Jupiter, a decentralized exchange (DEX) aggregator in line with the Solana blockchain, reached an all-time high in the selection of weekly merchants final week.

For the week starting Jan. 22, Jupiter seen over 578,000 merchants, essentially the most in a single week, in line with a Dune dashboard created by knowledge scientist Andrew Hong. Of those merchants, most had been minute retail users as roughly 58% of merchants had a weekly shopping and selling quantity of lower than $100 and about 28% had been merchants with lower than $1,000.

“A kind of motion is coming from contributors farming Jupiter the exhaust of the bottom quantity doable for the DCA [dollar cost-averaging] characteristic,” wrote the founder of Web3 incubation agency DreamNFTeam, Austin Warren, to Unchained over X, formerly Twitter.

In decentralized finance (DeFi), liquidity is fractured across utterly different DEXs the place principally the value of a cryptocurrency varies on every platform, but a DEX swapping aggregator, akin to Jupiter, helps crypto merchants uncover the explicit effect by aggregating liquidity from so much of DEXs.

Surpassing Uniswap

The surge in the selection of merchants final week preceded Jupiter snappy turning into the largest shopping and selling platform by 24-hour shopping and selling quantity, surpassing Uniswap early Monday. Jupiter has since fallen to 2nd field with a 24-hour shopping and selling quantity of $594 million, on the again of Uniswap V3’s practically $698 million, knowledge from CoinGecko shows.

On Wednesday, Jupiter could be airdropping tokens to users who transacted on the platform earlier than Nov. 2, 2023. Even though the surge in weekly merchants and shopping and selling quantity on Jupiter came about after the eligibility cutoff date, the upcoming airdrop has contributed to the pleasure surrounding Jupiter.

To address those who weren’t eligible for the impending airdrop, Jupiter’s pseudonymous founder who goes by the screenname “Meow,” wrote on X, “I am sorry that it is probably you’ll maybe per chance now not be included in the upcoming spherical of airdrops. Executing on airdrops will seemingly be quite taxing for us given the intense quantity of effort we build into it to originate it as sharp, fun and inclusive as doable.”

“We as a team will fabricate our supreme starting every Nov. 2 and ending in every Jupuary thirty first to make certain that you just is inclined to be feeling appreciated, considered and acknowledged,” added Meow, implying the functionality of future airdrops. “Jupuary” is a marketing term created by the DEX shopping and selling aggregator that combines “Jupiter” and “January.”.

Jupiter’s story on X shared the same message with ineligible users, announcing “We like you and we’re sorry it is probably you’ll maybe per chance now not be in the upcoming airdrop. Nevertheless we are in a position to fabricate this every Jupuary for a in actuality long time to approach again.”