Solana bulls upbeat as Jupiter flips Uniswap, GFOX presale hits $3m
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The crypto market has been fluctuating lately, impacting coins in various ways. On Jan. 30, 2024, a Solana-based meme coin surged. Galaxy Fox (GFOX) has also maintained a strong position, surpassing$3 million in ongoing presale. Jupiter (JUP) and GFOX have been firm in late January, attracting investor attention.
The latest on Jupiter DEX
Jupiter, a decentralized exchange on Solana, has reported a trading volume of $480 million in the last 24 hours, which is higher than the combined trading volume of Uniswap V2 and V3.
The surge in trading can be attributed to the recent popularity of its new memecoin, Wen.
Wen was distributed via airdrop to Solana users who had been active on the platform since at least July 2023 and those who owned Solana’s Saga phone.Â
Wen has added $50 million to Jupiter’s trading volume in the last 24 hours.
This airdrop aims to generate buzz around Jupiter’s, JUP.
Solana to rally?
Jupiter’s daily trading volume has been impressive lately, with WEN and Solana (SOL) contributing significantly.
SOL, in particular, has been traded for over $191 million.
This uptick reflects the growing popularity of Solana as a blockchain platform.
The news of Jupiter’s trading volume has also positively impacted SOL.
Analysts expect SOL to break above $150 in the coming months.
GFOX presale milestone
Galaxy Fox has raised over $3 million in the ongoing presale. The platform combines elements of meme coins and play-to-earn (P2E) tokens.
GFOX is deflationary, which makes it scarce, possibly supporting prices.
Additionally, the platform has a Web3 Endless Runner game where players can earn tokens based on their performance.Â
The top 20% of players each season will receive GFOX that they can use to purchase NFT assets and other in-game boosters.
To support its community, a fraction of each GFOX transaction is contributed to the Galaxy Fox Stargate for community development and initiatives.
Final thoughts
SOL and GFOX are firm. Their respective supporters remain bullish, expecting more growth in the months ahead.
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