of hype in the cryptocurrency space.
A day earlier, the editorial staff of BeInCrypto reported that in a few days traders transferred 121 million tokens to major exchanges. At the time of this writing, users have uploaded 1.2 billion coins to exchanges in the hope of participating in the Flare airdrop and getting free SPARK tokens.
The Flare Network project is deploying XRP-based smart contracts and hopes to attract new users through an airdrop. XRP holders expect to receive free coins and sell them as quickly as possible, making some money.
To get tokens, you need to deposit as much XRP as possible on the exchanges and wallets that have announced airdrop support. The project team will take a screenshot of the balances on December 12 and distribute to traders as much SPARK as XRP will be in their accounts at that moment.
Market in a hype
According to XRPL Monitor, users have transferred a total of over 1.2 billion XRP to Bithumb and Kraken. It is possible that these amounts will increase many times over the next two days.
Most XRP went to the largest South Korean exchange Bithumb and the American Kraken headquartered in San Francisco.
Analysis of the account data shows that 700 million XRP went to Bithumb, 397 million to Kraken. The rest of the transfers went to other major exchanges such as Coinbase, Huobi, and Binance.
Almost half of all XRP ended up on exchanges.
XRP on the verge of a new pump
As of December 9, 94,048 accounts with a total balance of 21 billion XRP can qualify for the airdrop and receive SPARK tokens. This is slightly less than half of the tokens in circulation (45.3 billion). The number of online accounts has grown by 43,146.
[2 DAYS #SPARK SNAPSHOT]
~ 94.048 accounts set up the claim for the #SPARK token
~ 21 Billion #XRP balance
426 Million #XRP holdings increased and 43.146 new #XRP accounts have been created. #XRPCommunity @FlareNetworks #UnlockingValue pic.twitter.com/QQP7KiodH0
– Ronald (@ ronaldonline777) December 9, 2020
If new network members start buying XRP before the airdrop, the cryptocurrency rate could skyrocket. However, such dynamics are always short-lived and end in a sharp collapse immediately after the event..
At the time of writing, XRP is trading at $ 0.56. During the day, the coin fell in price by more than 3%, weekly losses to 2%. Despite the drawdown, the cryptocurrency is still two and a half times more expensive than at the beginning of the year. XRP peaked on Nov 24 at $ 0.83. Since then, the coin has moved in a downtrend range.
Update to XRP Spark Token airdrop – 4 Exchanges WILL SUPPORT.
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