Coinbase introduced Saturday it plans to assist an upcoming airdrop that has been seen as a think about boosting XRP’s worth in current weeks.
The San Francisco-based trade mentioned in a weblog put up that Coinbase clients with XRP balances as of midnight UTC on Dec. 12, 2020 will obtain Spark tokens from Coinbase at a later date.
“The quantity of Spark you’ll obtain is dependent upon how a lot XRP you had in your account on the snapshot time,” Coinbase wrote. Particulars in regards to the airdrop will probably be posted this week, an organization spokesperson informed CoinDesk.
Spark is the native token of the Flare Community, a system meant to convey Ethereum-like performance to the XRP Ledger.
“Flare’s token, Spark is created by way of what often is the first ever utility fork whereby the origin community, on this case the XRP Ledger, advantages by way of elevated utility,” the staff behind the smart-contract venture wrote in August.
XRP is up practically 10% over the past 24 hours, based on CoinDesk information.
“Supporting new networks and their initiatives is necessary for not solely assembly buyer curiosity, but additionally the continued progress of the crypto ecosystem,” mentioned Coinbase spokesperson Crystal Yang.