Solana

Million

Jito

Pyth Network

<p>The post <a href="https://coinpedia.org/news/solana-price-surge-as-jitos-225-million-airdrop-stirs-excitement-in-crypto-community/">JTO Airdrop Mania: Solana Sees 75% Price Surge as $225 Million Goes Up for Grabs</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Get ready for a crypto adventure! Jito, the crypto staking project, just dropped its <a href="https://www.jito.network/">JTO token</a> on Thursday at 11 am ET, making waves in the Solana ecosystem. Brace yourself for a journey through a whopping $225 million airdrop, a 75% surge, and unexpected cyber twists.</p> 
<h2 class="wp-block-heading" id="h-jito-s-welcome-airdrop">Jito’s Welcome Airdrop</h2> 
<p>Hot on the heels of a big week for <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin</a>, Jito’s new governance token, <a href="https://coinpedia.org/news/solana-sol-soars-as-becomes-2023s-most-traded-altcoin-on-us-exchanges/">JTO</a>, grabbed traders’ attention with an impressive 75% surge during its Thursday launch.</p> 
<p>At the airdrop’s initiation, JTO debuted at $6.01, placing the 90 million tokens, set to be airdropped, at a substantial $540.9 million valuation. Around 30% of the airdrop had been claimed, and the top 14 addresses hadn’t sold any tokens.</p> 
<p>Notably, eligible recipients have an extended 18-month window to collect their assets, a departure from the typical 30 to 90 days for airdropped tokens. However, the token price experienced a 58% drop to <a href="https://coinmarketcap.com/currencies/jito/">$2.70</a>, with JTO’s market capitalization now standing at around $211 million.</p> 
<h2 class="wp-block-heading" id="h-solana-price-surge">Solana Price Surge</h2> 
<p>In addition to its release, the <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/">Solana</a> ecosystem is experiencing a rapid rebound in terms of popularity and price. Solana’s native coin has witnessed a staggering 542% surge, currently trading at $71.89. Notably, the majority of this remarkable increase has transpired since the mid-October timeframe.&nbsp;</p> 
<p>The renewed interest in Solana is not only evident in the successful release but is also reflected in the substantial uptick in its coin’s value, underlining a bullish sentiment within the broader crypto community.</p> 
<p>Further, Jito Labs CTO Zano Shermani noted on X that the current breed of projects has learned from past mistakes, avoiding ‘bad tokenomics’ that plagued previous bull markets in 2021.</p> 
<p>Read More: <a href="https://coinpedia.org/price-analysis/solana-sol-price-to-hit-new-ath-of-360-this-bull-run-predicts-top-analyst/">Solana Price Set to Soar: Crypto Expert Predicts $360 by 2025</a></p> 
<h2 class="wp-block-heading" id="h-jito-labs-faces-ddos-attack">Jito Labs Faces DDoS Attack</h2> 
<p>Adding an unexpected twist, Jito’s website encountered a Distributed Denial-of-Service (DDoS) attack, disrupting regular operations.&nbsp;</p> 
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   <p lang="en" dir="ltr">can you guys not? <a href="https://t.co/hMXVGl9erE">pic.twitter.com/hMXVGl9erE</a></p>— buffalu (@buffalu__) <a href="https://twitter.com/buffalu__/status/1732860804435792276?ref_src=twsrc%5Etfw">December 7, 2023</a>
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<p>Meanwhile, the motive behind the attack remains unclear. Recently, several crypto projects have reported similar attacks, often orchestrated by scammers seeking ransom to restore normal functionality.</p> 
<h2 class="wp-block-heading" id="h-upcoming-airdrop">Upcoming Airdrop</h2> 
<p>Jito’s airdrop follows last month’s Pyth Network (PYTH) airdrop, distributing 250 million tokens initially valued at $77 million, now worth $107 million.&nbsp;</p> 
<p>Looking ahead, Solana may witness another airdrop from the DeFi platform Jupiter, set to distribute JUP tokens to nearly a million eligible users. However, the date for the Jupiter airdrop is yet to be announced.</p> 
<p>As the Solana ecosystem experiences these significant developments, users eagerly await the impact and future opportunities these airdrops may bring.</p>

JTO Airdrop Mania: Solana Sees 75% Price Surge as $225 Million Goes Up for Grabs

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