Binance Unleashes 1 Million XRP Airdrop: RLUSD Frenzy Continues!
Binance has extended its RLUSD airdrop campaign by four weeks, now featuring a significantly larger reward pool of 1 million XRP tokens. Eligible users must meet specific holding and trading criteria to participate, while XRP itself shows surging on-chain activity despite negative retail sentiment.
Major cryptocurrency exchange Binance has announced an extension of its Ripple USD (RLUSD) airdrop rewards campaign, providing eligible users an additional four weeks to participate. This extension comes with a significantly larger reward pool, now set at 1 million XRP tokens. Binance highlighted the substantial value of this pool based on the current market price of XRP.
The initial airdrop campaign was launched on July 17, with an announced grand prize pool of $800,000 in XRP rewards. This first round was originally slated to conclude on August 14. Following its completion, Binance decided to prolong the initiative, making available the larger 1 million XRP pool for distribution over the subsequent four weeks.
To qualify for the rewards, users must adhere to the same terms as the initial campaign. Eligible participants are required to maintain a balance of at least 0.01 RLUSD in their Earn or Margin accounts on Binance. This includes RLUSD held in Flexible Savings within an Earn Account, or as collateral in Cross Margin, Isolated Margin, or Portfolio Margin accounts. Additionally, users must have an average daily trading volume of $500 or more in Margin or Futures trading across any pairs.
Binance confirmed that it would continue its practice of distributing XRP weekly rewards to eligible RLUSD holders every Friday. The stablecoin RLUSD was initially listed by Binance in January, introducing Spot trading support and integration into Binance Earn, thereby offering users diverse avenues to interact with and benefit from their RLUSD holdings.
In related news, the cryptocurrency XRP has experienced notable market dynamics. According to Santiment, negativity surrounding XRP surged as its price failed to rally, leading to a three-month bearish extreme in crowd commentary across various crypto platforms like X, Reddit, and Telegram. However, despite this bearish sentiment, XRP's on-chain activity has shown a significant uptick.
The XRP Ledger recently recorded 49,929 active addresses within a single 24-hour period, marking its highest activity level in over two months. This surge follows a period in earlier July where activity had dropped significantly. At the time of writing, XRP maintained a stable price of $1.00, registering a marginal 0.02% increase over the last 24 hours. While retail sentiment appears subdued, the heightened on-chain activity could be interpreted as a potential counter-signal for bullish investors.