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Ripple’s XRP prepare for a surprise after Coinbase announced “Airdrop” support

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Ripple’s XRP prepare for a surprise after Coinbase announced "Airdrop" support
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LEARN HOW TO TRADE, BITCOIN, EOS, ETHEREUM, LIGHTBLOCKS MEDIA

Ripple’s XRP, the third-largest cryptocurrency after Bitcoin and Ethereum, rose sharply last month.

The value of XRP tokens (mostly owned by Ripple) has more than doubled in recent weeks, driven by the soaring price of Bitcoin for record highs and the highly anticipated gift of new cryptocurrencies as a drop of air.

Now Coinbase, the largest cryptocurrency exchange in the US, has announced its support for the Airdrop, which is due to take place on December 12th.

“The amount of spark you’ll receive depends on how much XRP you had in your account at the snapshot time,” Coinbase, one of the world’s largest cryptocurrency exchanges boasting some 35 million users around the world, wrote in a blog post over the weekend.

Coinbase added via Twitter: “We plan to distribute airdrops after the flare network starts.” The Flare network aims to introduce Ethereum-like features into XRP Ledger and to deliver the network’s native cryptocurrency via Spark tokens.

Crypto exchanges support for Ripple’s XRP Airdrops

Ripple’s investment arm RippleX supports the free issue of around 45 billion Spark tokens.

Other major cryptocurrency exchanges, including Binance in the Cayman Islands, Bithumb in South Korea, and Bitstamp in Luxembourg, have announced their support for Airdrops as well.

In the past few weeks, there has been mounting excitement over freebies, and cryptocurrency market watchers have suggested that this is an explanation for the massive rebound in XRP in November.

Jehan Chu, the managing partner of Kenetic Capital, a Hong Kong-based blockchain investment company, told Coindesk last month, “The impending airdrop is intensifying the XRP bull market and drawing attention to one of the largest cryptocurrency communities. The stock is insane.”

“With the imminent launch of Flare, a smart contract utility fork of XRP, the pair will attempt to challenge Ethereum’s dominance in decentralized finance and decentralized applications.”

At a time when decentralized finance (DeFi) has generated a lot of interest, the price of Ethereum has risen 300% in the past 12 months. Encryption technologies have been used to restore traditional financial instruments through many DeFi projects built on top of the Ethereum network, such as loans and insurance.

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