Jupiter Token AirDrop Announcement
Jupiter, a decentralized exchange aggregator based on the Solana blockchain, is gearing up to distribute a substantial number of JUP tokens through an AirDrop scheduled for 18:00 today. Anticipation is high for the release of 1 billion JUP tokens, with the altcoin poised to enter trading shortly thereafter.
Revised Circulating Supply and Market Valuation
The anonymous founder of Jupiter, Moew, has revealed a reduction in the altcoin’s maximum circulating supply from 1.7 billion to 1.35 billion tokens. With JUP/USD futures currently trading at $0.65, this adjustment implies that the altcoin could debut on centralized exchanges with an estimated market value of around $700 million.
Token Allocation Breakdown
The allocation of the revised 1.35 billion JUP tokens includes:
- 1 billion for AirDrops
- 100 million for market makers and liquidity needs
- 250 million for the launch pool
AirDrops serve as a strategic approach for cryptocurrency projects to distribute free coins or tokens to their community, fostering wider adoption.
AirDrop Recipients and Community Engagement
Nearly 955,000 wallet addresses that have previously engaged with Jupiter are set to receive JUP tokens from the AirDrop. The exact number of wallets claiming their tokens will become evident as the AirDrop process unfolds starting today.
Listing on Major Exchanges
In a significant development, major cryptocurrency exchanges such as Binance and Bithumb have announced the listing of JUP. Others like OKX are expected to follow suit, marking a pivotal moment for Jupiter’s presence in the crypto market.