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Decentralized exchange Jupiter takes the lead among DEXs in terms of trading volume

DeFi: Decentralized exchange Jupiter takes the lead among DEXs in terms of trading volume

According to CoinGecko, trading volume on the Jupiter platform on the Solana network has reached an impressive $515.67 million. This figure surpasses the trading volume of other decentralized exchanges (DEX), including Uniswap V3.

Jupiter Station reports that the majority of transactions on the platform involve #stablecoins exchanges and WEN Token (#WEN) memcoin trading.

Decentralized exchange Jupiter takes the lead among DEXs in terms of trading volume
Top DEX in terms of daily trading volume. Source: CoinGecko.

One possible reason for the hype surrounding this activity is the token giveaway to DEX users and owners of the #smartphone Solana Saga.

The token giveaway started on January 26, 2024.

In addition, the Jupiter token airdrop (#JUP) is expected on January 31, for which 10% of the total supply will be allocated.

Currently, the price of WEN is $0.00015. According to CoinMarketCap, it has increased significantly by 30.6% in 24 hours, namely from January 28 to January 29, 2024.

At the end of 2023, the memcoin sector in the #Solana ecosystem saw a surge in trading activity. One of the possible catalysts for this surge was the distribution of Bonk tokens (#BONK) to Solana Saga owners.

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