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Spark (FLR) trades at US$1 a token on leading Indian crypto platform Giottus

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Key highlights

  • Giottus, an official partner of Flare Airdrop, has opened trade of Spark tokens for its users on 12th December 2020 – a global first
  • More than 15,000 innovators have traded Spark on the platform in the first 24 hours
  • Spark price hit an intra-day high of US$2.3 per token

14 December 2020, Chennai: Giottus, India’s leading and most innovative cryptocurrency trading platform, enabled the world’s first trading of Spark tokens from Flare Network on its platform starting 12th December 2020.

All users who held Ripple (XRP) on the Giottus platform got 15% Spark (FLR) tokens as part of the Flare airdrop. Giottus supplemented this by giving an additional 5% Spark (FLR) tokens free to all eligible users.

More than 15,000 users have since traded Spark (FLR) on Giottus with each user on average doing more than 2 transactions. Spark (FLR) token price varied, as expected, as the market reacted to the growing demand for the tokens. Spark (FLR) token price hit an intra-day high of US$2.3 – more than 4x the value of a Ripple (XRP) token on which the airdrop was based.

Commenting on this initiative, Giottus’ CEO and Co-founder Vikram Subburaj said

“There has been an overwhelming response for Spark trading on Giottus. There seems to be lot of excitement among the community for Spark tokens than we initially thought. We are noticing more momentum being built up and expect the trades to multiply in the upcoming days.”

Giottus’ COO and Co-founder Arjun Vijay added

“We would like to mention these are IOU’s credited to users in advance before the official distribution of Spark Airdrop by Flare Networks. As and when Flare Network starts distributing the airdrop, we will keep crediting the remaining tokens to our customers. Having said that Giottus will most probably be the only exchange at least for the next few months where you can trade Spark tokens.”

Contact:

Srivathsan A R

Chief Marketing Officer

marketing@giottus.com

Disclaimer: This is a paid post and should not be taken as news/advice.

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Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.
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