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XRP Fork Flare Now Supported by Binance.US

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Fri, 12/04/2020 - 06:25
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Alex Dovbnya
Binance.US has become the latest exchange to announce its participation in Flare Network's Spark airdrop
XRP Fork Flare Now Supported by Binance.US
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Binance.US, the American arm of the largest exchange by reported trading volumes, will take part in Flare Network’s Spark airdrop, according to a Dec. 3 announcement

Your XRP balance snapshot will take place at a timestamp greater than or equal to 12/12/2020 00:00 AM (UTC), which is December 11, 2020 at 7pm EST / 4pm PST (the “Snapshot Period”).    

All users with a balance that exceeds 10 XRP will be able to participate in the distribution of FLR tokens in 2021.         

41 exchanges are set to airdrop the token 

Prior to that, Binance.US claimed that it would not support the airdrop while urging their users to withdraw coins elsewhere in order to participate in the event. 

As reported by U.Today, its parent exchange announced that it would distribute the token in late October. 

A similar scenario has played out with Jesse Powell’s Kraken. After its team confirmed that there were no plans to facilitate the airdrop on Nov. 28, Flare Networks then thanked the exchange for supporting it on Dec. 2.  

Over the past week, a slew of major exchanges, such as OKEx, Huobi, Bittrex, Poloniex, and Bitfinex, have come on-board. Overall, 41 exchanges are now ready to airdrop the token.     

41 exchanges
Image by @stedas

However, Coinbase, the leading U.S. crypto exchange, will not partake in the event in spite of holding a staggering 3 billion XRP tokens. As reported by U.Today, its team was reluctant to maintain communication with the team, thus riling up the XRP community.      

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JUST IN: Ripple Now Offers XRP Loans to RippleNet Customers

Ripple is not part of the conversations

The frenzy surrounding the Dec. 12 airdrop is believed to be one of the main reasons behind XRP’s 85 percent rally.

During a recent interview with CNN, Brad Garlinghouse described Flare Networks as a “very exciting startup”:

To me it’s just a further example of people’s recognition that XRP is such an efficient digital asset...Utility will drive the long-term value of any digital asset. Seeing a company like Flare Networks and seeing them use the XRP network in various ways, I think, is an opportunity that could go forward but it doesn’t affect RippleNet customers.

He added that XRP holders were “deservingly excited” about the airdrop. When asked whether he was concerned about Coinbase not participating, he mentioned that Ripple wasn’t part of those conversations:

Certainly, we want to be supportive and helpful but we are letting them take the lead.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.