XRP Addresses Hit New High Just Before The Spark Airdrop

The number of XRP addresses hit a new high a few moments before the Spark airdrop and tomorrow, we will see Flare Network taking a snapshot of the Ripple blockchain to work out the way of distributing Spark tokens so let’s find out more in today’s latest Ripple news.

The number of XRP addresses hit a new high ahead of the Spark airdrop and tomorrow we will see flare Network taking pictures of the XRP blockchain just so they can find a way of crediting the XRP users with free Spark tokens. Flare aims to distribute Spark in the first half of 2021. The number of whales also hit a new all-time high in three weeks leading up to the SPARK airdrop which will provide the XRP holders that hold funds in certain wallets and exchanges with free tokens.

🐳 Leading up to tomorrow's $SPARK airdrop, #Ripple's addresses have grown rapidly. Particularly, addresses with 10M or more tokens (currently $5.67M or more) have risen to an ATH # of 339. This looks promising for the tier that has the most $XRP at stake. https://t.co/x7TV1Pt23n pic.twitter.com/iw9Oc6U87o

— Santiment (@santimentfeed) December 11, 2020

According to research from Santiment, we can see that the number of XRP wallets that have about 10 million tokens in them, or about $5.67 million, increased to an all-time high of 339:

 “This looks promising for the tier that has the most $XRP at stake.”

The Spark Airdrop, which is a marketing initiative of the Flare Network will provide all XRP holders that store funds on exchanges like Kraken, Binance, and Coinbase, as well as Ballet, Ledger, and Exodus with free Spark tokens. Flare will take a snapshot of the XRP blockchain and will determine who will get the token. Exchanges that claim the funds on behalf of their customers, and those holding XRP in their own wallets will have to submit claims to Flare by June 11, next year.

To calculate how many of the Spark tokens Flare will give each wallet, the company will divide the number of XRP tokens that are held by eligible wallets by the total number of XRP tokens. From the denominator, Flare will subtract the number of coins owned by Ripple and any XRP that is held on other exchanges that don’t participate in the airdrop. To reach the final number, Flare multiplies the sum of the calculation by 45 billion.

Spark is Flare’s native token which is a smart contract platform that helps blockchains communicate with some other blockchains in a trustless manner. The platform will distribute tokens once the network goes live.