Jupiter, a decentralized exchange (DEX) operating on the Solana blockchain, surpassed Uniswap's trading volume by $10 million, hitting a peak of $480 million within a 24-hour timeframe. This surge was fueled partly by increased stablecoin trading and notably by the airdrop of a new memecoin called Wen. Developed as an experimental project by Jupiter's team, Wen contributed over $50 million to the overall trading volume.

Participation in the Wen airdrop required users to have engaged with Jupiter in the last six months or possess Solana's Saga phone. However, a significant portion of the recent day's trading volume on Jupiter—approximately $191 million—was from exchanging Solana's SOL for USD Coin and Tether.

Interest in Jupiter's native JUP token has been substantial as well. Currently in the pre-launch phase, the JUP token is scheduled for an airdrop on January 31. With a pre-market price of roughly $0.61, the projected total value of the 1 billion JUP token airdrop could exceed $600 million.

This enthusiasm for airdrops extends beyond Jupiter. Recently, AltLayer, an Ethereum scaling solution, announced a $100 million airdrop to its users. Additionally, Dymension, a multilayer rollup deployer, is preparing to launch its mainnet soon, with an anticipated airdrop of 70 million DYM tokens valued at approximately $210 million based on pre-market prices.