Jupiter Exchange’s token, JUP, is generating excitement as airdrop hunters seek more than $1 million. Solana-based exchanges witness erratic movements of tokens.
Airdrops and Profit for Traders
Jupiter Exchange’s native token, JUP, shook up the cryptocurrency landscape as airdrop hunters made massive profits of over $1 million. According to data from Look On Chain and Solscan, the airdrop distributed 5.5 million JUP worth $3.6 million to 27,600 wallet addresses.
Traders with wallet addresses 7poJrJn, 2rSAFYA, and DyyQ55ei emerged as the main beneficiaries, accumulating a significant amount of JUP. This amplifies interest in the price action of JUP, which was trading positively at the time of reporting.
Despite generating profits, the mentioned addresses maintained significant JUP holdings. The Jupiter Exchange community celebrated the success of the airdrop and highlighted plans to improve the ecosystem and foster the Solana ecosystem.
Jupiter’s Strategic Movement
Jupiter Exchange received a lot of attention with its Binance listing. The project founder, known anonymously as Meow, clarified the recent market movements and strategic list. Jupiter’s integration with Mercuryo introduces a fiat onramp to streamline user onboarding and provide a seamless Solana navigation experience.
The collaboration with Mercuryo is consistent with Jupiter’s commitment to a user-friendly approach to the Solana ecosystem. The platform, which includes bridge comparators and wormhole bridges, provides multifaceted services. Jupiter’s commitment allows it to play a key role in the evolving Solana blockchain network.
On January 31, prior to the Solana-based JUP airdrop, Ethereum experienced a 430% surge, rising from $0.005 to $0.026 before falling back to $0.007. Ethereum’s JUP, launched in 2017, is no longer active. This is in contrast to Solana-based Jupiter, a decentralized exchange integration service.