Solana DEX replaces Jupiter Uniswap among stablecoins, while the windfall is high
Solana-based decentralized exchange Jupiter has topped the charts with $480 million in the past 24 hours – an airdrop for the new memecoin and a stable coin exchange under heavy stress.
Even the trading activity Jupiter beat Ethereum-based volumes on Uniswap from both V2 and V3 protocols by $10 million.
A little over $50 million of Jupiter's total daily trading volume comes from traders buying and selling “wen,” a memecoin that can be claimed by any Solana user who has interacted with Jupiter in the past six months, as well as Solana owners. Saga phone.
Memecoin was developed by Jupiter developers as an experiment, ahead of the much-anticipated airdrop of the exchange's native token JUP, which currently starts on January 31st.
However, the largest volume on Jupiter on the last day was the Solana (SOL) to Circle's USD Coin (USDC) and Tether (USDT) trade, accounting for $191 million of the day's total volume.
Related: Airdrop Season? Protocols will offer $700M token airdrops in one week
In the pre-market, JUP tokens are sold at around $0.61, according to the eternal data of the sale on the decentralized currency Aevo. The total value of the 1 billion token JUP airdrop could exceed $600 million at current prices.
The market excitement around WEN and JUP is among the recently announced airdrops from various projects in the crypto ecosystem.
On January 25, Ethereum scaling solution AltLayer announced a $100 million airdrop to its users.
Meanwhile, multi-layer developer Dymension plans to launch its mainnet in the next few days, with a total of 70 million DYM tokens – worth an estimated $210 million at the pre-market – going live to eligible users.
Asia Express: OKX token's $6.5B crash, crypto exec ‘Mr Bang' on the run
