New Solana-based Coin WEN Airdropped to 1 Million Wallets
WEN, the new meme coin of the Solana ecosystem, has generated significant community interest and more achievements. Is there a chance to claim WEN tokens?
As part of Jupiter's large-scale testing, the platform held a Solana-based meme coin. The WEN airdrop started last weekend and ended on January 29. The decentralized exchange will continue the token airdrop series this week with the launch of the native token JUP.
Airdrop WEN has reached a wide range of users, from Jupiter exchange customers to some NFT owners and even Solana Saga owners. The developers allocated 700 billion coins to the community. Each eligible wallet could receive 643,652 WEN tokens.
- Eligible for airdrop were 1 million Solana wallet owners who:
- Traded on Jupiter DEX with a volume of at least $5 before January 19;
- Executed DCA/LO/Perps orders
- Have Ovols NFT, Bluechip NFT or Genesis Saga in their wallet.
As a result, the distribution triggered resonance and new gains across the entire Solana ecosystem. WEN's market capitalization has approached the $157 million mark. In the last 24 hours, the coin has grown by 41%. The daily growth of the coin is also due to rumors of a possible burning of 175 billion distributed WEN. The developers have promised to burn all unclaimed tokens until January 29.
The WEN airdrop is a test field of the launchpad feature on the Jupiter platform, which will hold a JUP token airdrop this Wednesday. Therefore, many people have a chance to get free tokens from the Jupiter ecosystem. 955,000 wallets will be eligible to participate in the first token airdrop.
WEN: 31st of Jupuary 10am EST
— meow 🥧 (@weremeow) January 15, 2024
On the 1st of Jupuary, we outlined the main areas of work as we aim to get to launch. https://t.co/PORf6v5apt
We have been right on schedule executing on all these, and we are happy to share that JUP will launch on 31st of Jupuary, 10am EST.… pic.twitter.com/fIhDg0H1Pu
The heightened excitement around the new meme coin saw one insightful trader's portfolio grow from $125,000 to $1.6 million in just 14 hours. And on the first day of airdrop, Jupiter's daily trading volume surpassed the $520 million mark, helping the platform overtake Uniswap V3 in terms of that metric. Jupiter's recent gains have also been influenced by the low cost of fees on the Solana network.
🚨JUST IN: @JupiterExchange flipped Uniswap in DEX volume to claim No.1 spot across chains. pic.twitter.com/AG1rbBrFMy
— SolanaFloor | Powered by Step Finance (@SolanaFloor) January 27, 2024
Meanwhile, the Solana network has overtaken the Bitcoin network in terms of daily active users. On January 26, Solana recorded more than one million users, while Bitcoin saw only about 600,000. Such performance at Solana is attributed to the increased demand for decentralized platforms on the network.
Achievements in the Solana ecosystem have driven SOL to growth. The asset has gained 11% over the past seven days and was worth $97.74 at the time of writing.
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The $100 resistance level poses a problem, as the asset has been unable to overcome it for a long time. Moreover, it is still unclear when it will happen and if it will happen at all. And yet, some experts are confident in a positive outcome, supporting their forecasts with bullish sentiment in Solana network.
#Solana appears to be breaking out from a descending parallel channel. If $SOL can hold above $94, it has a great chance of advancing toward $113! pic.twitter.com/cNdS6GeXXK
— Ali (@ali_charts) January 28, 2024
This is not a 100 percent statement. The cryptocurrency market is very volatile and unpredictable. Remember the importance of DYOR.
