Jupiter started giving away a lot of JUP tokens on Wednesday, which caused the trading volume on the Solana decentralized exchange to increase a lot.
According to information from CoinGecko and Jupiter, the platform had over $1. 2 billion worth of trades in the last day. This makes it the best among all cryptocurrency trading platforms. It is better than the popular Uniswap V3 on Ethereum, which has $854 million (according to CoinGecko). Please keep in mind that the count does not include the amount of trading activity on Uniswap that happens on other blockchains.
Jupiter’s count of people using the protocol in one day seems to be the highest ever. Lots of people are using the protocol more than ever before. Another source of information, called DeFi Llama, shows that on December 14, 2023, Jupiter’s highest volume in a single day was just over $1 billion.
Today’s traders won’t receive anything from the first JUP giveaway, which gives 1 billion tokens to previous Jupiter users. Jupiter checked wallets in November and found that about 955,000 of them could get tokens during the drop.
But there is a good reason to feel positive: Jupiter has set aside 3 billion more tokens, which is 30% of all the tokens, for future airdrops to give to new users as a reward. The time for the next airdrop has not been announced yet. People are excited about claim day and the big drops in their Solana wallets. Traders want to start using the platform more.
Jupiter started the claim at 10 a. m ET and the coin started at a market price of around $0. 42, according to information from Birdeye. JUP went up by over 70% to more than $0. 72, but now it’s at a price below $0. 67
Despite the price dropping, JUP is still worth about $914 million based on the amount available for trading. The token has been traded for over $500 million in less than nine hours.
Based on a Dune dashboard that monitors public blockchain data, 566 million JUP tokens out of the 1 billion originally allocated for the airdrop have been claimed by eligible wallets. Almost 392,000 different wallet addresses have taken tokens at this moment.
The price of SOL has dropped about 6% today to around $97, according to CoinGecko. This comes after the price has been going up and down since the JUP drop.