Zebec Network has unveiled a $100,000 reward program specifically targeting users holding significant amounts of XRP on the U.S.-based cryptocurrency exchange Uphold.
The initiative requires participants to hold XRP balances of $50,000 or more on Uphold and complete Know Your Customer (KYC) verification. Residents of New York and Florida are excluded from eligibility.
The program aims to engage high-net-worth XRP holders. Rewards will be distributed proportionally among all qualifying participants within 30 days after the promotional period concludes.
This announcement comes amidst significant price swings for Zebec Network’s native token, ZBCN. The token experienced a remarkable 298.3% surge last month, reaching an all-time high of $0.007. Market observers linked part of this surge to unconfirmed rumors of a potential partnership with Ripple.
However, following the peak, ZBCN’s price corrected by 36.9%. Over the past two weeks, the token has declined by a further 13.6%, currently trading near $0.004.
Analysts suggest the reward program could renew interest among the XRP community. Nevertheless, the market outlook remains cautious, primarily due to the absence of official confirmation regarding any Zebec-Ripple partnership and continuing price volatility.