Binance is launching an $800,000 XRP airdrop for people who hold Ripple USD (RLUSD). This campaign aims to encourage more use of Ripple’s stablecoin and build a stronger connection between Binance and the Ripple ecosystem. Eligible users who keep RLUSD in Binance Earn, Margin, or Futures accounts from July 17 to August 14 will receive XRP rewards every Friday during the campaign. This gives users extra motivation to hold and use RLUSD on Binance.
To take part, users need to keep at least 0.01 RLUSD in their eligible accounts and have an average daily trading volume of at least $500 in Margin or Futures trading. Binance explained that if users get RLUSD by borrowing other stablecoins, only 40% of that amount will count after subtracting any debts in Margin accounts. This rule applies to borrowed positions with USDT, USDC, FDUSD, and other stablecoins.
Broker accounts can also join the airdrop. However, Binance said the campaign will not be available in some regions because of local regulations.
Source: Binance.com
This campaign comes as RLUSD’s growth has slowed. The stablecoin’s market cap is now about $1.5 billion, down from over $1.8 billion in early June. RLUSD gained momentum earlier when Mastercard expanded 24/7 RLUSD settlement on the XRP Ledger, but interest dropped as delays in U.S. crypto laws affected the market.
The announcement came at a time when people were feeling more positive about XRP. The token rose about 5% after U.S. inflation data was lower than expected, which boosted market confidence. CoinGlass reported that XRP futures open interest increased sharply, showing that more traders expect the price to move further.
Binance’s campaign shows how competitive the stablecoin market has become, with exchanges offering incentives to attract users and boost adoption. If the campaign works, it could help RLUSD circulate more and make Ripple stronger in the growing regulated stablecoin space.
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