Posted 1/31/2024, 5:16:00 PM
Jupiter's Massive $700M JUP Airdrop Sets Records on Solana Blockchain
- Jupiter distributed $700M worth of JUP tokens to nearly 1 million Solana wallets in one of the biggest airdrops ever
- The Solana blockchain held up well under the increased activity during the airdrop launch
- The JUP token price climbed from an initial $0.41 to $0.72 soon after launch
- Some RPC nodes struggled to keep up with demands in the first 30-45 minutes leading to issues for some users
- Validators running arbitrage bots earned high priority fees, including one bot tipping $50k to process a $625k JUP trade