XRP/USD NEXT STOP $1.00 (HODL)Flare Network Crypto Airdrop(INFO)
Flare Network $SPARK Crypto Airdrop: what you need to know - TECHNICAL ANALYSIS- FUNDAMENTAL ANALYSIS- NEWS- SIGNAL- PRICE ACTION
Free Flare Network tokens known as Spark ($SPARK) are coming. They will be distributed by airdrop to those cryptoasset wallets holding $XRP – a cryptoasset native to the XRP Ledger created by US-based technology giant Ripple, Inc. – at 00:00 on 12 December 2020.
Unfortunately – and controversially – not all wallets and exchanges are "supporting" the airdrop, i.e. owners of $XRP that hold their $XRP in those wallets or on those exchanges will not receive their much sought-after $SPARK. This article provides an introduction to Flare and $SPARK, lists some of the high profile exchanges that have confirmed their support for the airdrop, and provides some recommended steps if you are reading this article after the airdrop and want to understand your rights.
Background – Flare Network's $SPARK
$SPARK is the native cryptoasset of the Flare Network, a system intended to bring smart contract functionality to the XRP ecosystem, enabling trusted automation and efficiencies. Smart contracts have been a central part of the blockchain ecosystem since Ethereum's launch in 2014, and the MDRxTECH team have been engineering and auditing them for a number of years.
Interestingly, Flare Network claims to be "the world's first Turing complete Federated Byzantine Agreement (FBA) network." This is an important development as, if implement properly, it will enable a new way of scaling smart contract platforms while decoupling security with the value of the token, i.e. it will no longer rely on economic incentives that can be distorted to maintain a robust system. This marks a step change from many of the major blockchain platforms including Bitcoin (using proof of work consensus) and Ethereum (now using proof of stake consensus).
Which exchanges are supporting the airdrop?
A large number of exchanges have announced that they are supporting the $SPARK airdrop, most recently including Coinbase. Others include Binance, Huobi, Kraken, Kucoin and Poloniex.
+The Flare Network website includes a list of supporting exchanges
+ FEW EXAMPLES-----> Binance, BinanceUS, Coinbase, Bitstamp. Bitfinex, cryptowallet and many. more
If you are reading this before the airdrop and hold your $XRP either in self custody or on an exchange that will not be supporting the airdrop, you need to act to ensure you receive $SPARK. There are many guides online setting out the required steps, but get in touch if you are unsure and require any assistance.Spark Airdrop
What is the Spark airdrop?
Spark is the native token of the Flare Network, designed to offer smart contract functionality to XRP, but on a separate blockchain.
Will Coinbase support Flare Networks’ Spark airdrop?
Yes, Coinbase will facilitate the future airdrop of Spark tokens to eligible Coinbase,Pro and Prime customers. No action will be required from you to receive Spark tokens if you are participating in the airdrop. Coinbase is yet to determine whether it will support the buying, selling or trading of Spark. In the event Coinbase does not support these features, any Spark held in your Coinbase account will be available to withdraw only.
Who is eligible for the Spark airdrop?
Coinbase, Pro and Prime customers in eligible regions holding XRP in their accounts on the snapshot date of December 12, 2020 at 00:00 UTC (December 11, 2020 at 4:00 PM PT) will be automatically qualified to participate in the airdrop at a later date. XRP Send/Receives will be paused 15 minutes prior to the snapshot and re-enabled shortly after. Trading XRP will not be affected. There is no minimum balance required.
Coinbase Wallet app will not offer native support. If you’re a Wallet user, you won’t be able to claim Airdrop tokens through Coinbase Wallet. Coinbase Wallet users will instead have two options:
You can use your 12 word recovery phrase on another wallet that does support the Spark airdrop. This method is less secure but you’ll be able to can claim for the full amount
You can transfer to Coinbase, but wallets outside of Coinbase may require a minimum balance of 20 XRP. This means some amount will get left behind.
What regions will support the Spark airdrop?
At launch, we anticipate that Spark will be available in all regions with the exception of New York. Our decision to support any asset requires significant technical and compliance review and may be subject to regulatory approval in some regions. We therefore cannot guarantee whether or when the airdrop, buying, selling or trading of Spark will be available in any region.
What if I have XRP in my Coinbase vault?
Any XRP in your Coinbase vault will be included in the snapshot.
How many Spark tokens will I receive?
The amount of Spark you'll receive depends on how much XRP you have in your account at the snapshot time stated above. Coinbase intends to distribute this pro-rata to each user based on the number of Spark tokens Coinbase receives for all its users. For example, if you hold 1% of eligible XRP on our platform, you will receive 1% of airdropped Spark tokens to your Coinbase accounts that were holding XRP at the snapshot time.
How do I get the airdropped Spark tokens?
