Solana’s DEX Jupiter has surpassed Uniswap v3 in 24-hour trading volume.
The successful WEN airdrop to over a million wallets via Jupiter fueled a surge in trading volume.
Jupiter, the Solana-based decentralized exchange (DEX), showcased a significant 24-hour trading volume of nearly $520 million, surpassing Uniswap v3’s Ethereum market, which recorded $436 million. This surge was propelled by the excitement surrounding a new memecoin WEN airdrop and increased stablecoin swaps.
Solana (SOL), the standout altcoin of 2023, continues to dominate the crypto market as it charges into 2024. The recent data reveals that Solana experienced its highest transaction volumes since October 2022. Moreover, the network achieved its highest-ever level of daily new addresses.
Adding to the Solana buzz, WEN emerges as a new meme coin, following in the footsteps of Solana’s previous sensations like BONK and Dogwifhat (WIF). Further, WEN garnered huge attention after a successful airdrop to over a million wallets via Jupiter on January 26th, marking a significant milestone for Solana’s decentralized exchange aggregator.
Solana DEX Jupiter on the Lead
The fervor surrounding Solana is palpable, especially evident in the trading arena. At the time of writing, Jupiter’s volumes hit $516 million in the last 24 hours, surpassing Ethereum-based volumes on Uniswap from both V2 and V3 protocols by over $15 million. Combined, Uniswap’s trading volume from these protocols amounted to $497 million.
Top DEX by Trading Volume (Source: CoinGecko)
In the past 24 hours, WEN has seen a significant increase, rising by over 49% to reach $0.0001454. It has also witnessed a surge in daily trading volume, soaring by more than 66% to $119 million.
Notably, the WEN airdrop reached over a million eligible Solana wallets, including active Jupiter users, holders of various popular NFT projects, and even owners of the Solana Saga smartphone.
This event also serves as a litmus test for Jupiter ahead of its planned airdrop of its governance token, JUP, which is set to occur this Wednesday. Currently, JUP tokens are trading at approximately $0.61 as per pre-market data.