Jupiter DEX, Solana's leading decentralized exchange (DEX) platform, achieved an incredible record. Within 24 hours of the launch of the JUP token, Jupiter's trading volume soared to $1.38 billion.
This fantastic figure is more than double Jupiter's previous daily trading volume, making the platform the top DEX in the last 24 hours.
What Causes High JUP Token Trading?
The much-anticipated launch of the JUP token was a key driver behind this surge in trading activity.
The JUP airdrop, which was targeted at early adopters of the Jupiter platform, also played a role in attracting user interest and participation.
Also read: Jupiter (JUP): What is it and how does it work
How is the JUP Token Launch Going?
The launch of the JUP token started in the morning with an initial price of $0.40 in the Jupiter liquidity pool. JUP tokens then began trading on centralized exchanges such as Bybit, Binance, Bitfinex, and OKEx.
Currently, the price of JUP has reached $0.60, indicating a 50% increase from the initial price. JUP's market capitalization reached $808 million, with a fully diluted value of $6 billion.
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JUP Airdrop and Token Distribution
At launch, 1.35 billion JUP tokens, or 13.5% of the total supply, were distributed. The JUP airdrop targets early adopters who made a minimum trade of $1,000 on the Jupiter platform before November 2 .
Currently, 62.9% of JUP tokens have been claimed by over 450,000 addresses.
Also read : Free Jupiter Airdrop (JUP): Latest Mechanism and Guide
Controversy Regarding Token Launching
Despite its success, the launch of the JUP token was not without controversy. Some users questioned the Jupiter team's use of a token launch pool to sell tokens to the public.
The Jupiter team, represented by pseudonymous founder Meow, explained that they have been transparent about the launch pool mechanism and have reduced the team's sales ratio from 20% to 2.5%.
Meow emphasized that the team chose a more open and transparent approach compared to other methods such as decentralized token offerings.
The launch of the JUP token and its airdrop has resulted in a tremendous surge in Jupiter's trading volume. This DEX platform has shown great potential and attracted the attention of many users. The future looks bright for Jupiter, with JUP potentially becoming the leading DEX token on Solana.
How to Buy JUP Coin on Bittime
Now you can buy and sell JUP coins in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappbeti. JUP is available on Bittime with JUP IDR pairing.
To be able to buy JUP/IDR tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet.
For your information, the minimum purchase of Bittime assets is IDR 10,000. After that, you can make JUP purchases in the application. More complete guide on how to buy JUP on Bittime
Monitor price chart movements of Jupiter (JUP), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
Awaited Crypto Free Airdrop in 2024
How to Avoid Airdrop Scams? Comprehensive Guide
Crypto Airdrop and Guide on How to Get It for Free
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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