XRP Holders to Earn Rewards on Singaporean Exchanges

MEXC Global and Bitrue offer XRP traders rewards, while Coreum blockchain prepares for community airdrops.

A person in a celebratory pose, with an XRP token.
  • Singaporean exchanges MEXC Global and Bitrue are offering daily reward opportunities for XRP traders.
  • MEXC Global will provide additional incentives for users with support for the upcoming Coreum airdrop.
  • Bitrue have encouraged participation in the new Coreum blockchain ecosystem by offering an airdrop for XRP users.

The cryptocurrency industry is constantly evolving, with new developments emerging every day. One of the latest developments involves MEXC Global and Bitrue, two Singapore-based exchanges that have recently made significant announcements. 

Sponsored

The exchanges provide opportunities for traders to participate in events and airdrops. Users can partake in the Bitrue and MEXC Global launch promotion events for Coreum for a chance to win rewards.

Bitrue & MEXC Global Offer XRP Users Coreum Airdrop

MEXC Global, a reputable Singapore-based crypto exchange, recently launched an ETF Trade Mining event that offers incentives to XRP traders. The event allows users to trade selected XRP token pairs and share in a total prize pool of 6,500 XRP tokens. 

The promotion has been running since March 22 and will end on March 24 at 3:59 p.m. UTC, with 50% of the total prize pool (3,250 XRP) to be automatically distributed daily to users’ accounts. In addition, MEXC Global has announced support for the upcoming Coreum airdrop, where 50 million xCORE tokens will be airdropped to SOLO and XRP holders. 

Bitrue, another Singapore-based crypto exchange, recently held an airdrop event for XRP users, which concluded earlier this morning. Users could receive the xCORE Airdrop during the event by locking in their SOLO and XRP assets before 3:50 a.m. UTC on March 24. 

Sponsored

The event was designed to encourage participation in the new Coreum blockchain ecosystem, which went live on March 24, 2023, at around 4:00 a.m. UTC. 

These xCORE option tokens can be exchanged for CORE tokens, the native token of the Coreum blockchain. The Coreum team has prepared community airdrops to promote engagement in the new Coreum ecosystem, with 100 million CORE tokens distributed to COREUM holders alongside the xCORE tokens. 

On the Flipside

  • Promoting these events has been known to perpetuate a culture of “FOMO” (fear of missing out) and pressure users to engage in risky behaviors in pursuit of short-term gains.
  • The fact that exchanges such as MEXC and Bitrue can exert such significant influence over specific cryptocurrencies with airdrops and reward farming raises questions about the true decentralization of the cryptocurrency market.

Why You Should Care

MEXC Global and Bitrue’s recent initiatives to incentivize XRP traders and support the upcoming Coreum airdrop demonstrate the potential for new blockchain ecosystems and the importance of community engagement in their success. 

For Singaporeans, these developments highlight the city-state’s growing role as a hub for the cryptocurrency industry. 

To learn more about airdrops and how they can impact users, check out this article on the recent Arbitrum airdrop launch:
Arbitrum Users Outraged as Airdrop Launch Flops: Here’s What Happened

Hear more about how Binance has temporarily suspended spot trading:
Binance Halts Spot Trading, Resulting in $700 BTC Price Drop

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Kyle Calvert

Kyle Calvert is a cryptocurrency news reporter for DailyCoin, specializing in Ripple, stablecoins, as well as price and market analysis news. Before his current role, Kyle worked as a student researcher in the cryptocurrency industry, gaining an understanding of how digital currencies work, their potential uses, and their impact on the economy and society. He completed his Masters and Honors degrees in Blockchain Technology within Esports and Business and Event management within Esports at Staffordshire University.