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Jupiter jumps 15% ahead of 200mln airdrop – But THIS could stall JUP’s rally
['Vivaan Acharya', 'Adewale Olarinde', 'Olayiwola Dolapo', 'Ritika Gupta', 'Benjamin Njiri', 'Vivaan Acharya Is A Crypto-Economist', 'Journalist At Ambcrypto Who Brings A Rare Depth Of Financial', 'Economic Expertise To The World Of Digital Assets. He Holds A Master S In Economics The Prestigious University Of Delhi', 'Has Over Five Years Of Experience Analyzing Technology', 'Financial Markets.']
AMBCrypto
Jupiter’s native token, JUP, drew heightened attention on the 28th of January as its airdrop approached.
Jupiter [JUP] confirmed plans to distribute 200 million JUP tokens on the 30th of January.
Of that total, 175 million tokens targeted fee-paying active users, while 25 million were allocated to stakers.
At these levels, traders had built approximately $2.22 million worth of long-leveraged positions and $1.13 million worth of short-leveraged positions.
This positioning suggests that intraday and short-term market sentiment remains bullish.