Solana DEX Jupiter flips Uniswap amid stablecoin, Wen airdrop frenzy

Jupiter Exchange volumes topped $480 million in the last 24 hours, with much of the volume being led by traders swapping stablecoins and flipping a new memecoin Wen

Trading volumes on the Solana-based decentralized exchange Jupiter have topped the charts at $480 million in the last 24 hours — amid a frenzy for a new memecoin airdrop and heightened stablecoin swaps.

The trading activity has even seen Jupiter beat out the Ethereum-based volumes on Uniswap from both V2 and V3 protocols by $10 million, with the combined trading volume of those protocols only amounting to $470 million in the last 24 hours, per CoinGecko data. 

A little over $50 million worth of Jupiter’s total daily trading volume came from traders buying and selling “Wen,” a memecoin that could be claimed by any Solana user who’d interacted with Jupiter in the last six months, as well as owners of Solana’s Saga phone.

Read more