GMO Coin to Distribute Songbird (SGB) Tokens to XRP Users
GMO Coin, a cryptocurrency exchange affiliated with GMO Internet Group in Japan, has announced that it will be conducting an airdrop of Songbird (SGB) tokens to eligible XRP users. The distribution is scheduled to take place by September 29, 2023.
Benefiting XRP Owners
GMO Coin has specified that the airdrop will be available to customers who have held XRP in their GMO Coin accounts since December 12, 2020. Customers who use the exchange’s crypto asset lending services are also eligible for the airdrop.
To participate in the airdrop, users need to provide a snapshot of their XRP holdings. The specific price at which the distributions will be made will be announced later. Currently, SGB is trading at around $0.0047 according to CoinGecko.
GMO Coin has assured its clients that they are free to sell or transfer their XRP holdings after submitting proof for the airdrop. The distributions will be converted into Japanese yen and distributed to customers by the end of the month.
A Good Year for XRP Holders (so far)
XRP investors have experienced a volatile few months with various developments impacting the price of the coin. In mid-July, XRP saw a surge of over 70% after winning a legal battle against the SEC. Despite subsequent drops, the current price of XRP at approximately $0.51 is still higher than its value at the beginning of the year ($0.34).
Many analysts predict a positive future for XRP if Ripple secures a decisive victory against the SEC. Notable traders like “KALEO” on Twitter have expressed optimism about the coin’s prospects.
Hot Take: XRP Holders on GMO Coin to Receive Songbird (SGB) Tokens
GMO Coin, a Japanese cryptocurrency exchange, has announced that it will distribute Songbird (SGB) tokens to eligible XRP users. The airdrop will benefit customers who have held XRP in their GMO Coin accounts since December 2020, including those who use the exchange’s crypto asset lending services. To participate, users need to provide a snapshot of their XRP holdings. The specific distribution price will be disclosed later. After submitting proof, clients are free to sell or send their XRP possessions. The distributions will be converted into Japanese yen and delivered by the end of September. Despite recent fluctuations, XRP’s current price remains higher than at the beginning of the year. Analysts anticipate a positive future for XRP if Ripple wins its legal battle against the SEC.
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