The native token of Jupiter, JUP, has experienced a 6% decrease in value to $0.81 in the past 24 hours due to the platform's latest airdrop. During this airdrop, 700 million JUP tokens, valued at $567 million, were distributed to around 2 million eligible wallets. However, users faced difficulties in claiming these tokens, and Jupiter addressed the issue, citing slow claims caused by congestion in Web2 infrastructure providers. The token faced selling pressure as more users claimed the airdrop, leading to a selloff. JUP is currently trading at $0.81 and may continue to face volatility as additional users claim their tokens. This airdrop is part of a larger Jupiter DAO initiative, with plans to airdrop 700 million JUP tokens annually in 2025 and 2026. Despite reaching an all-time high of $2.00 in January 2024, the token has since dropped 59%.



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