- Crypto exchanges are slowly pledging their support of the Spark Token distribution to XRP holders
- So far, 7 have confirmed their participation in the event
- Several others are currently negotiating with the team at Flare to support the Spark token distribution
- The snapshot to determine the distribution will be made on the 12th of December
The Spark token distribution by the team at Flare Networks has received a boost from seven crypto exchanges who have pledged to support the event. At the time of writing, the following crypto platforms have confirmed their participation in the distribution of Spark Tokens to XRP holders.
Other Crypto Platforms are Considering Supporting the Distribution to XRP holders
Additionally, other crypto platforms such as Nexo, SBI VC Trade and Etoro, are also considering supporting the Spark Token distribution event. The team at Nexo announced via twitter that they were in communication with the CEO of Flare Networks regarding the possibility of supporting the event.
The team at Nexo also highlighted that December 12th would be the date of the snapshot on the XRP ledger.
Kindly be advised that we are currently in active communication with the CEO of Flare Network. Furthermore, as announced in another tweet, the snapshot of the XRP ledger for the Spark distribution will be taken on December 12th 2020.
Also via Twitter, SBI’s VC Trade explained that they were in discussions with the team at Flare Networks regarding a way forward with the distribution. The initial tweet by the team at SBI VC Trade can be found below.
— SBI VC Trade (SBI VCトレード） (@sbivc_official) September 4, 2020
In the case of eToro, they too elaborated that they were in negotiations with the team at Flare.
eToro is proud to have a large community of XRP holders on our platform, and keen to support the continued evolution of the Ripple ecosystem.
As such, eToro is currently in conversation with Ripple and Flare Networks regarding the upcoming distribution of Spark — the native token of the Flare blockchain
Slight Possibility of an XRP Rally
The Spark Token distribution is literally an airdrop and if history is to go by, the value of XRP should benefit positively from investors rushing to own the digital asset for the additional ‘free’ tokens.
However, given the current crypto market environment with an indecisive Bitcoin, a rally might not be a guarantee. Investors are advised to factor in the possibility of Bitcoin dropping in Q4 2020 as it has done in the last two years.