Solana DEX aggregator Jupiter had an amazing day, handling a whopping $1.38 billion in trades over the last 24 hours. That’s more than double what Jupiter usually handles, making it the most popular DEX platform recently.
The excitement started with Jupiter’s token launch and airdrop yesterday, causing a surge in activity on the Solana network. The web3 wallet Phantom even noted unprecedented levels of traffic, surpassing what they experienced after the recent WEN meme token launch.
Now, let’s talk about Jupiter’s new token, JUP. It started trading at $0.40 on Jupiter’s liquidity pool and quickly gained attention on centralized exchanges like Bybit, Binance, Bitfinex, and OKX. Currently, JUP is trading at $0.60, showing a 50% increase from its initial price. This gives JUP a market cap of $808 million and a fully diluted value of $6 billion.
The JUP token launch also came with an airdrop, rewarding early users who traded at least $1,000 on the platform before Nov. 2. So far, 62.9% of JUP tokens have been claimed across over 450,000 addresses.
Despite the success, some users raised concerns about the token launch pool, accusing the team of selling tokens to the public. In response, Jupiter’s founder, Meow, clarified that the team was transparent about the launch pool mechanics. Meow explained that they reduced the team’s sales ratio and chose this method to ensure a fair and transparent approach for both airdrop recipients and prospective buyers.
So, while there’s excitement and success surrounding Jupiter’s token launch, it’s essential to address user concerns and maintain transparency throughout the process.
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