Solana-based decentralized exchange (DEX) aggregator Jupiter will release tens of millions of JUP tokens into the market through an AirDrop today at 18:00. The announced data shows that 1 billion JUP tokens will be distributed via AirDrop and the altcoin will be opened for trading.
Initial Maximum Circulating Supply Reduced from 1.7 Billion to 1.35 Billion
Jupiter’s anonymous founder Moew, in a forum post shared on January 30, announced that the altcoin’s initially announced maximum circulating supply of 1.7 billion has been revised downward to 1.35 billion.
Considering the revised initial maximum circulating supply and the JUP/USD futures trading at $0.65 on Aevo at the time of writing this article, it seems that the altcoin will start trading on centralized cryptocurrency exchanges with a market value of approximately $700 million.
Of the 1.35 billion JUP tokens in the initial maximum circulation, 1 billion will be used for AirDrops, 50 million each for market makers in centralized cryptocurrency exchanges for credit and liquidity pool needs, and 250 million for the launch pool. AirDrop is a general term given to the process where cryptocurrency projects distribute new or existing coins/tokens to their communities for free to increase adoption.
955 Thousand Wallet Addresses Await JUP AirDrop
According to data source AirDrop Official, approximately 955,000 wallet addresses that interacted with Jupiter and made any transactions before November 2 are waiting to receive JUP tokens from the AirDrop. It will become clearer how many of these wallet addresses will claim their JUP through the AirDrop during the process starting today. What will happen to the unclaimed tokens remains uncertain for now.
As is known, Binance recently announced that it would list JUP today at 18:00 TRT. Following Binance’s listing announcement, Bithumb also made a listing announcement. Other leading cryptocurrency exchanges like OKX are also expected to list JUP today.
