- Binance has announced the listing of Jupiter’s JUP token on its platform.
- Jupiter, a Solana-based DEX, holds the second position with a trading volume of $630 million.
Binance, one of the world’s prominent cryptocurrency exchanges, has announced the listing of JUP tokens on its platform. Trading is scheduled to commence today at 15:30 UTC, marking a pivotal moment for both the token and its community. In addition, the listing fee for JUP is set at 0 BNB.
#Binance will list @JupiterExchange $JUP with Seed Tag applied.
— Binance (@binance) January 31, 2024
👉 https://t.co/lLWFWZix3C pic.twitter.com/fq8aB9g0Nw
The crypto giant listing follows hot on the heels of Jupiter, a decentralized trading aggregator built on Solana, introducing its native token, JUP, through an airdrop today at 15 UTC. Since the announcement, the token has gained huge attention within the cryptocurrency market due to its innovative approach and potential applications.
According to CoinGecko, Jupiter now holds the second position in trading volume, indicating impressive growth in decentralized exchanges. Over the last 24 hours, Uniswap V3 (Ethereum) leads with approximately $783 million, while Jupiter closely follows with $630 million in trading volume.
JUP Holds Huge Airdrop
Binance’s decision to add JUP to its platform is poised to significantly enhance the token’s visibility and accessibility among a diverse range of investors and traders.
Notably, Binance’s listing JUP with the Seed Tag, underscores its recognition of the token as part of an innovative project, albeit one that may exhibit heightened volatility and risks—a characteristic often associated with emerging ventures in the crypto space.
According to Jupiter’s pseudonymous founder, Moew, the token will initially have a maximum circulating supply of 1.35 billion, a downward revision from the previously envisaged figure of 1.7 billion.
Out of this initial supply, the project reserves 1 billion coins for airdrops. Additionally, 50 million each is allocated for loans to market makers on centralized exchanges and liquidity pool requirements, with 250 million designated for a launch pool.
