Binance has launched an $800,000 XRP reward campaign for eligible RLUSD holders, creating another incentive to use Ripple’s stablecoin on the exchange. At the same time, XRP Ledger activity has picked up, with Santiment recording its highest daily active-address count in more than two months.
Binance’s campaign ran from July 17 through August 14, with XRP rewards distributed every Friday. Users needed to maintain at least 0.01 RLUSD in eligible Binance Earn or Margin accounts and record at least $500 in average daily Margin or Futures trading volume.
RLUSD held in Flexible Savings, or used as collateral in Cross Margin, Isolated Margin or Portfolio Margin accounts, could qualify. Users also had to complete KYC and live in an eligible jurisdiction.
The reward calculation used the lowest RLUSD balance recorded through hourly snapshots each day. Binance then applied the weekly effective APR to the seven-day average qualifying balance.
The headline reward pool was $800,000 worth of XRP, divided across four weekly distributions. The effective APR changed considerably during the campaign:
This decline shows why the headline APR should not be treated as a fixed return. Binance states that the rate can change each week depending on qualifying balances and other campaign factors.
RLUSD obtained through borrowing also faced restrictions. Binance applied a 60% haircut to the leveraged portion, while borrowed RLUSD recorded as a liability did not count toward the qualifying balance.
While XRP sentiment has weakened, blockchain activity has moved in the opposite direction. Santiment reported 49,929 active XRP addresses within 24 hours, the highest level in more than two months.
The increase comes after XRP market value fell below $1, with retail commentary reaching a three-month bearish extreme across social platforms, according to Santiment.
This creates an interesting contrast, while market sentiment is weak, participation on the XRP Ledger is rising.
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