Fri. Dec 8th, 2023

Singapore-based cryptocurrency exchange Bitrue recently announced an airdrop for XRP holders. Bitrue users must lock up their SOLO and XRP tokens to be eligible for the xCORE airdrop.

Bitrue announces Xcore airdrop for XRP holders

Bitrue, a Singapore-based cryptocurrency exchange, recently announced an upcoming airdrop for its XRP holders on Twitter. To be eligible for the airdrop of xCORE, users must lock their SOLO and XRP tokens before 3:50 am UTC on March 24. SOLO is the native token of Sologenic and is currently trading at $0.22. XRP, Ripple’s native XRPLedger token, made waves this week for its massive gains over the past few days and currently trading at $0.44. xCORE is a token option that can be exchanged for CORE tokens, the native token of the Coreum blockchain. Coreum is a Layer 1 decentralized blockchain created by the Sologenic Development Fund. Developed to promote participation in the new Coreum ecosystem, the team prepared several community airdrops backed not only by Bitrue but also the largest cryptocurrency exchange in South Korea, Upbit. The airdrop is timed to coincide with the Coreum mainnet launch, which will go live at 04:00 UTC on March 24. The event will airdrop 50 million xCORE tokens to XRP and SOLO holders and 100 million CORE tokens to COREUM holders. The XRP community is particularly eager for the airdrop after users waited two years for the airdrop to complete. Flare airdrop. The Flare token airdrop began on January 9, 2023, almost two years after a snapshot of XRP holders was taken on December 12, 2022.

The good news continues for XRP

XRP holders have had an excellent week so far. The XRP price skyrocketed on March 21, hitting a four-month high. The token gained up to 20% to reach a high of $0.49. Ripple’s XRP gained thanks to the recent banking crisis, which saw the voluntary liquidation of Silvergate Bank and the collapse of Silicon Valley Bank (SVB). Ripple CEO Brad Garlinghouse managed to resolve investor concerns after it was revealed that Ripple Labs had “some exposure” to SVB. Garlinghouse took to Twitter to assure the community that the company “remains in a strong financial position despite its exposure to the failed bank.” The anticipated interest rate hike by the Federal Reserve has also been the catalyst for driving investors into the arms of decentralization and cryptocurrencies. Analysis indicates that sentiment towards the infamous Ripple case involving the United States Securities and Exchange Commission (SEC) has turned bullish. Developments in the case have inspired optimism among investors as the defendants in the lawsuit filed a Supplemental Authority Notification Letter.

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By Farwa Raza

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