Jupiter Exchange beats Uniswap in transaction volume, here's why Jupiter Exchange, one of the largest decentralised exchanges or DEXs in the Solana Blockchain ecosystem, has just beaten the daily transaction volume of the largest DEX on the Ethereum Blockchain, Uniswap.

The drastic increase in Jupiter Exchange's transaction volume occurred due to two things that seem to still persist as Jupiter Exchange's position is still above Uniswap according to data from Coingecko.

Jupiter Exchange beats Uniswap

Jupiter Exchange's transaction volume in the last 24 Hours was seen reaching above $500 Million which is an achievement as this transaction volume managed to beat the transactions of Uniswap.


According to data from Coingecko, this daily transaction volume makes Jupiter Exchange successfully beat Uniswap which is generally ranked first in terms of daily transaction volume for DEXs with regular swap features.

When compared to DEXs that have other features such as dYdX that have derivative transactions, Jupiter Exchange's current volume is still below it, but this comparison is unfair because a more equal comparison is with Uniswap.

Uniswap is the main DEX used by investors in the Ethereum Blockchain ecosystem and its supporting networks, so Jupiter Exchange's increase in transaction volume is impressive.

If you look at the number of visitors, currently Uniswap still has 10.5 million visitors per day while Jupiter Exchange is still at 6.6 million per day.

Although it still lags in the number of users, Jupiter Exchange's transaction volume is still much higher as currently 18.1% of transactions from the entire crypto market are on Jupiter Exchange, while 15.5% are on Uniswap.

According to Coingecko, currently the largest transaction on Jupiter Exchange is the USDC transaction which is likely the result of the transactions of users who received airdrops in the form of WEN Tokens.

Source : https://x.com/JupiterExchange/status/1751400456906223834?s=20

Jupiter Exchange recently conducted a WEN Token airdrop reward for users who have interacted with Jupiter Exchange for transactions in the last six months.

The value of the airdrop given to users is also not small because at the time of writing this article, the average allocation that each user gets is around $100 or 600,000 WEN.

Looking at this nominal amount and the current price appreciation of WEN, it seems that the increase in transaction volume occurred because the majority of users made sales and purchases of WEN Tokens through USDC.

In addition, the WEN collection deadline for users who received the airdrop still runs until 23:00 WITA today, so it seems that many will still use Jupiter Exchange for this token transaction.

JUP Token Launch

In addition, the current sentiment that makes many users make transactions constantly is the launch of the JUP Token which will be implemented on 31 January 2024.

Source : https://x.com/JupiterExchange/status/1751693143622439345?s=20

Currently, many users are waiting for the launch of this token in the hope of getting a free airdrop in the form of JUP.

Looking at the airdrop history of Jupiter Exchange, many users speculate by increasing their transaction volume on the platform in order to get more allocations so they can get more JUP for free. But regarding this airdrop, there has been no confirmation from Jupiter Exchange so everything is still in the form of speculation.

For now, the transaction volume on Jupiter Exchange is still increasing because of this, and it is likely that it will continue to increase until 31 January 2024.

After the launch of JUP, the Jupiter Exchange's first place position may start to be questioned as transactions may fade as there is no new incentive to catch up with the volume of transactions on the Jupiter Exchange.

Even if only for a moment, the current situation can prove that Blockchain ecosystems other than Ethereum and Bitcoin can attract a lot of attention with the right marketing steps.So when looking at a project to decide whether it is worth using or deciding to buy tokens from the project or not, it is good that in addition to the technology side, investors look at the marketing techniques carried out.

Seeing the position of Uniswap, which has survived significantly and was successfully brought down by Jupiter Exchange even if only for a moment, this condition shows that Jupiter Exchange and the Solana ecosystem have good marketing techniques.

*Disclaimer
This article does not constitute advice or solicitation to use Jupiter Exchange or purchase the tokens discussed in this article. RepublikRupiah is not responsible for any profit or loss from the information obtained in this article. The risk is borne by each.