Jupiter’s Trading Volume Surges to $1.4 Billion Following Token Launch

The daily trading volume of the DEX aggregator on Solana, Jupiter, soared to a record $1.4 billion following the launch of its native token, JUP.

The total number of transactions reached 1.57 million, with the number of unique wallets hitting 288,260. 

The most popular trading pair was USDC/JUP, with a trading volume of approximately $218 million. 

On January 31, the project conducted a second round of airdrops for community participants. According to Dune, at the time of writing, only 45% or 430,555 eligible wallets claimed 634 million JUP.

The average token price on decentralized exchanges is $0.61. Major CEXs like Bybit, Binance, Bitfinex, and OKX have also listed the coin. 

Analysts at Lookonchain noted that one suspected airdrop hunter received 1.85 million JUP, approximately worth $1.17 million. Some of the coins have already been sold or exchanged on trading platforms. 

It seems someone made $1.17M in the $JUP #airdrop!

Wallet”7poJrJ” received an airdrop of 1.85M $JUP($1.17M) via ~9,246 wallets.

Then sold 1.4M $JUP($898K) at $0.6371 on #DEX, and deposited 121K $JUP($77K) to #Bybit and #MEXC.

The wallet has 319K $JUP($196K) left currently. pic.twitter.com/llz2fWYWJN

— Lookonchain (@lookonchain) February 1, 2024

During the launch, traders inadvertently executed a Pump&Dump with a token that had a similar ticker, JUP.

Back in November 2023, Jupiter conducted a retrodrop, rewarding early participants.