Jupiter’s airdrop is scheduled for January 31, 2024. Expectations are quite high, considering that the DEX has a steady reputation on Solana and other platforms in the DeFi space. The community has been waiting for this for over a month, and with Airdrop finally hitting the market, it also brought with it the new Solana NFT standard.
Memecoin was created utilizing Solana’s new token extension feature. It was also launched via Jupiter’s LFG launcher. WEN was airdropped to over a million wallets, fueling a $1 trillion increase. WEN Token The valuation is over $100 million. The wallets are the Genesis Saga phone holder, NFL collection holder, and Jupiter user wallet.
The launch of WEN benefited Jupiter. The platform was able to test the infrastructure all the way to its core. We also tested bot migration measures and the network as a whole. The launch, defined as a stress test, has achieved its objectives so far and long-term results are expected after January 31 of this year.
WEN serves as a PoC for WNS, a new standard for WEN. PoC stands for Proof of Concept.
WNS is a new lightweight token standard for non-fungible tokens created by LFG on Solana. The community is currently speculating that more NFT standards may be introduced in the future. The first token was implemented utilizing 13 new token extensions. It was deployed on the blockchain last week.
Interestingly, according to CoinMarketCap, the value of WEN has fallen 36.16% in the last 24 hours and is currently trading at $0.00008019 at the time of writing this article. This reflects a 100% drop in value over the last 7 days. Market capitalization and 24-hour trading volume decreased by 35.72% and 51.25%, respectively.
Solana activity is increasing, with active wallets and new token distributions surging on the graph. The only difference is that while token distribution has exceeded the December benchmark, active wallets do not yet reflect that sentiment.
Meanwhile, Euler CEO Michael Bentley has reportedly recovered previously lost governance tokens. The latest recovery amounts to approximately $3.8 million, with losses traced back to earlier this month.
Bentley’s EUL tokens were reportedly lost after he lost the private keys of the wallet where he stored the tokens. The tokens lost are 4.4% of the total supply, or 1.2 million EUL tokens.
The exchange value of EUL is $3.96, up 3.63% in the last 24 hours and 11.05% over the last 7 days. Market capitalization is stagnant. There was a 0.57% drop in 24-hour volume at the time, but this is clearly expressed.