Solana Network Stands Strong as JUP Token Triggers Surge In Network Activity
Solana blockchain activity spikes after Jupiter airdrop, with transactions doubling and JUP token valued at $924 million.
The Solana blockchain experienced a big increase in activity after the Jupiter airdrop. Shortly after the launch, Transaction volume almost doubled, going from about 1,900 to more than 3,000 transactions per second. This shows a lot of interest in the airdrop from the crypto community.
With more transactions, the time to process them on Solana also increased. Tripling from around 20,000 milliseconds to over 60,000 milliseconds. This shows that the blockchain is under more pressure due to the high number of transactions.
Jupiter, a key player in Solana's ecosystem, distributed 1 billion JUP tokens to about 955,000 wallets that interacted on the Jupiter platform before a certain date. The distribution includes 200 million tokens shared equally and 700 million tokens given based on user activity. Additionally, they distributed 100 million tokens to community members and developers.
The JUP token is now trading at $0.697, making its market value about $924 million. Despite the increased processing time, Solana's ability to handle this load shows its strength and potential for growth. This event highlights Solana's importance in the crypto world and sets a good example for future developments.
