Jupiter’s JUP token has fallen 3% to $0.90 ahead of its latest airdrop, which begins on January 22, distributing 700 million tokens worth $630 million.
Jupiter (JUP), a decentralized exchange built on Solana, has a native token that has lost 3% in value in the last 24 hours and is now worth $0.90. The drop comes as the platform gets ready to start its newest airdrop claims.
JUP has dropped 25% since its recent high point of $1.20, which it reached over the weekend after more trading on decentralized exchanges (DEXs).
DefiLlama says that trade on Solana-based DEXs more than tripled on a weekly basis. This was partly because of the release of a meme coin with former U.S. President Donald Trump on it.
Jupiter launched its airdrop eligibility checker last week, and on Tuesday, the platform said that the claim process for its next airdrop will start on January 22 at 10:30 AM ET.
About 2 million wallets that are qualified will each get a share of 700 million JUP tokens, which are worth $630 million right now.
These wallets are split into three user groups. Jupiter, on the other hand, is telling users to be careful because Solana’s network might get crowded, which would mean higher transaction fees. Users have up to three months to get their keys, so there’s no need to act right away.
Users must use an email address to create a Jupiter profile in order to join. People who have more than one qualified wallet will have to claim tokens for each one separately.
Jupiter’s first airdrop of JUP tokens happened in January 2024, when 1 billion tokens were sent to wallets that had dealt with Jupiter’s ecosystem. That was the all-time high for JUP, which was $2.00. Its value has since dropped 55%, to $0.90, where it is now.
