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The cryptocurrency market has been fluctuating lately, which has impacted the coins in several ways. On January 30, 2024, a meme coin based on Solana emerged. Galaxy Fox (GFOX) has also maintained a strong position, surpassing $3 million in ongoing pre-sales. Jupiter (JUP) and GFOX were strong in late January, attracting investors' 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 larger than the combined trading volume of Uniswap V2 and V3.
The increase 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 to those who owned Solana's Saga phone.
Wen has added $50 million to Jupiter's trading volume in the last 24 hours.
This airdrop aims to generate noise around Jupiter's JUP.
Will Solana recover?
Jupiter's daily trading volume has been impressive lately, with WEN and Solana (SOL) contributing significantly.
SOL, in particular, has traded for over $191 million.
This rally reflects Solana's growing popularity as a blockchain platform.
The news about Jupiter's trading volume has also had a positive impact on SOL.
Analysts expect SOL to surpass $150 in the coming months.
GFOX pre-sales milestone
Galaxy Fox has raised over $3 million in the ongoing pre-sale. The platform combines elements of meme coins and play-to-earn (P2E) tokens.
GFOX is deflationary, making it scarce, possibly supporting prices.
Additionally, the platform has a Web3 Endless Runner game where players can earn tokens based on their performance.
The top 20% of players each season will receive GFOX that they can use to purchase nft assets and other in-game boosts.
To support its community, a fraction of every GFOX transaction is contributed to the Galaxy Fox Stargate for community initiatives and development.
Final thoughts
SOL and GFOX are firm. Their respective supporters remain optimistic and expect further growth in the coming months.
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