Solana

Jupiter

DeFi

Phantom

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/jupiters-record-trading-volume-and-airdrop-event/" data-wpel-link="internal">Jupiter’s Record Trading Volume and Airdrop Event</a><br></p>
<p class="p1" style="text-align: justify">Solana ecosystem’s largest DeFi platform Jupiter witnessed a record trading volume of $1.38 billion in the last 24 hours following a successful airdrop event and token launch. This figure is more than double the daily trading volume seen by Jupiter in recent days, making it the top DEX platform in the last 24 hours.</p> 
<h2 class="p1" style="text-align: justify" id="continued-interest-in-jupiter">Continued Interest in Jupiter</h2> 
<p class="p1" style="text-align: justify">The eagerly awaited Jupiter token launch and airdrop event on January 31st increased activity on the Solana network, and the Web3 wallet Phantom reported seeing traffic levels it had never experienced before, witnessing three times the total traffic volume following the last WEN meme token launch.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-309981 size-full" src="https://coin-turk.com/wp-content/uploads/2024/02/jup-veri.webp" alt="" width="1011" height="837"></p> 
<p class="p1" style="text-align: justify">Jupiter’s new governance token began trading at 18:00 yesterday, and the tokens were initially priced at $0.40 in Jupiter’s native liquidity pool according to the pool’s price curve. Major centralized exchanges such as Bybit, <a href="https://en.coin-turk.com/binance-ceo-responds-to-allegations-in-cryptocurrency-lawsuit/" data-wpel-link="internal">Binance</a>, Bitfinex, and OKX later started offering trading for the token.</p> 
<p class="p1" style="text-align: justify">According to Tradingview data, JUP was trading at $0.61 at the time of writing, showing a 50% increase from its initial trading price. This gives it a market value of $808 million and a fully diluted value of $6 billion. 1.35 billion tokens, corresponding to 13.5% of the total supply of 10 billion, were in circulation during the launch.</p> 
<p class="p1" style="text-align: justify">Jupiter also opened its first token airdrop event. The retrospective airdrop event targeted 955,000 wallet addresses, rewarding early users who had transacted at least $1,000 on the platform before November 2nd. According to blockchain data analytics platform Dune Analytics, 62.9% of JUP tokens have been claimed in over 450,000 addresses to date. The project plans to distribute four billion tokens, or 40% of Jupiter’s total supply, to users in four stages. Jupiter states that future airdrop rounds will also reward new users.</p> 
<h2 class="p1" style="text-align: justify" id="notable-details-in-the-airdrop-process">Notable Details in the Airdrop Process</h2> 
<p class="p1" style="text-align: justify">The token launch was not without controversy. Some users complained about the team using the token launch pool to sell tokens to the public. In response, the project’s founder Meow stated that the team was transparent about the mechanics of the launch pool.</p> 
<p class="p1" style="text-align: justify">The founder claimed that the team’s sale rate was reduced from 20% to 5%, and then to 2.5% of the token supply. Meow added that the team could have raised more funds through an initial DEX offering or over-the-counter sales if they wanted, implying that they chose a more transparent approach.</p> 
<p class="p1" style="text-align: justify">Another notable issue during the airdrop event was the amount of airdrop one user received. According to a post shared by blockchain data analysis platform Lookonchain, an unidentified Solana user managed to claim 1.85 million JUP tokens worth $1.17 million across 9,246 wallets. The user sold 1.4 million tokens on a DEX for $898,000 and sent 121,000 tokens to Bybit and MEXC exchanges. Currently, they are holding 319,000 tokens in a single wallet.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-309982" src="https://coin-turk.com/wp-content/uploads/2024/02/lookonchain-veri.png" alt="" width="500" height="544"></p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/jupiters-record-trading-volume-and-airdrop-event/" data-wpel-link="internal">Jupiter’s Record Trading Volume and Airdrop Event</a></h5>

Jupiter’s Record Trading Volume and Airdrop Event

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