Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Jupiter's JUP Tokens Amass Billions in Trading Volume and Thousands of Holders After $700 Million Airdrop, Drawing Criticism Over Distribution Mechan

Jupiter's JUP Tokens Amass Billions in Trading Volume and Thousands of Holders After $700 Million Airdrop, Drawing Criticism Over Distribution Mechan

CointimeCointime2024/02/02 11:09
By:Cointime

Jupiter's JUP tokens have gained significant trading volumes and thousands of holders following a $700 million airdrop to Solana ecosystem users. The token is currently trading at 60 cents with a market capitalization of over $800 million. Jupiter is a decentralized exchange that routes orders to other Solana-based exchanges and executes the best available price for an asset. The DEX rewarded its users with JUP tokens based on their activity on the platform and offered the tokens on the open market using a trading pool. While some have criticized the pool sales as an initial DEX offering disguised as an airdrop, Jupiter's founder has dismissed these allegations as false. The sale also acted as a testing bed for Jupiter's LFG launchpad, which will allow the project to issue tokens to Solana users in the future.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

CME Bitcoin Friday Futures experience notable increase in institutional demand

CME’s Bitcoin Friday Futures weekly contracts have seen a significant uptick in institutional interest, reflecting growing demand for exposure to the digital asset market.Since their launch in late September, over 380,000 CME Bitcoin Friday Futures contracts have traded, reaching a daily average volume of 12,400 contracts.

The Block2024/11/15 16:45

Ethereum ETFs record highest weekly trading volume since launch

This past week, Ethereum ETFs recorded over $1.63 billion of trading volume, up over 44% from the previous week.The following is an excerpt from The Block’s Data and Insights newsletter.

The Block2024/11/15 16:45

BTC falls below $88,500

Cointime2024/11/15 15:22