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.
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.
we saw what happened with mockJUP 🚀 but $WEN will probably become the most hyped launch on Solana
— Gary (@gameofbitcoin) January 26, 2024
70% of $WEN is allocated and distributed to various communities, including Saga Genesis holders 🤑
Check your allocations on https://t.co/sSqAtjCYnU
Claim starts in ~5 hours pic.twitter.com/cAuUiyvbFH
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.
