14.6 C
26 September 2023
Image default

Ripple News Today – Ripple Holders Can Now Participate in the Spark Token Airdrop – August 24th, 2020

  • Ripple Holders Can Claim Spark Tokens During the Airdrop
  • Ripple XRP is Trading in Green but it is Still Stuck In the $0.1270 $0.1280 Range 

Ripple News Today – Flare Network has been working on its mainnet for a while now and is expected to announce the date for the mainnet launch anytime soon. However, they said that members of the XRP community are free to participate in the Spark Token airdrop. Many people have already started claiming their spark tokens and they will keep taking as long as they qualify for the collection and the airdrop is ongoing. A few days ago, Flare Network asked all the XRP community members to prepare for the airdrop. Spark is the native token of the Flare Network and Flare’s partnership with Ripple is what allows XRP holders to enjoy the airdrop.

Ripple News Today – Start Accumulating Spark Tokens With Your XRP Wallet

According to Wietse Wind, the utility fork of the Flare Network is on the way. This utility fork will allow the spark token to be generated by an XRP fork. The XRP holders will be able to receive Spark tokens in a 1:1 ratio. So, at least 100 billion spark tokens have been created to match the total XRP in circulation. Keep in mind that Spark is still an independent network despite its affiliations with Ripple and the XRP token. The relationship between Flare and Ripple was established with the Ethereum Virtual Machine. It allows people to execute smart contracts on Ethereum using XRP through FXRP. All the payments on the smart contract can be made in XRP through Interledger. According to Wiest Wind said;

“Using my tool you will be guided through the process of storing a reference on your XRP ledger account to your (probably: to be generated) account on the Flare network. You can already use the tool today, even though the Flare network isn’t ready yet, and the Flare team didn’t launch their Spark token distribution program yet.

Last Friday, Bitrue was announced as the first exchange to support the utility fork that will distribute Spark tokens to all XRP token holders.”

Brad Garlinghouse also said that he is happy about the partnership with the Flare Network. In his words;

“Cryptocurrency Town Hall” a few days ago and explained that “Flare combines the best of XRP (VERY fast processing), Ethereum (Smart Contracts), and Avalanche (for consensus), helping to extend the benefits of XRP and allowing developers to create Smart Contracts for new use cases such as loans and Defi”.

XRP (XRP) Price Today – XRP / USD

Name Price 24H %
XRP(XRP) $0.2870 1.70%

Ripple XRP is Trading in Green but it is Still Stuck In the $0.1270 $0.1280 Range

In other news, the XRP token is still stuck in the $0.1270 to $0.1800 range. At the time of writing, the price of the token was $0.289060. It is up by 2.84% against the USD and up by 1.23% against Bitcoin BTC. The trading volume over a 24 hour period was $1,251,224,416 and the market capitalization was $12,991,084,180.

News Source

Related posts

51% of Real Research Users Happy About Khaby Lame Promoting Binance


IRS Commissioner Makes Crypto Tax Clarity a Priority


Cardano price analysis: ADA/USD to spike higher in the next 24 hours