What is the spark Token airdrop?

The Spark Token Airdrop is a major event in that it is a new utility token that will offer the opportunity to grow out of the DeFi space. It is also a major event for XRP as the fork will come off the Ripple blockchain and have a role to play there.

What is the spark (FLR) airdrop?

That is where the Spark (FLR) airdrop comes in. Essentially, Ripple is adding Flare Network, a new protocol, to the XRP ecosystem. Flare Network will bring more support to owners of XRP tokens, specifically adding decentralized finance or DeFi functionality to the XRP ledger. As part of this, Flare Network has a native token, Spark (FLR).

Is flare network's airdrop weighing on XRP?

As part of this, Flare Network has a native token, Spark (FLR). Over the weekend, any holders of XRP tokens received free Spark tokens. And after driving XRP prices up, it appears that the airdrop is now weighing on the crypto.

What is an airdrop in crypto?

An airdrop is a way to distribute tokens as rewards or gifts. Specifically, crypto projects have been known to use these airdrops as a way to market themselves or attract new users. Importantly, Square (NYSE: SQ) also did something similar when it was building out its Cash App.