Jupiter, the leading decentralized exchange on Solana, has begun its Jupuary airdrop, making over 2 million wallets eligible to claim 700 million JUP tokens. This airdrop, one of the largest in recent times, aims to boost community engagement and onboard users. Despite some initial challenges with high demand, the airdrop has already caused JUP's trading volume to surge by over 100%. Additionally, JUP has caught the attention of institutional investors, with its recent addition to Grayscale's list of potential investment assets for 2024.
The launch of Jupiter's JUP token to nearly a million Solana wallets has resulted in a surge of over 70% in JUP's value. This showcases the strength of Solana's network in handling heavy traffic and reflects the positive sentiment within the crypto community. Despite initial discrepancies in opening prices, Solana's infrastructure has proven its robustness, managing over 2,000 transactions per second without hitches. The success of the Jupiter airdrop sets a positive tone for future endeavors within the Solana ecosystem.
The decentralized trading aggregator Jupiter, built on Solana blockchain, will distribute its native JUP token today through an airdrop. With an initial maximum circulating supply of 1.35 billion tokens, the token will be distributed to market makers, liquidity pools, and eligible wallet holders. This could lead to a market capitalization of $891 million, with 1 billion tokens set aside for airdrops.