In the last week in the crypto ecosystem, the sensation has been the JUP airdrop launched by Jupiter, a prominent decentralized exchange on the Solana network. The news that has caught the attention of the crypto community has been the astonishing profit of $1.17 million obtained by an astute user in just 24 hours after the airdrop was launched.
Let’s dive into the details of how this financial feat was achieved and how Jupiter has distributed a total of $700 million in JUP tokens.
How did this user win $1 million with the JUP airdrop?
The beneficiary of this astonishing profit is a user whose wallet address bears the distinctive “7poJrJ” prefix. In a strategic move, this wallet received a massive airdrop of 1.85 million JUP tokens, distributed across approximately 9,246 wallets. The initial value of the JUP governance token was around $0.4, but it experienced an explosive rise, reaching $2 in a matter of hours on platforms such as Bybit, KuCoin, Bitfinex, Gate.io, HTX, among others.
The master move occurred when the price of JUP was at $0.6371. At that time, the wallet owner sold 1.4 million tokens, generating an income of approximately $898,000 on decentralized exchanges. Additionally, deposits totaling $77,000 in JUP tokens were made on platforms such as Bybit and MEXC. At the time of writing, around $196,000 in tokens still remain in the astute investor’s wallet.
It seems someone made $1.17M in the $JUP #airdrop!
— Lookonchain (@lookonchain) February 1, 2024
Wallet"7poJrJ" received an airdrop of 1.85M $JUP($1.17M) via ~9,246 wallets.
Then sold 1.4M $JUP($898K) at $0.6371 on #DEX, and deposited 121K $JUP($77K) to #Bybit and #MEXC.
The wallet has 319K $JUP($196K) left currently. pic.twitter.com/llz2fWYWJN
The dazzling JUP airdrop launched by Jupiter
Jupiter, a major player in Solana’s DeFi space, unleashed a massive airdrop of 1.35 billion JUP tokens to nearly a million wallet addresses on January 31. This generous gesture is part of Jupiter’s strategy, which has allocated 40% of its total supply of 10 billion tokens to its community. This data suggests the possibility of future JUP airdrops or even giveaway campaigns.
During this pioneering airdrop, a total of 955,000 wallets that had interacted with the Jupiter protocol before November 2, 2023 were considered eligible to receive JUP tokens. Impressively, the Solana network demonstrated its robustness during the claims and subsequent airdrop trading. Records confirmed that around $700 million in JUP tokens were distributed to the selected wallet addresses.
Future outlook and current price of JUP token
According to data collected by price tracking platform CoinGecko, JUP is currently trading at $0.6 at the time of writing. This value represents a small increase of 2.65% in the last 24 hours, underscoring the cryptocurrency’s continued attraction in digital markets.
