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

Jupiter’s massive JUP token airdrop claim started Wednesday, and volume around the Solana decentralized exchange (DEX) aggregator soared to new heights along the way.

Based on data from both CoinGecko and Jupiter itself, the woking platform has tallied up greater than $1.2 billion price of daily buying and selling volume in the last 24 hrs. Which makes it top of all crypto DEXes, beating typical leader Uniswap V3 on Ethereum with $854 million (per CoinGecko). Observe that the tally doesn’t include Uniswap volume on other chains.

Jupiter’s 24-hour moving tally also seems to become an exciting-time record for that protocol, that has lately seen surging demand. Another databases, DeFi Llama, implies that Jupiter’s single calendar-day volume record is simply above $1 billion on December 14, 2023.

Today’s traders won’t get everything from the first JUP airdrop, which delivers 1 billion tokens for earlier Jupiter users to assert. Jupiter required an overview of qualified wallets in November and stated that about 955,000 wallets could claim tokens throughout the drop.

But there’s need to be positive: Jupiter has allotted another 3 billion tokens, 30% from the total token supply, for future airdrops to reward newer users. The timing for the following airdrop hasn’t yet been announced, however, and among the excitement of claim day and also the sizable drops landing in Solana wallets, traders are wanting to start accumulating activity around the platform.

Jupiter opened up in the claim at 10 a.m. ET and also the gold coin began having a market cost of approximately $.42, based on data from Birdeye. JUP rapidly sprang over 70% to some cost above $.72, as Decrypt reported earlier, however it has since calmed to some current cost below $.67.

Despite the sinking cost late Wednesday, JUP instructions an industry cap of approximately $914 million in line with the current circulating supply, and also the token has produced over $500 million in buying and selling volume in under nine hrs.

Based on a Dune dashboard that tracks public blockchain data, qualified wallets have previously claimed about 566 million JUP tokens from the initial 1 billion JUP airdrop allocation. Nearly 392,000 unique wallet addresses have claimed tokens to date, at this moment.

SOL itself has fallen about 6% at the time to the present cost close to $97, based on CoinGecko, after bouncing up and lower because the JUP drop.

Edited by Ryan Ozawa.

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