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With just under two weeks before the Flare Network airdrop goes live, some cryptocurrency exchanges have not confirmed that they will be taking part in cryptocurrency distribution and it may be too late to do so at this point.
Flare Networks, which is a smart contract utility fork of XRP, will release more than 45 billion of its native Spark token on December 12. Anyone who owns Ripple (XRP) tokens up to this point will be able to trade XRP for Spark on a 1: 1 ratio.
Airdropping tokens are a way for new cryptocurrency projects to introduce their new startup. Many major cryptocurrency exchanges, such as Binance, have announced that XRP holders taking advantage of their platforms will be able to benefit from the free Spark token airdrop. The imitation was first announced on November 13 by Flare Networks and dubbed “The Spark Airdrop Program”.
Although the owners of XRP were anticipating this moment, not everyone will benefit from the Spark token airdrop. Coinbase, the US-based digital asset exchange, as well as Kraken, have failed to confirm their commitment. This hasn’t been overlooked by Flare Networks, as they had previously tweeted a reminder for many major cryptocurrency exchanges.
With approximately $ 3 billion worth of XRP held on Coinbase, Flare Networks has brought it to light. Catching the attention of XRP investors, the Ripple-powered blockchain fork tweeted:
“@Coinbase has barely committed to #Flare. They contain about 3 billion of YOUR #XRP. At this point it is probably too late to support the Spark $ FLR distribution.”
Coinbase isn’t the only cryptocurrency exchange that will be available in the Spark airdrop. According to numerous sources, Binance.US, the American crypto arm of the major exchange Binance, will not be able to evaluate the airdrop, even if Binance users will. Additionally, Kraken has chosen not to take part in the airdrop. Tweeting a response to a customer asking if they needed to move their XRP to get Spark Tokens, Kraken support clarified:
“We currently have no plans to support this airdrop / fork, you may consider withdrawing your coins on wallet you control. Kraken is not obligated to credit air launches that have occurred in the past or will occur in the future. “
Flare Networks makes the XRP price fly
With blockchain networks owning an underlying cryptocurrency, the native digital asset usually rises in price with the announcement of upcoming project launches and debuts. With Flare, the Ripple-funded blockchain project, it’s no different.
With the announcement of the Spark token airdrop and the revelation that it can be traded 1: 1 with XRP, Ripple’s token has also increased. XRP has had an incredible run lately; Market investors are speculating that the token’s bullish momentum is likely to continue, due to the positive market sentiment that supports it and Ripple’s numerous new projects, which include expanding Ripple’s customer base for cross-border payments .
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