“JUP has fallen 2% over the past 24 hours.”, — write: www.coindesk.com
JUP has fallen 2% over the past 24 hours.Updated Jan 22, 2025, 9:41 a.m. UTCPublished Jan 22, 2025, 9:38 a.m. UTC
Jupiter, a Solana-based decentralized exchange, will airdrop 700 million JUP tokens to its community on Wednesday in what it is calling the “largest airdrop in history.”
The airdrop is a part of the project’s annual “Jupuary” event, which was voted into existence alongside another event in 2026 in a governance vote in December. It is scheduled to start at 15:30 UTC.
Initial concerns were raised about the sustainability of supply increase, prompting the proposal to be amended to include a token audit and burn schedule over the next month.
At the time of writing JUP is trading at $0.87 after sliding by 2% over the past 24 hours. The total value of the airdrop is set to be $612 million.
Oliver KnightOliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
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