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Information about Jupiter (JUP)
Jupiter is the leading DeFi dApp on Solana, serves as Solana's primary liquidity infrastructure, driving more than 80% of the total retail liquidity movement and seamlessly integrating with the majority of protocols within the Solana network. Jupiter is a decentralized exchange (DEX) aggregator on Solana that facilitates token swaps with low slippage and minimal fees, offering features like swap, limit orders, perpetual trading, and DCA — dollar-cost-averaging.
Not only does it save users transaction costs, Jupiter also provides a friendly and easy-to-use interface. Besides focusing on developing services for users, Jupiter also provides tools for developers, allowing developers to integrate Jupiter technology into their own applications, programs, etc.
JUP is a native coin of the Jupiter ecosystem, operating on Solana according to SPL standard, and can be used to:
Specifications
News
This week, Solana’s value fell by 18%, dropping below 100 USD due to market volatility. In contrast, EOS gained nearly 15%, potentially reaching 0.90 USD, while Jupiter maintained high trading volume even as its price hit lows, reflecting distinct market paths for these coins.
JUP recently tested the 1,133 USD support level, suggesting market consolidation. A move above 1,500 USD could indicate bullish momentum, whereas dropping below 1,000 USD may resume a decline.
Recent market indicators suggest a slight bullish sentiment, with the Long/Short Ratio favoring longs at 54%. This balance implies potential strength, but caution is essential as market dynamics shift.
Jupiter’s founder announced a new token verification system, which may enhance security and community involvement. Technological upgrades can typically result in a 20-30% price increase, although they carry implementation risks.
Jupiter [JUP] has experienced a significant reduction in daily active addresses and transactions, falling from 724,400 to 433,800. This decline shows diminished market participation.
In the last month, JUP recorded a 34.29% drop, with an 11.38% decrease in the last 24 hours, despite a spike in trading volume to 531.9 million USD.
The key support level at 0.718 USD is crucial; failure to hold could lead to a decline of 39% to 0.43 USD, reflecting an ongoing bearish sentiment.
Starting Monday, Jupiter Exchange will allocate half of its protocol fees to buy back JUP tokens, which will be locked for three years. This move aims at reducing the overall supply of tokens, aligning with community discussions on platform improvements.
A dashboard for buyback operations will launch next week to ensure transparency. A previous initiative earlier this January saw a 60% value increase of JUP, reinforcing the effectiveness of this buyback strategy.
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