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Jupiter Token Launches for Trading on Solana-based Decentralized Exchange Aggregator
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Jupiter, a decentralized exchange aggregator operating on the Solana blockchain, is set to launch its native token for trading today. The token, named JUP, will be available on various centralized exchanges, including Bybit, Binance, Bitfinex, OKX, among others. Trading is expected to commence after 10 am EST.
Token Details:
- Total Supply: The total supply of JUP tokens is 10 billion, with 1.35 billion tokens in circulation, representing 13.5% of the overall supply.
- Liquidity Pool: Jupiter has created a native liquidity pool, offering tokens initially at $0.40, following the pool's price curve.
Pre-launch Market:
While the official distribution is set to begin today, JUP has been available for pre-launch trading as a perpetual derivative on Aevo. As of the pre-market trading, JUP's price on Aevo stands at $0.66, resulting in a fully diluted market cap of $6.6 billion.
Retrospective Airdrop:
Upon the token's activation, Jupiter will initiate a retrospective airdrop. This airdrop serves as a reward for users who engaged in trading activities, with a minimum threshold of $1,000 on the platform before November 2. The airdrop targets 955,000 wallet addresses, but currently, fewer than 670,000 addresses have claimed their tokens.
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Jupiter's Market Presence:
Jupiter holds the position of the top decentralized exchange aggregator on the Solana blockchain, boasting significant trading volume. In the last 24 hours, the platform facilitated a trading volume exceeding $600 million, emphasizing its prominence in consolidating liquidity from various decentralized exchanges (DEXs) on the Solana network.
Conclusion:
The launch of the Jupiter token marks a significant milestone for the decentralized exchange aggregator operating on the Solana blockchain. With trading availability on major centralized exchanges, Jupiter aims to enhance its market presence and provide users with increased liquidity options within the Solana ecosystem. As the platform continues to grow, its impact on the decentralized finance (DeFi) space may become increasingly pronounced.
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