Jupiter’s Daily Trading Volume Hits $1.2Billion, Outpacing Ethereum-Based DEX Uniswap
Jupiter Surpasses Uniswap in Daily Trading Volume
Jupiter conducted its most-awaited JUP airdrop on Wednesday. Since then, the Solana-based decentralized exchange aggregator has seen its daily trading volume surge to a new level. Data from CoinGecko shows that Jupiter has processed trades worth $1.2 billion in the last 24 hours.
The figure places Jupiter above the largest Ethereum-based decentralized exchange, Uniswap, which boasts $855 million in trading volume. It is worth mentioning that the Uniwap tally doesn’t include volume on other blockchains where the exchange has a presence.
According to data from DeFiLllama, the $1.2 billion worth of trades that Jupiter has processed marks an all-time high for the exchange. The only other time the platform handled trades worth over $1 billion in a single day was December 14th, 2023.
At the time, the surge was due to an increased number of traders who intensified their trading activity to increase their chances of becoming eligible for yesterday’s JUP airdrop. According to a recent Jupiter X post, over 950,000 wallets qualified to claim some JUP tokens.
More JUP Airdrops Are Coming
Traders who have pushed Jupiter’s trading volume to new heights today will not receive any tokens. However, they might earn some in the near future, considering that the decentralized exchange has allocated 30% of JUP’s total supply to airdrops.
Jupiter has yet to announce the next JUP airdrop, but given the substantial number of tokens landing in the wallets of those who qualified for yesterday’s airdrop, many traders are eager to begin intensifying their trading activity on the exchange early.
JUP’s Market Performance
JUP started trading at $0.42 per Birdeye’s data. Within a few hours, the token surged 74% to $0.71. However, it has now dropped 68% to trade at $0.58. Despite the sinking price, JUP boasts a market capitalization of $715 million, per data from CoinGecko.
Meanwhile, data on the Dune dashboard shows over 570 million JUP tokens of the 1 billion allocated for Wednesday’s airdrop have already been claimed. Moreover, about 393,000 wallets have claimed their share of JUP tokens as of this writing. The remaining wallets have until February 25th to do so.
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