Jupiter’s airdrop is across the nook, scheduled to occur on January 31, 2024. Expectations are fairly excessive, contemplating DEX has a gentle repute on Solana and different platforms within the DeFi sphere. The group has been ready for it for greater than a month, and with Airdrop lastly making its method to the market, it has introduced a brand new Solana NFT Commonplace together with it.
The memecoin has been created by leveraging the capabilities of Solana’s new token extensions. Furthermore, it has been launched by way of the LFG launchpad on Jupiter. WEN has been airdropped to greater than 1,000,000 wallets, fueling the rise of 1 trillion WEN tokens to greater than $100 million in valuation. Wallets are these of Genesis Saga telephone holders, NFL assortment holders, and Jupiter customers.
The launch of WEN has turn out to be useful for Jupiter. The platform has been capable of check its infrastructure to its core ends. Additionally examined have been its bot migration measures and the community as an entire. Outlined as a stress check, the launch has served its function thus far, with long-term outcomes awaited post-January 31 this yr.
WEN acts as a PoC for WNS, which is the WEN New Commonplace. PoC is an acronym for Proof of Idea.
WNS is a brand new light-weight token normal for non-fungible tokens that has been created on Solana by LFG. The group is at the moment speculating that extra NFT requirements might be launched sooner or later. The primary one has come to life by using 13 new token extensions. These have been deployed on the blockchain final week.
Curiously, the worth of WEN, in response to CoinMarketCap, is down by 36.16% within the final 24 hours, at the moment buying and selling at $0.00008019 on the time of writing this text. This displays a 100% decline within the worth within the final 7 days. The market cap and 24-hour quantity are down by 35.72% and 51.25%, respectively.
Solana exercise is on the rise, with lively wallets and new token deployments seeing a spike on the graph. The one distinction is that token deployments have surpassed the mark for December, whereas lively wallets are but to reflect that sentiment.
In the meantime, it has been realized that Michael Bentley, the chief government officer of Euler, has recovered governance tokens that had beforehand been misplaced. The latest restoration is value roughly $3.8 million, with the loss being traced again to the beginning of the month.
Bentley’s EUL tokens have been misplaced after he reportedly misplaced his non-public key to the pockets the place he had saved the tokens. Tokens misplaced have been 4.4% of the whole provide, that’s, 1.2 million EUL tokens.
The trade worth of EUL is at $3.96, up by 3.63% within the final 24 hours and 11.05% within the final 7 days. The market cap is stagnant; whereas there’s a slip within the 24-hour quantity of 0.57% on the time, this piece is being articulated.