Traders pumped and dumped another ‘JUP’ during $700M Jupiter airdrop
Some traders may have speculated on the price of the wrong token, while a 17-year-old trader claims to have raked in $1 million in airdrops of the real Jupiter token.
A seven-year-old defunct Ethereum-based protocol may have briefly benefitted from the $700 million airdrop for Solana-based exchange aggregator Jupiter, due to a similar price ticker.
On Jan. 31, hours before the launch of Solana-based Jupiter’s airdrop of “JUP,” an Ethereum-based token with the same ticker spiked more than 430% on Jan. 31, before plummeting just hours later.
According to data from CoinMarketCap, the price of Ethereum-based JUP went from $0.005 on Jan. 30 to $0.026 on Jan. 31 before plummeting back to its current price of $0.007.
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