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Singapore-based crypto exchange Bitrue recently announced an airdrop for XRP holders. Bitrue users must lock their SOLO and XRP tokens to be eligible for the xCORE airdrop.
Bitrue, a Singapore-based cryptocurrency exchange, recently announced an upcoming airdrop for its XRP holders on Twitter. To be eligible for the xCORE Airdrop, users must lock in their SOLO and XRP tokens before 3:50 a.m. UTC on March 24. SOLO is the native token of Sologenic and currently trades at $0.22. XRP, the native token of Ripple’s XRPLedger, made waves this week for its massive overnight gains and currently trades at $0.44.
xCORE is a token option which 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 engagement in the new Coreum ecosystem, the team prepared several community airdrops supported by not only Bitrue but also by South Korea’s largest crypto exchange, Upbit. The airdrop is scheduled to coincide with the launch of Coreum’s mainnet, which will go live at 04:00 UTC on March 24.
ð $XRP is up 20% in the last 24 hours!— Bitrue (@BitrueOfficial) March 22, 2023
â° Don’t forget to check out our $xCORE airdrop for all $XRP and $SOLO holders!
ð Lock in your $SOLO and $XRP before 3:50 (UTC), 24 Mar to receive your #xCORE airdrop!
ðð» Join now https://t.co/UqTFCfeWQj pic.twitter.com/uKygY36M28
The event will see 50 million xCORE tokens airdropped 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 Flare Airdop to be completed. The Flare token airdrop began on January 9, 2023, almost two years after a snapshot of XRP holders took place on December 12, 2022.
The Good News Continues for XRP
XRP holders have had an excellent week thus far. The price of XRP skyrocketed on March 21, reaching a four-month high. The token gained as much as 20% to reach a high of $0.49.
Ripple’s XRP gained on the back of the recent banking crisis, which saw the voluntary liquidation of Silvergate Bank and Silicon Valley Bank’s (SVB) collapse. Ripple’s CEO, Brad Garlinghouse, managed to settle investor’s 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 Federal Reserve’s anticipated interest rate hike has also been the catalyst to drive investors into the arms of decentralization and cryptocurrencies.
Analysis indicates that sentiment towards Ripple’s infamous 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 Letter Notice of Supplemental Authority.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.