The Jupiter airdrop resulted in a significant increase in activity on the Solana blockchain. After the airdrop went live, transaction volume nearly doubled, rising from around 1,900 to over 3,000 transactions per second.
This surge indicates that the crypto community is very interested in and engaged with the airdrop.
However, increased transaction activity has resulted in a longer processing time on the Solana blockchain. The time it took to process a transaction tripled, from about 20,000 milliseconds to more than 60,000.
This suggests that the blockchain is under increased demand and pressure due to the influx of transactions.
Jupiter, a key player in the Solana ecosystem, distributed 1 billion JUP tokens to approximately 955,000 wallets that had interacted with the Jupiter platform prior to a set date.
The distribution included 200 million tokens distributed equally, 700 million tokens based on user activity, and an additional 100 million tokens reserved for community members and developers.
As a result of the airdrop’s impact, the JUP token is now trading at $0.697, with a market value of approximately $924 million.
Despite the increased processing time, Solana’s ability to handle the increased transaction load demonstrates its strength and potential for expansion.
Judith Faith has been writing about cryptocurrencies and blockchain technology for over five years. She is well versed in the industry and has an extensive network of industry contacts. She is also a frequent contributor to various cryptocurrency publications. With her vast knowledge and experience, she is able to provide insightful and valuable content to her readers. Judith is also an active investor in the cryptocurrency space and has a vested interest in the success of the industry.
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