No action is required from XRP holders. You will get Spark from Coinbase at a later date after the Flare network launches.
When will I get Spark tokens?
You’ll receive Spark tokens from Coinbase at a later date after the Flare network launch.
Do Custody clients need to move funds to Pro/Prime?
No, Custody clients just need to email Client Services to indicate they would like to participate in the airdrop.
Is there a minimum balance of XRP that Coinbase.com/Pro users need?
No minimum balance is required.
For further information on how Spark will be distributed to XRP holders, please refer to Flare Network’s announcement.
Key Support Levels: $0.47500, $0.4600, $0.44500.
Key Resistance Levels: $0.55, $0.68, $0.78, $0.86, $0.96,$1.00.
Title: XRP/USD BUY LIMIT
Asset: Crypto
Symbol: XRP/USD
Type: Buy Limit
Time Frame: 1D
Entry Price 1: 0.47500(PENDING)
Entry Price 2: 0.45500 (PENDING)
Stop Loss: 0.43500(400 pips)
Take Profit 1: $0.55500 (800 Pips)
Take Profit 2: $0.65500 (1800 Pips)
Take Profit 3: $0.77500 (3000 Pips)
Take Profit 4: $0.87500 (4000 Pips)
Take Profit 5: $0.97500 (5000 Pips)
Take Profit 6: $1.07500 (6000 Pips)
Status: ACTIVE
David Schwartz, the chief technical officer of the San Francisco-based blockchain company ripple has recently explained how much XRP he owns.
Technically, because he owns such a mass sum, it makes him a whale in crypto terms.
David Schwartz, the chief technical officer of the San Francisco-based blockchain company ripple has recently explained how much XRP he owns.
Technically, because he owns such a mass sum, it makes him a whale in crypto terms.
As one of the original developers and designers of the token and XRP Ledger, David revealed that he would leave his job when the price of the token reaches $1.
David did not disclose the exact amount of the token that he owns however, he did say that it was less than 10 million and more than 1 million.
As a result of his public tweet explaining his portfolio for the token, the community reacted and questioned why he had very little exposure to the token while other founders of the ledger such as Chris Larsen have billions of the token in their possession.
The token for the San Francisco company has been performing quite mildly over the course of this year. Not much has happened in 2020 for the token but who knows what the future will hold. Many believe that 2021 will be the year for XRP but only time will tell.
Earlier this year, David gave even more details on his cryptocurrency portfolio saying that he regretted dumping such huge amounts of bitcoin and ethereum for cheap at the time. However, he did explain that he did this as a part of a “derisking plan“ that he had contact with his wife.
Free Flare Network tokens known as Spark ($SPARK) are coming. They will be distributed by airdrop to those cryptoasset wallets holding $XRP – a cryptoasset native to the XRP Ledger created by US-based technology giant Ripple, Inc. – at 00:00 on 12 December 2020.
Unfortunately – and controversially – not all wallets and exchanges are "supporting" the airdrop, i.e. owners of $XRP that hold their $XRP in those wallets or on those exchanges will not receive their much sought-after $SPARK. This article provides an introduction to Flare and $SPARK, lists some of the high profile exchanges that have confirmed their support for the airdrop, and provides some recommended steps if you are reading this article after the airdrop and want to understand your rights.
Background – Flare Network's $SPARK
$SPARK is the native cryptoasset of the Flare Network, a system intended to bring smart contract functionality to the XRP ecosystem, enabling trusted automation and efficiencies. Smart contracts have been a central part of the blockchain ecosystem since Ethereum's launch in 2014, and the MDRxTECH team have been engineering and auditing them for a number of years.
Interestingly, Flare Network claims to be "the world's first Turing complete Federated Byzantine Agreement (FBA) network." This is an important development as, if implement properly, it will enable a new way of scaling smart contract platforms while decoupling security with the value of the token, i.e. it will no longer rely on economic incentives that can be distorted to maintain a robust system. This marks a step change from many of the major blockchain platforms including Bitcoin (using proof of work consensus) and Ethereum (now using proof of stake consensus).
Which exchanges are supporting the airdrop?
A large number of exchanges have announced that they are supporting the $SPARK airdrop, most recently including Coinbase. Others include Binance, Huobi, Kraken, Kucoin and Poloniex.
+The Flare Network website includes a list of supporting exchanges
+ FEW EXAMPLES-----> Binance, BinanceUS, Coinbase, Bitstamp. Bitfinex, cryptowallet and many. more
If you are reading this before the airdrop and hold your $XRP either in self custody or on an exchange that will not be supporting the airdrop, you need to act to ensure you receive $SPARK. There are many guides online setting out the required steps, but get in touch if you are unsure and require any assistance.Spark Airdrop
What is the Spark airdrop?
Spark is the native token of the Flare Network, designed to offer smart contract functionality to XRP, but on a separate blockchain.
