Jupiter Prepares for Second $560M Airdrop as Solana-Based DeFi Protocols Gain Traction

As part of an event deemed “Jupuary” – a mix between the words Jupiter and January – this Solana-based decentralized exchange (DEX) has announced its second airdrop, consisting of 700 million JUP tokens to be distributed in the next couple of weeks.

The airdrop, valued at around $560 million based on today’s price, is the second tranche of the project’s planned rewards program, which aims to strengthen its user base and incentivize developers to launch new assets that rely on Jupiter’s platform to increase their liquidity.

You can visit this website to check if your wallet is eligible to receive a portion of this airdrop.

Meanwhile, investors have been drawn to the exchange as it works as an aggregator. This means that they can get quotes for different trading pairs from multiple decentralized exchanges (DEX) like Raydium and get the best available price for the asset they are operating with.

The airdrop proposal was passed by 87% of all voting JUP holders and will be distributed as follows:

• 400 JUP tokens will go to users who have engaged and operated with the DEX.
• 60 million JUP will be used to reward stakers.
• 200 million JUP tokens will be used for marketing purposes primarily. For example, via rewards programs for new users and other similar efforts.

Technical Chart Shows Falling Wedge – Can Jupiter Recover Some Ground in 2025?

Jupiter (JUP) has been on a clear downtrend since December when the token surged to the $1.4 area for the first time in roughly 8 months. This move was primarily catalyzed by the market’s positive reaction to Donald Trump’s victory in the U.S. presidential election.

However, once JUP hit that peak, it started to fall sharply. This dramatic drop has resulted in the formation of a potentially bullish pattern called a falling wedge.

The chart shows that JUP has found strong support in the $0.65 – $0.70 area. This has created a solid floor that has already served as a stopping point for multiple declines in the past months.

Now, the falling wedge could soon be resolved. If the $0.65 support area holds, a short-term uptick for JUP would be customary.

Meanwhile, if the wedge experiences a bullish breakout that pushes the token above the $0.85 mark, this could be interpreted as a buy signal as it would also result in a break of the 20-day simple moving average (SMA).

The positive momentum that the airdrop could be creating may be the necessary catalyst for such a move.

Jupiter is the Largest Solana-Based DeFi Protocol by TVL

This second token distribution event comes on the hills of the successful airdrop that the Jupiter team conducted in January this year when 1 billion tokens were allocated to early adopters of the protocol.

Meanwhile, a third airdrop is still on the horizon and, according to the developing team’s roadmap, it could take place somewhere in 2026.

Jupiter has been partially responsible for the expansion of the Solana decentralized finance (DeFi) ecosystem. This DEX is already the third largest protocol with a total value locked (TVL) of $2.58 billion, already surpassing its well-established peer Raydium.

According to data from DeFiLlama, Jupiter’s TVL exploded in 2024, moving from approximately $90 million in February to $2.4 billion by year-end. Aside from operating as an aggregator, which is its core functionality, Jupiter also offers a Launchpad through which token promoters can create liquidity pools.

Token holders are rewarded for adding their assets to these pools and borrowers pay interest for using these tokens. All of these operations are executed by smart contracts powered by the Solana mainnet.

The success of DeFi protocols like Jupiter and Raydium showcase how rapidly developers and investors have been embracing Solana-based solutions as the network’s popularity continues to rise amid the meme coin hype, its highly efficient infrastructure, and other similar tailwinds.