Jupiter Launches Airdrop and Becomes Crypto’s Latest Unicorn
Solana-based decentralized exchange (DEX) aggregator Jupiter has recently launched a massive airdrop of its native Jupiter (JUP) token, which has caused the price of JUP to surge and turn the protocol into a crypto unicorn.
A crypto unicorn refers to a project or token with a market cap exceeding $1 billion. Currently, the Jupiter price is around $0.65, giving it a market cap just under $1 billion. However, the fully diluted market cap is estimated to be around $7.18 billion.
The Jupiter airdrop began at 10:00 am EST and led to a 70% increase in the Jupiter price on decentralized exchanges.
Claiming JUP Tokens and Eligibility
According to Flipside dashboard, eligible wallets have claimed 47.3% of the 1 billion airdropped JUP tokens. A total of 955,000 wallets were eligible to receive JUP tokens.
To check eligibility for receiving free JUP tokens, Solana network users can use the Solana Airdrop Checker by entering their Solana wallet address on the website. If eligible, users can claim their tokens on Jupiter’s LFG Launchpad by connecting their wallet.
Jupiter Price Prediction
As the JUP token is still in its early trading stages, chart analysis may not be very helpful in predicting its future price. Instead, it is advisable to consider the protocol’s tokenomics and fundamentals.
Jupiter’s DEX volume reached over $1 billion on its token launch day, and weekly trading volumes could potentially recover to December’s highs of $4-5 billion. These high trading volumes indicate that Jupiter’s market cap is in the billions.
However, investors should be cautious of potential short-term pullbacks in the JUP price due to airdrop hype and over-inflation. A dip in the Jupiter price could present a buying opportunity for long-term investors if it falls towards $0.40.
Hot Take: Jupiter’s Airdrop Boosts Price and Creates Excitement
Jupiter’s airdrop of its native JUP tokens has propelled the protocol into the realm of crypto unicorns. The surge in price and high trading volumes demonstrate the excitement surrounding this event. Eligible users can claim their JUP tokens through Jupiter’s LFG Launchpad after checking their eligibility using the Solana Airdrop Checker. While it is difficult to predict the future price of JUP based on chart analysis, considering the tokenomics and fundamentals of Jupiter can provide insights. However, investors should be mindful of potential short-term pullbacks and consider buying opportunities if the price dips. Overall, Jupiter’s airdrop has created significant buzz in the crypto community and attracted attention from both new and experienced investors.
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