Solana

Jupiter

<p class="is-style-lead">Amid the Jupiter Exchange token debacle, one airdrop farmer over $1 million in JUP coins using thousands of Solana wallet addresses.</p>
<p>The trader received 1.85 million Jupiter (JUP) tokens using 9,246 wallets to interact with the Solana-based decentralized exchange (DEX). Part of the airdrop haul, worth over $1 million even after a 69% price dip, was liquidated on Jupiter for profits.</p>
<p>The user deposited around $77,000 in airdropped tokens on Bybit and Mexc. According to LookOnChain, the airdrop farmer held 319,000 JUP valued at $196,000 on-chain. This person accounts for roughly 1% of the eligible wallets for Jupiter’s airdrop.</p>
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   <p lang="en" dir="ltr">It seems someone made $1.17M in the <a href="https://twitter.com/search?q=%24JUP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$JUP</a> <a href="https://twitter.com/hashtag/airdrop?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#airdrop</a>!<br><br>Wallet"7poJrJ" received an airdrop of 1.85M <a href="https://twitter.com/search?q=%24JUP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$JUP</a>($1.17M) via ~9,246 wallets.<br><br>Then sold 1.4M <a href="https://twitter.com/search?q=%24JUP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$JUP</a>($898K) at $0.6371 on <a href="https://twitter.com/hashtag/DEX?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#DEX</a>, and deposited 121K <a href="https://twitter.com/search?q=%24JUP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$JUP</a>($77K) to <a href="https://twitter.com/hashtag/Bybit?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bybit</a> and <a href="https://twitter.com/hashtag/MEXC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#MEXC</a>.<br><br>The wallet has 319K <a href="https://twitter.com/search?q=%24JUP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$JUP</a>($196K) left currently. <a href="https://t.co/llz2fWYWJN" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/llz2fWYWJN</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1753016097941680638?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 1, 2024</a>
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<p>You might also like: <a href="https://crypto.news/wen-airdrop-concludes-with-unclaimed-supply-burned-price-sees-significant-movement/" rel="noopener noreferrer nofollow"> WEN airdrop concludes with unclaimed supply burned, price sees significant movement </a></p>
<p>Jupiter has become one of the most popular Solana defi protocols following its recent DEX launch and two token distributions in quick succession.&nbsp;</p>
<p>First, users <a href="https://crypto.news/solanas-wen-memecoin-nears-100m-market-cap-following-launch/" target="_blank" rel="noopener noreferrer nofollow">received</a> the WEN memecoin as a salute to crypto culture and JUP creator Weremeow. A fractionalized NFT poem inspired the token, essentially a <a href="https://crypto.news/wen-airdrop-concludes-with-unclaimed-supply-burned-price-sees-significant-movement/" target="_blank" rel="noopener noreferrer nofollow">stress test</a> for the next airdrop.&nbsp;</p>
<p>JUP, Jupiter’s native exchange token, came next. This initiative shared $700 million in tokens to early supporters and users of the Solana DEX. However, the launch was met with controversy.</p>
<p>The biggest concern was tied to a seven-day period where Weremeow and his team could sell 2.5% of JUP’s 10 billion token supply, but only if the price was above 70 cents. Users and airdrop recipients <a href="https://crypto.news/jup-sink-by-63-amid-700m-airdrop-and-wrong-pump-scheme/" rel="noopener noreferrer nofollow">decried</a> Weremeow’s elaborate approach, fearing that a massive dump may shake faith in the project.&nbsp;</p>
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   <p lang="en" dir="ltr">it was slightly confusing sorry about that. the tokens is whatever it is in the DLMM pool. there is no extra selling whatsoever after 7 days.</p>— meow 🥧 (@weremeow) <a href="https://twitter.com/weremeow/status/1753046661235097681?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 1, 2024</a>
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<p>The Solana DEX has lept above its peers like Uniswap in daily trading volume as traders flocked to capitalize on the latest airdrop frenzy. Per <a href="https://defillama.com/aggregators/jupiter" target="_blank" rel="noopener noreferrer nofollow">DefiLlama</a> data, the exchange recorded $1.2 billion in volume over 24 hours, nearly $300 million more than Uniswap.</p>
<p>Read more: <a href="https://crypto.news/jup-sink-by-63-amid-700m-airdrop-and-wrong-pump-scheme/" rel="noopener noreferrer nofollow"> JUP sink by 63% amid $700m airdrop and wrong pump scheme </a></p>

Jupiter airdrop farmer earns $1.1m using thousands of wallets

crypto.news

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