DeFi aggregation platform Jupiter in the Solana ecosystem is set to conduct an airdrop tonight at 11pm, attracting widespread attention in the cryptocurrency market. Currently, cryptocurrency exchanges Binance and OKEx have announced their support for spot trading of Jupiter (JUP), and the current OTC price of JUP is temporarily reported at $0.67.
(Brief introduction:
Solana’s largest airdrop: In-depth analysis of Jupiter product and token valuation)
(Background supplement:
Solana’s largest airdrop is here! Aggregator Jupiter to launch token at the end of January, with JUP OTC price temporarily reported at $0.76)
Table of Contents
Binance and OKEx to open spot trading for JUP
OTC price temporarily reported at $0.67
Jupiter: A one-stop DeFi service platform on Solana
Following the airdrop of projects like Pyth Network and Jito in the Solana ecosystem, the most highly anticipated airdrop in the market is Jupiter, a DeFi aggregation platform. Last night, founder Meow announced on X platform that users can now verify their eligibility and quantity for the airdrop, and can apply on the project platform after 11pm tonight (Taiwan time).
At around 3pm, Binance announced that it will list Jupiter (JUP) at 11:30pm tonight and add a seed label to it (indicating that the project may have higher volatility), opening spot trading pairs for JUP/USDT, JUP/FDUSD, and JUP/TRY. Users can now make deposits of JUP, but withdrawals will only be available from tomorrow night at 11:30pm.
In addition, Binance’s isolated margin trading will add JUP asset options within 48 hours after the start of trading tonight, and will open isolated margin trading pairs for JUP/USDT.
Apart from Binance, OKEx exchange announced two days ago that it will launch Jupiter (JUP) and open spot trading pairs for JUP/USDT once user deposits are sufficient.
Source: Binance Official Website
According to data from JUP futures on the options trading platform Aevo, the current JUP price is temporarily reported at $0.6531, with a 2.08% increase in the past 24 hours and a trading volume of approximately $1.471 million in the past 24 hours. The current open interest is $2.68 million.
Although the news of JUP being listed on Binance did not boost the token’s OTC price, it is worth noting that after hitting a low of $0.26 recently, JUP had a significant rebound on the 26th, which coincided with the airdrop of the meme token $WEN on the Jupiter LFG Launchpad platform. This indicates that the successful airdrop of $WEN on the platform also stimulated market expectations for the price of Jupiter’s native token.
Further reading:
Solana’s new airdrop “One person can claim 80 SOL”! Jupiter’s new meme token $WEN skyrocketed hundredfold, now listed on Matcha
Source: Aevo
Jupiter is a one-stop DeFi aggregation platform on Solana that supports users to exchange tokens with low slippage and low transaction fees. Jupiter aims to provide products with various functions on a single platform, including trading, limit orders, dollar-cost averaging (DCA), cross-chain transactions, perpetual contracts, and the recently launched LFG Launchpad for new token issuance.
The platform’s liquidity token JLP currently enjoys an APY of up to 174.94%.
Moreover, Jupiter also aims to build tools for developers to easily connect DApps, user interfaces, or web browsers to the platform. Currently, notable projects connected to Jupiter on Solana include Orca, Raydium, Serum, and Unibot on Solana.
Further reading:
Solana’s largest airdrop: In-depth analysis of Jupiter product and token valuation
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