Token

Solana

Jupiter

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/jupiters-jup-token-surge-following-solana-airdrop-raises-eyebrows" rel="noopener noreferrer nofollow">Jupiter’s JUP Token Surge Following Solana Airdrop Raises Eyebrows</a><br></p>
<p style="text-align: justify">Jupiter’s digital currency, JUP, has seen a significant influx of capital and investor interest following a substantial $700 million airdrop within the <a href="https://en.bitcoinhaber.net/crypto-analysts-warn-of-short-term-decline-for-solana-sol" rel="noopener noreferrer nofollow">Solana</a> ecosystem. Despite the positive market reaction, the token’s distribution strategy has sparked debate and scrutiny.</p>
<h2 id="jupiter-s-token-distribution-faces-backlash">Jupiter’s Token Distribution Faces Backlash</h2>
<p style="text-align: justify">The JUP token’s current trading price hovers around $0.60, pushing its market capitalization just over the $800 million mark. Jupiter operates as a decentralized exchange, optimizing trades across various Solana-based platforms to ensure competitive pricing.</p>
<p style="text-align: justify">A notable airdrop on January 31 saw Jupiter dispensing JUP tokens to users, rewarding their platform engagement. These tokens immediately became tradable, and many major cryptocurrency exchanges, including Binance, started listing JUP.</p>
<h2 id="controversy-and-denial-of-wrongdoing-by-jupiter-s-founder">Controversy and Denial of Wrongdoing by Jupiter’s Founder</h2>
<p style="text-align: justify">Following the airdrop, critics of the project labeled the trading pool tactic as a camouflaged initial DEX offering, leading to accusations that the development team offloaded JUP tokens worth over $200 million using this pool.</p>
<p style="text-align: justify">The altcoin’s price witnessed a minor slump to $0.56 on February 1 amidst these controversies. In response, Meow, the founder of Jupiter, firmly denied these allegations and the speculation about liquidity removal from the project. Meow maintained that the launch pool was intended to counter the selling pressure and would last for a week, after which the pooled tokens would be secured in the team’s treasury or set aside for future liquidity provisions. Despite the challenges, Jupiter continues to enjoy backing from the Solana community, who value the project’s transparency and independence from venture capital influence.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/jupiters-jup-token-surge-following-solana-airdrop-raises-eyebrows" rel="noopener noreferrer nofollow">Jupiter’s JUP Token Surge Following Solana Airdrop Raises Eyebrows</a></h5>

Jupiter’s JUP Token Surge Following Solana Airdrop Raises Eyebrows

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