Jupiter, a Solana-based decentralized exchange aggregator, is set to distribute a significant number of JUP tokens through an AirDrop at 18:00 today. The market is anticipating the release of 1 billion JUP tokens for AirDrop, with the altcoin poised to commence trading shortly thereafter.
Revised Circulating Supply and Market Valuation
The anonymous founder of Jupiter, Moew, has disclosed a reduction in the altcoin’s maximum circulating supply from 1.7 billion to 1.35 billion tokens. This revision suggests that, with JUP/USD futures currently trading at $0.65, the altcoin could debut on centralized exchanges with an estimated market value of around $700 million.
The allocation of the revised 1.35 billion JUP tokens includes 1 billion for AirDrops, 100 million for market makers and liquidity needs, and 250 million for the launch pool. AirDrops serve as a strategy for cryptocurrency projects to distribute free coins or tokens to their community to foster wider adoption.
Nearly 955,000 wallet addresses that have previously engaged with Jupiter are set to receive JUP tokens from the AirDrop. The exact number of wallets that will claim their tokens will become evident as the AirDrop process unfolds starting today.
In a significant development, leading cryptocurrency exchanges such as Binance and Bithumb have announced the listing of JUP, with others like OKX expected to follow suit, marking a pivotal moment for Jupiter’s presence in the crypto market.