In the dynamic Solana ecosystem, the SolanaFloor-powered platform, Jupiter, a liquidity aggregator introduced in 2021, achieved a significant milestone with a remarkable 24-hour trading volume of nearly $520 million on January 27. Despite its relatively recent inception, Jupiter has processed an impressive $66.64 billion in transactions.
The surge in Jupiter's trading volume positioned it ahead of Uniswap v3's Ethereum market, which recorded $510 million at the time. Jupiter's upward trajectory is evident, with its trading volume peaking at $16 billion in December. The platform is set to exceed that figure this month, already surpassing $15 billion in trading volume.
Community members attribute Jupiter's success to Solana's low transaction fees. Solana's co-founder, Anatoly Yakovenko, expressed astonishment, and Adeniyi Abiodun, co-founder of the rival Sui blockchain network, acknowledged the achievement.
CoinMarketCap currently positions Jupiter as the fifth-largest DEX by trading volume in the past day, following Uniswap v3, Polygon-based Kine Protocol, Cosmos-based dYdX chain, and Helix. Notably, Jupiter is gearing up to launch its native JUP token by the end of the month, aiming to symbolize DeFi 2.0 and foster community engagement.
Solana PricePerformance. Source:BeInCrypto
In tandem with Jupiter's success, Solana's native cryptocurrency (SOL) experienced a robust resurgence. SOL's value surged over 5% to approximately $100, briefly retracing to $98. This upswing boosted its market capitalization to $42.5 billion. Analysts anticipate a potential continuation of this upward trend, recalling Solana's remarkable 660% surge in the previous year.
Solana's ecosystem is gaining attention within the crypto community, attributed to numerous airdrops designed to attract new participants and a multitude of partnerships. This strategic approach contributes to heightened engagement and interest in the Solana network.
Jupiter expands its DEX services by acquiring Coinhall and SolanaFM, enhancing multi-chain trading and data capabilities, and launching new products like Jupiter Mobile and Ape.Pro.
EdmundAs a hot star in the Solana ecosystem, Jupiter has already established a firm foothold in the DeFi field although it was launched not long ago. But on the other hand, Jup’s future also presents both opportunities and dangers.
JinseFinanceJupiter announces potential token launches for Sanctum, Sharky, and deBridge, empowering its community to decide their fate. Despite past controversies, the JUP token sees a surge in value, marking a promising outlook for Jupiter's ecosystem.
JoyCan Jupiter, known as the “largest airdrop in history,” surpass Uniswap in the future?
JinseFinanceAt 23:10 pm on January 31, 2024, Beijing time, Solana ecological DeFi protocol Jupiter platform currency, $JUP, was simultaneously launched on the two major exchanges Binance and OKX.
JinseFinanceJupiter token's Solana launch enhances market presence and liquidity options, shaping the DeFi landscape.
Huang BoJupiter challenges Uniswap in 24-hour volume, sparking controversy. Solana vs. Ethereum competition intensifies in the DeFi space.
EdmundPhantom announces Jupiter's Solana airdrop. Decentralized stablecoin with high DeFi transactions. JUP token empowers governance. Initial airdrop for pre-November 2, 2023, users; stay engaged for future opportunities.
Huang BoFollowing the last hugely successful Jito airdrop (with a peak value of over 450 million US dollars), the JUP airdrop is coming soon.
JinseFinanceSolana aggregator Jupiter plans a system upgrade focused on reliability and user feedback, aiming to enhance performance and maintain its lead in the evolving blockchain market.
Alex