In Brief
Over half of eligible wallets have yet to claim their Jupiter (JUP) tokens in the massive Solana (SOL) airdrop this week.
On-chain cryptocurrency analyst Tom Wan reports that there are around 378 million unclaimed JUP tokens.
The majority of claimers received less than 1,000 JUP tokens, and 72% of those recipients have opted to sell their holdings.
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Jupiter Exchange (JUP) airdrop this week, considered one of the largest in Solana’s (SOL) history, is yet to see more than half of eligible wallets have not yet claimed their Jupiter (JUP) tokens.

According to on-chain analyst Tom Wan there are approximately 378 million unclaimed JUP tokens.

Major Solana (SOL) Airdrop: Less Than Half Claim JUP Tokens
In a post on X (formerly Twitter), Wan highlighted that over 440,000 wallets have claimed around 622 million Jupiter tokens since the launch, amounting to approximately $3.6 billion in value.
However, what was interesting was he pointed out that the majority of claimers received less than 1,000 JUP tokens.
Meanwhile, most of the wallets holding less than 1,000 opted to sell, with 72% reportedly doing so.

“72% of the claimers that received <1000 JUP are no longer holding it. The most loyal group of recipients are the wallets that received 50k-100k JUP.”

Yet, crypto analyst Miles Deutscher contends that there is an underestimation of JUP airdrops. This is attributed to the modest allocation in the initial round.

“However, people are underestimating the size of future $JUP airdrops, as only 10% has been allocated during this first round.
”Analyst Anticipates Additional JUP Airdrops in the Future
Deutscher predicts that JUP tokens worth $1.5 billion are yet to be distributed in upcoming airdrops. Additionally, three more airdrops are still on the horizon.

Meanwhile, BeInCrypto recently reported that JUP witnessed an over 70% price clash. This happened barely 24 hours after its JUP token airdrop to early adopters.

Whether the price of JUP will regain the bullish momentum that sent it above the $1 mark shortly after the airdrop remains to be seen.

Read more: How To Buy Solana (SOL) And Everything You Need To Know

On January 31, BeInCrypto reported that influential X user, Rekt Fencer, aims to benefit from several blockchain ecosystems that promise to yield over “100 airdrops worth more than $1 million this year.”

For the Celestia ecosystem, Fencer suggested staking TIA through the Keplr Wallet and on MilkyWay, with a minimum stake of 2 TIA. Fencer states that this leverages Celestia’s network growth.

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Why is This Major Crypto Exchange Shutting Down?

In Brief
OPNX urges users to settle transactions and export history before ceasing operations for an efficient transition.
The exchange specifies a 12-day window for users to withdraw all funds from the platform, in order to secure their funds.
Launched in April 2023 as a response to crypto collapses, OPNX facilitates leveraging claims in defunct crypto firms.
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Why is This Major Crypto Exchange Shutting Down?
The users of major crypto exchange OPNX have been alerted that they must finalize all their positions within the platform within the next 5 days, as the exchange is set to officially cease all operations.

In a letter to its users, the exchange emphasized the importance of exporting their transaction history for personal records before the impending shutdown.

Crypto Exchange OPNX Urges Users to Settle Transactions Immediately

In addition to urging users to settle transactions and export their transaction history, the exchange has specified that users must withdraw all their funds from the platform within the next 12 days.

“We strongly advise all users to withdraw their funds from OPNX.com by February 14, 2024. After this date, withdrawal functionality will be disabled.”

In response to the various crypto collapses in 2022, particularly FTX, the exchange launched in April 2023. It allows victims of past crypto collapses to leverage their claims in now-defunct crypto firms.
OPNX articulates on its website the necessity for a public marketplace, facilitating the onboarding and trading of claims.

“Open Exchange is a solution and home for those harmed by crypto crises, allowing claimants to immediately unleash their locked claims directly into crypto or use them as margin capital.”

However, the founders of the exchange, are also the co-founders of the now-defunct crypto hedge fund Three Arrows Capital (3AC).

OPNX Linked to a Defunct Crypto Hedge Fund

Last month, authorities released Su Zhu from prison, but his co-founder Kyle Davies remains elusive to authorities.

News of Zhu’s arrest prompted a fire sale of approximately $1 million worth of OX tokens, the native token for OPNX.
In recent developments, the High Court of Singapore rejected 3AC’s bid to dismiss a lawsuit filed by DeFiance Capital.

Read more: Top 7 Crypto Exchanges With the Lowest Spreads in 2023

Although DeFiance Capital operated within the 3AC platform, it sought autonomy in managing its assets and operations.

DeFiance Capital contends that its assets should be treated independently in creditor repayment, emphasizing its distinct legal entity.