Token

Solana

Jupiter

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/market-fluctuations-jupiters-jup-token-takes-a-dive-post-airdrop" rel="noopener noreferrer nofollow">Market Fluctuations: Jupiter’s JUP Token Takes a Dive Post-Airdrop</a><br></p>
<p style="text-align: justify">Jupiter’s local token, JUP, experienced a dramatic market entry but quickly faced a significant sell-off, resulting in a 63.7% price decline to $0.5859 post-airdrop. Initially, the token’s price surged, tripling in value and reaching a market cap of $1.72 billion.</p>
<p style="text-align: justify">Despite the initial success, JUP’s value soon corrected by 60%, with trading volumes spiking to $1.3 billion. The airdrop was significant, with a total supply of 10 billion JUP tokens and eligibility extended to holders interacting with Jupiter before a set date.</p>
<p style="text-align: justify">The distribution plan for the airdrop was to allocate 40% of the total token supply across four rounds, with the first round distributing 10% or 1 billion tokens. Additionally, a 17-year-old reportedly earned $1 million from the airdrop, highlighting the event’s impact.</p>
<h2 style="text-align: justify" id="network-stability-amidst-high-demand">Network Stability Amidst High Demand</h2>
<p style="text-align: justify">Post-airdrop, the <a href="https://en.bitcoinhaber.net/solana-ecosystem-soars-exciting-developments-and-nft-frenzy" rel="noopener noreferrer nofollow">Solana</a> network, which supports Jupiter, experienced congestion, with users reporting difficulties, particularly in the first 30 minutes. Despite these challenges, no major issues were reported, indicating the network’s resilience.</p>
<p style="text-align: justify">Investors are advised to remain cautious, considering the potential inflationary effects of the airdrop excitement on JUP’s value. A further price drop could, however, present a buying opportunity for those with a long-term perspective.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/market-fluctuations-jupiters-jup-token-takes-a-dive-post-airdrop" rel="noopener noreferrer nofollow">Market Fluctuations: Jupiter’s JUP Token Takes a Dive Post-Airdrop</a></h5>

Market Fluctuations: Jupiter’s JUP Token Takes a Dive Post-Airdrop

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