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.
However, the bulk of the volumes on Jupiter over the last day were the trading of Solana into Circle’s USD Coin and Tether, which accounted for $191 million of the total daily volume.
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