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Jupiter's JUP Token Launch Sees Record Trading Volume on Solana

Despite initial user complaints, the launch of Jupiter's native token, JUP, resulted in a surge in trading volume and demonstrated Solana's ability to handle high demand.

solana airdrop Breaking Push jupiter
DeFi DEX solana airdrop Breaking Push token jupiter JUP
DEX Ethereum SOL solana airdrop Breaking Push uniswap jupiter JUP
Blockworks

Overview

  • Jupiter, a Solana-based decentralized exchange aggregator, has launched its native token, JUP, with an initial circulating supply of 1.35 billion tokens.
  • The token was distributed through an airdrop to nearly a million Solana wallets, making it one of the largest token launches in 2024.
  • Following the token launch, Jupiter's daily trading volume soared to nearly $1.4 billion, surpassing Uniswap V3 on Ethereum.
  • Transactions on the Solana blockchain nearly doubled minutes after the Jupiter airdrop, demonstrating the network's ability to handle high demand.
  • Despite some user complaints about the token launch pool, Jupiter's founder, Meow, defended the transparency of the launch process.