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Coinbase announces Spark airdrop for all XRP holders

Photo of: Nathan VDH
by Nathan VDH

Ripple’s XRP holders appreciate the airdrops, which have caused the price of the token to rise in recent weeks. Coinbase announces that it will reward these customers with Spark on December 12.

Coinbase customers with XRP on their accounts will be rewarded in the near future. These will take the form of an airdrop, literally a distribution of cryptocurrrency. Simply put, they will receive free tokens.

The American exchange has announced that it will support Flare Network, the issuer of the Spark token. And the rules of the game are simple. On December 12 at midnight, Coinbase will check the XRP balance of its users.

Depending on the amount of Ripple XRP tokens in their accounts, they will receive a proportional number of Spark. However, Coinbase has yet to specify the exact terms of this impending airdrop.

However, Coinbase has yet to specify the exact terms of this impending airdrop. “Sending and receiving will be deactivated before the snapshot time and will resume shortly after the snapshot ends,” please be sure to specify the U.S. exchange. This is likely to be a good deal for XRP holders.

CoinDesk reminds us that these airdrops tend to increase the value of the token. They are therefore a source of added value for XRP holders. In fact, 24 hours after the announcement of the crypto stock exchange, XRP earned almost 10%.

As for the choice to distribute Spark, it is by no means a matter of chance. Flare Network is a system that aims to bring the operation of the XRP Ledger closer to that of Ethereum. “Currently, very few XRP Ledger assets are trustless,” consider its creators.

The Flare Network project would not only provide additional utility to the XRP digital asset, but would also provide utility directly to the XRP Ledger,” they argue.

For Coinbase, this free distribution of tokens is part of the exchange’s desire to support the development of the ecosystem. “Supporting new networks and their projects is significant not only for the benefit of customers, but also for the continued growth of the crypto ecosystem,” said a spokesperson.