Noteworthy Surge in Daily Solana Transactions: A Closer Look at Jupiter’s Mega Airdrop
In the past seven days, the daily transaction volume on Solana has experienced a remarkable 335% increase, highlighting a captivating trend in the crypto space. Galaxy Research, a prominent source, attributes this surge to one of the largest-ever decentralized airdrops orchestrated by Solana – the Jupiter Airdrop. According to Galaxy’s findings, a majority of the funds amassed came from Ethereum.
The airdrop allocated one billion tokens, equivalent to 10% of the total supply, to Jupiter users before November 2, 2023. This drop served as a substantial stress test for the Solana network, raising doubts about its capacity to handle such a massive number of transactions.
On Wednesday, Jupiter, the primary decentralized exchange (DEX) on the network, executed the most extensive Solana-based airdrop to date. A total of 40% of the supply will be airdropped to users in three additional phases over the next year (exact timeline to be determined). An extra 10% is allocated to community contributors and grants.
The remaining 50% of the supply will be designated for the Jupiter team members, strategic reserves, and liquidity pools, taking into account various closure and vesting procedures. This distribution model aims to balance community engagement and strategic planning.
Over the past year, Solana has shown significant progress, serving as a positive metric for the network’s advancements. In the short term, planned enhancements in Solana’s schedule, part of the 1.18 release, are expected to mitigate “schedule disruption,” discouraging users from flooding the network with spam during contentious states.
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As of this report, SOL’s price has dropped by 3.04% in the last 24 hours, reaching $99.15. Monthly openings for Alameda-linked SOL tokens are scheduled for February 7th and 11th. These monthly openings represent approximately 2% of Solana’s average trading volume and are planned to continue until September 2027 and January 2028, respectively. A massive opening of 7.5 million SOL is slated for March 1, 2025.
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