Will Coinbase support Flare Networks’ Spark airdrop?
Yes, Coinbase will facilitate the future airdrop of Spark tokens to eligible Coinbase,Pro and Prime customers. No action will be required from you to receive Spark tokens if you are participating in the airdrop. Coinbase is yet to determine whether it will support the buying, selling or trading of Spark. In the event Coinbase does not support these features, any Spark held in your Coinbase account will be available to withdraw only.
Who is eligible for the Spark airdrop?
Coinbase, Pro and Prime customers in eligible regions holding XRP in their accounts on the snapshot date of December 12, 2020 at 00:00 UTC (December 11, 2020 at 4:00 PM PT) will be automatically qualified to participate in the airdrop at a later date. XRP Send/Receives will be paused 15 minutes prior to the snapshot and re-enabled shortly after. Trading XRP will not be affected. There is no minimum balance required.
Coinbase Wallet app will not offer native support. If you’re a Wallet user, you won’t be able to claim Airdrop tokens through Coinbase Wallet. Coinbase Wallet users will instead have two options:
You can use your 12 word recovery phrase on another wallet that does support the Spark airdrop. This method is less secure but you’ll be able to can claim for the full amount
You can transfer to Coinbase, but wallets outside of Coinbase may require a minimum balance of 20 XRP. This means some amount will get left behind.
What regions will support the Spark airdrop?
At launch, we anticipate that Spark will be available in all regions with the exception of New York. Our decision to support any asset requires significant technical and compliance review and may be subject to regulatory approval in some regions. We therefore cannot guarantee whether or when the airdrop, buying, selling or trading of Spark will be available in any region.
What if I have XRP in my Coinbase vault?
Any XRP in your Coinbase vault will be included in the snapshot.
How many Spark tokens will I receive?
The amount of Spark you'll receive depends on how much XRP you have in your account at the snapshot time stated above. Coinbase intends to distribute this pro-rata to each user based on the number of Spark tokens Coinbase receives for all its users. For example, if you hold 1% of eligible XRP on our platform, you will receive 1% of airdropped Spark tokens to your Coinbase accounts that were holding XRP at the snapshot time.
How do I get the airdropped Spark tokens?
No action is required from XRP holders. You will get Spark from Coinbase at a later date after the Flare network launches.
When will I get Spark tokens?
You’ll receive Spark tokens from Coinbase at a later date after the Flare network launch.
Do Custody clients need to move funds to Pro/Prime?
No, Custody clients just need to email Client Services to indicate they would like to participate in the airdrop.
Is there a minimum balance of XRP that Coinbase.com/Pro users need?
No minimum balance is required.
For further information on how Spark will be distributed to XRP holders, please refer to Flare Network’s announcement.
Key Support Levels: $0.47500, $0.4600, $0.44500.
Key Resistance Levels: $0.55, $0.68, $0.78, $0.86, $0.96,$1.00.
Title: XRP/USD BUY LIMIT
Asset: Crypto
Symbol: XRP/USD
Type: Buy Limit
Time Frame: 1D
Entry Price 1: 0.47500(PENDING)
Entry Price 2: 0.45500 (PENDING)
Stop Loss: 0.43500(400 pips)
Take Profit 1: $0.55500 (800 Pips)
Take Profit 2: $0.65500 (1800 Pips)
Take Profit 3: $0.77500 (3000 Pips)
Take Profit 4: $0.87500 (4000 Pips)
Take Profit 5: $0.97500 (5000 Pips)
Take Profit 6: $1.07500 (6000 Pips)
Status: ACTIVE
David Schwartz, the chief technical officer of the San Francisco-based blockchain company ripple has recently explained how much XRP he owns.
Technically, because he owns such a mass sum, it makes him a whale in crypto terms.
David Schwartz, the chief technical officer of the San Francisco-based blockchain company ripple has recently explained how much XRP he owns.
Technically, because he owns such a mass sum, it makes him a whale in crypto terms.
As one of the original developers and designers of the token and XRP Ledger, David revealed that he would leave his job when the price of the token reaches $1.
David did not disclose the exact amount of the token that he owns however, he did say that it was less than 10 million and more than 1 million.
As a result of his public tweet explaining his portfolio for the token, the community reacted and questioned why he had very little exposure to the token while other founders of the ledger such as Chris Larsen have billions of the token in their possession.
The token for the San Francisco company has been performing quite mildly over the course of this year. Not much has happened in 2020 for the token but who knows what the future will hold. Many believe that 2021 will be the year for XRP but only time will tell.
Earlier this year, David gave even more details on his cryptocurrency portfolio saying that he regretted dumping such huge amounts of bitcoin and ethereum for cheap at the time. However, he did explain that he did this as a part of a “derisking plan“ that he had contact with his wife.
