Solana’s Jupiter Hits $1.2 Billion in Daily Volume, Outpacing Uniswap on Ethereum

Jupiter’s huge JUP token airdrop declare started Wednesday, and quantity on the Solana decentralized change (DEX) aggregator soared to new heights within the course of.

In accordance with information from each CoinGecko and Jupiter itself, the platform has racked up greater than $1.2 billion value of each day buying and selling quantity over the previous 24 hours. That makes it prime amongst all crypto DEXes, beating typical chief Uniswap V3 on Ethereum with $854 million (per CoinGecko). Word that the tally doesn’t embrace Uniswap quantity on different chains.

Jupiter’s 24-hour rolling tally additionally seems to be an all-time document for the protocol, which has not too long ago seen surging demand. One other information supply, DeFi Llama, reveals that Jupiter’s single calendar-day quantity document is simply above $1 billion on December 14, 2023.

Right now’s merchants gained’t get something from the preliminary JUP airdrop, which serves up 1 billion tokens for earlier Jupiter customers to say. Jupiter took a snapshot of eligible wallets in November and stated that about 955,000 wallets might declare tokens in the course of the drop.

However there’s purpose to be optimistic: Jupiter has allotted one other 3 billion tokens, 30% of the full token provide, for future airdrops to reward newer customers. The timing for the following airdrop has not but been introduced, nonetheless, and amid the thrill of declare day and the sizable drops touchdown in Solana wallets, merchants are keen to start out racking up exercise on the platform.

Jupiter opened up the declare at 10 a.m. ET and the coin began with a market value of about $0.42, in line with information from Birdeye. JUP rapidly popped over 70% to a value above $0.72, as Decrypt reported earlier, however it has since calmed to a present value under $0.67.

Even with the sinking value late Wednesday, JUP instructions a market cap of about $914 million primarily based on the present circulating provide, and the token has generated over $500 million in buying and selling quantity in lower than 9 hours.

In accordance with a Dune dashboard that tracks public blockchain information, eligible wallets have already claimed about 566 million JUP tokens out of the preliminary 1 billion JUP airdrop allocation. Practically 392,000 distinctive pockets addresses have claimed tokens up to now, as of this writing.

SOL itself has fallen about 6% on the day to the present value of round $97, in line with CoinGecko, after bouncing up and down because the JUP drop.

Edited by Ryan Ozawa.

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