Solana network’s weekly volume of new wallet registrations updates the all-time high

The record was recorded amid the hype around the airdrop of the meme token WEN

29.01.2024 - 11:30

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What’s new? The 7-day moving average (7DMA) of new addresses in the Solana blockchain reached a record level in the entire history of the project at 457 830. The growth of the indicator was recorded against the backdrop of the WEN meme token airdrop, conducted by the team of Jupiter, a leading decentralized exchange (DEX) aggregator in the Solana ecosystem.

The Block’s data

What else is known? WEN was the Jupiter development team’s joking response to numerous questions from subscribers about when the airdrop of the project’s native tokens would take place, its ticker is a mangled variant of the “when” common among crypto users on social media.

Jupiter’s founder under the nickname @weremeow writes in X that WEN is a “mass social experiment focused on fun, culture, degeneracy anchored by a pursuit of technical, operational, communications excellence.”

Source: Twitter.com

Developers issued 1 trillion WEN tokens and allocated 700 billion of them to airdrop. More than 1 million Solana ecosystem users were eligible to participate in the airdrop, including NFT collectors, owners of Solana Labs’ Web 3.0 smartphone Saga, and Jupiter traders. There are 643 652 WEN allocated to each eligible wallet. Tokens unclaimed by January 29 will be destroyed.

WEN was launched on January 26 and at the time of writing is trading at $0,0001581, having gained 27% overnight.

WEN will also allow the Jupiter team to test the token distribution mechanism ahead of the planned January 31 launch of the native token JUP. The first JUP airdrop will be open to 955 000 users whose swap volume has surpassed the $1000 mark by the time of the network state snapshot in November 2023.

Stablecoin transaction volume on the Solana network grew 28 times in a year

By January 1, the figure was $322,3 billion

The increased user activity led to Jupiter surpassing Uniswap’s DEX Uniswap on the Ethereum network by $24,7 million in daily trading volume. Thus, Uniswap’s third-version protocol figure was $492,5 million, while Jupiter’s figure was $517,2, according to data from aggregator CoinGecko.

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