{"id":564730,"date":"2020-11-25T15:29:41","date_gmt":"2020-11-25T12:29:41","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=564730"},"modified":"2020-11-26T19:16:06","modified_gmt":"2020-11-26T16:16:06","slug":"binance-confirms-support-for-xrps-flare-networks-snapshot-and-airdrop","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/binance-confirms-support-for-xrps-flare-networks-snapshot-and-airdrop\/","title":{"rendered":"Binance Confirms Support for XRP&#8217;s Flare Networks Snapshot and Airdrop"},"content":{"rendered":"<p><strong>Quick take:<\/strong><\/p>\n<ul>\n<li><strong>Binance has announced that it will support XRP&#8217;s Flare Networks snapshot and airdrop of Spark tokens<\/strong><\/li>\n<li><strong>Binance is the latest major exchange to support the event<\/strong><\/li>\n<li><b>The team at Flare Networks is in talks with other major exchanges<\/b><\/li>\n<li><strong>XRP could continue gaining till the event on December 12th<\/strong><\/li>\n<\/ul>\n<p>The crypto exchange of <a href=\"https:\/\/en.ethereumworldnews.com\/category\/news\/binance-bnb-news\/\" target=\"_blank\" rel=\"noopener noreferrer\">Binance<\/a> is the latest to <a href=\"https:\/\/www.binance.com\/en\/support\/announcement\/78c11feba44d443998cf7a5329539e91\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">confirm its support<\/a> for <a href=\"https:\/\/en.ethereumworldnews.com\/xrp-breaks-0-27-as-investors-prepare-for-the-flare-networks-snapshot\/\" target=\"_blank\" rel=\"noopener noreferrer\">the Flare Networks snapshot<\/a> on the XRP ledger. The team at Binance made the announcement earlier today via the following statement.<\/p>\n<blockquote><p>Binance will support the Spark (SPARK) Airdrop Program for XRP (XRP) holders. The airdrop snapshot will take place at the first validated XRP ledger index number with a timestamp greater than or equal to 2020\/12\/12 00:00 AM (UTC).<\/p><\/blockquote>\n<h2>XRP Deposits and Withdrawals to Be Suspended at 10 pm UTC<\/h2>\n<p>The team at Binance went on to explain that deposits and withdrawals of XRP will be suspended beginning 10pm on the day of the snapshot, December 12th. Additionally, the individual allocation of SPARK tokens to <a href=\"https:\/\/en.ethereumworldnews.com\/xrp-ledger-new-account-activations-hit-1-year-highs-of-4224-per-day\/\" target=\"_blank\" rel=\"noopener noreferrer\">XRP holders<\/a> will be based on the following formula.<\/p>\n<blockquote><p>User A = Amount of XRP held by User A at the time of snapshot \/ Total XRP held by Binance at the time of snapshot * Total SPARK received by Binance for the airdrop<\/p><\/blockquote>\n<h2>Flare Networks in Talks with Coinbase, Bittrex, Kraken, Bitfinex<\/h2>\n<p>Binance confirming support for the Flare Networks snapshot could be a sign that other major exchanges will soon make an announcement regarding the same. Earlier this week, the team at Flare Networks notified the XRP community that <a href=\"https:\/\/twitter.com\/FlareNetworks\/status\/1331114255266050049?s=09\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">they were in talks<\/a> with several major exchanges with regards to supporting the snapshot and subsequent airdrop.<\/p>\n<blockquote><p><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">We are still waiting on @c<\/span><span class=\"r-18u37iz\">oinbase, @b<\/span><span class=\"r-18u37iz\">inance, @<\/span><span class=\"r-18u37iz\">BittrexExchange, <\/span><span class=\"r-18u37iz\"><a href=\"https:\/\/en.ethereumworldnews.com\/binance-kraken-in-talks-to-support-xrps-spark-token-airdrop\/\" target=\"_blank\" rel=\"noopener noreferrer\">@krakenfx<\/a>\u00a0<\/span><span class=\"r-18u37iz\">@bitfinex <\/span><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">to announce their position on the Spark distribution. <\/span><span class=\"r-18u37iz\">#XRP<\/span><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\"> holders at these exchanges that want Spark will need to move to another exchange or self custody if these don\u2019t announce soon.<\/span><\/p><\/blockquote>\n<h2>Flare Networks Airdrop Results in a Massive Interest in XRP<\/h2>\n<p>Since news broke of the Flare Networks airdrop happening next month, the XRP ledger has experienced a surge in new accounts created in the past week alone. A brief look at <a href=\"https:\/\/xrpscan.com\/metrics\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">XRPScan.com<\/a> reveals that November 24th had the highest number of accounts created in a single day on the XRP ledger since the 2017\/2018 crypto bull run.<\/p>\n<p>On this day, a total of 8,068 accounts were created on the XRP ledger as highlighted in the chart below.<\/p>\n<figure id=\"attachment_564731\" aria-describedby=\"caption-attachment-564731\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/XRP-New-accounts-Nov25th.jpg\"><img class=\"wp-image-564731 size-large\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/XRP-New-accounts-Nov25th-1024x361.jpg\" alt=\"\" width=\"1024\" height=\"361\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/XRP-New-accounts-Nov25th-1024x361.jpg 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/XRP-New-accounts-Nov25th-300x106.jpg 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/XRP-New-accounts-Nov25th-770x272.jpg 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/XRP-New-accounts-Nov25th-500x176.jpg 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/XRP-New-accounts-Nov25th-240x85.jpg 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/XRP-New-accounts-Nov25th-717x253.jpg 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/11\/XRP-New-accounts-Nov25th.jpg 1188w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\"><\/a><figcaption id=\"caption-attachment-564731\" class=\"wp-caption-text\">Source, XRPScan.com<\/figcaption><\/figure>\n<h2>XRP&#8217;s Parabolic Run Could Result in Consolidation or a Pullback<\/h2>\n<p>The renewed interest in XRP has also reflected on the price of the digital asset in the crypto markets. At the time of writing, XRP is trading $0.68 after posting a 2-year peak value of $0.78 &#8211; Binance rate. With the snapshot approximately two weeks away, XRP could continue gaining as additional crypto exchanges announce their support of the event.<\/p>\n<p>However, XRP&#8217;s parabolic run since mid-November could result in either consolidation or a correction ahead of the event.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Quick take: Binance has announced that it will support XRP&#8217;s Flare Networks snapshot and airdrop of Spark tokens Binance is the latest major exchange to support the event The team at Flare Networks is in talks with other major exchanges XRP could continue gaining till the event on December 12th The crypto exchange of Binance is the latest to confirm its support for the Flare Networks snapshot on the XRP ledger. The team at Binance made the announcement earlier today [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":562072,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4656],"tags":[108199,108113,108195,6957],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/564730"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=564730"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/564730\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/562072"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=564730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=564730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=564730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}