TL;DR
- Jupiter on Solana surpasses $1.2 billion in daily volume, beating Uniswap on Ethereum.
- Massive JUP airdrop in Jupiter attracts almost a million users, generating high demand.
- The JUP token soars 70%, starting at $0.42 and exceeding $0.72 in one hour; Jupiter reserves 3 billion tokens for future airdrops.
In a historic day for the Jupiter decentralized exchange (DEX) on the Solana network, trading volume has reached a staggering figure of over $1.2 billion in the last 24 hours, surpassing its leading competitor, Uniswap V3 on Ethereum, which recorded $854 million in the same period, according to data from CoinGecko.
Importantly, this figure does not include Uniswap volume on other chains.
This impressive uptick in trading activity coincides with the start of the massive distribution of the JUP token, via an airdrop that began last Wednesday.
During the first day of distribution, nearly 955,000 Jupiter users were eligible to claim a share of the 1 billion token pool.
Although not all traders received tokens in this first airdrop, the demand and participation was notable.
Jupiter’s daily trading volume, according to DeFi Llama sources, has set an all-time high for the protocol, slightly exceeding $1 billion on December 14, 2023.
This feat evidences the growing interest in Jupiter, which has seen steadily increasing demand
The performance of the JUP token has been equally outstanding.
Starting its day at a price of around $0.42, the token has experienced a 70% increase, surpassing $0.72 in just over an hour.
Although it has seen a small correction, it currently remains above $0.67.
Jupiter has announced exciting plans for the future, reserving a total of 3 billion tokens, equivalent to 30% of the total supply, for future airdrops aimed at rewarding new users.
Although the exact date of the next airdrop has not yet been announced, the trading community is eager to participate in this new phase.
Despite a 6% drop in the price of SOL, Solana’s native cryptocurrency, during the day of JUP’s launch, which currently sits at around $97 according to CoinMarketCap, the Solana network has maintained its stability amid the effervescence generated by the JUP airdrop.
Jupiter on Solana has emerged as an undisputed leader in the DEX space, thanks to its impressive trading volume and the excitement generated by the JUP airdrop.
The allocation of tokens for future airdrops signals a smart strategy to consolidate and expand its user base, generating great excitement in the community.
