Coinbase Finally Says It Plans to Support Flare Network’s Upcoming Spark Airdrop
The smart contracts platform Flare Networks has finally got a green signal for its Spark Token Airdrop from the leading digital currency exchange Coinbase. The San Francisco-based cryptocurrency exchange has said in a blog post that it intends to support the upcoming Spark Airdrop of Flare Networks for its holders of XRP. Shortly after the announcement, the price value of the third-ranked digital currency surged high.
Coinbase to Participate in Spark distribution
Coinbase is now participating in the Spark token distribution. Users of this cryptocurrency exchange now will be able to take part in the airdrop and can claim free Spark tokens. Only holders of XRP will be allowed to get free Spark tokens. The cryptocurrency exchange said that only those users can claim spark tokens who will have their XRP balances available on Coinbase or Coinbase Pro on the day of Snapshot which is scheduled to occur on the 12th of December. As the exchange said:
“If you are an eligible customer holding an XRP balance on Coinbase or Coinbase Pro on the snapshot date and time of December 12, 2020, 00:00 AM UTC, you’ll receive Spark tokens from Coinbase at a later date after the Flare network launch. The amount of Spark you’ll receive depends on how much XRP you had in your account at the snapshot time.”
Furthermore, the exchange said while making the announcement that it will disable the process of sending or receiving XRP before the time at which the Snapshot will be taken. The service will remain disabled until the Snapshot is completed. Coinbase said that it will provide further information about the airdrop in the coming days.
Prior to Coinbase, various major cryptocurrency exchanges have already announced their support for the Spark Airdrop of Flare Networks. These include the world’s largest cryptocurrency exchange by trading volume Binance, Binance US, the cryptocurrency exchange Crypto.com, National Digital Asset Exchange (NDAX), BTC Markets, the Hong Kong-based cryptocurrency exchange KuCoin, the San Francisco-based digital currency exchange Poloniex, and many others. There are more than 40 cryptocurrency exchanges in total that are currently supporting this token airdrop of Flare Networks.
A driving factor behind the price growth of XRP
The upcoming airdrop of Flare Networks is considered a key factor that has driven the price growth of the world’s third-largest cryptocurrency by market cap XRP.
The anticipation of the Spark Airdrop has led Ripple’s native digital currency to trade in the extreme bullish zone. At the time of writing, the price value of XRP is up over five percent while trading at around $0.61.
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