According to Gate.io market data, JUP touched $1.27 within the day, with a 24-hour highest increase of 38%. JUP has now fallen with the market, currently priced at $0.95, with a market capitalization of $1.6 billion, ranking 65th in the market. Earlier, Jupiter announced the launch of the full-chain network Jupnet, as well as the launch of the new platform website jup.com, and the acquisition of a majority stake in Moonshot; In addition, the co-founder of Jupiter also announced that 50% of the platform’s revenue will be used to repurchase JUP and destroy 30% of the unlocked JUP tokens. All these excellent news has stimulated the upward trend of JUP against the market.
In 2022, the FTX bankruptcy event Solana Suffering heavy losses, the Solana ecosystem has lost a large amount of funds and projects, with SOL falling from its all-time high to below $10. However, in 2023, Solana made a strong comeback, outperforming many mainstream public chain assets. In particular, the DeFi project Jupiter has shown outstanding performance, with a trading volume in December 2023 more than ten times higher than in January, and the launch of the ‘largest-scale airdrop in history’ of the JUP token.
At the end of January 2024, the JUP token airdrop officially starts, and the market attention is unprecedentedly hot. The number of daily active addresses on Solana exceeds one million for the first time. The reason why JUP has received such high attention is fundamentally because Jupiter can leverage Solana’s high speed and low cost advantages, as well as its potential to continuously innovate in the future of DeFi.
Reasons and characteristics: The current market shows some influx of funds, and the bulls have the upper hand, indicating that the market sentiment is optimistic. Choose to enter at 0.95 USDT and take advantage of the short-term rebound opportunity. The stop loss is set at 0.90 USDT to control risks, and the target is set at 1.20 USDT, in line with the expected resistance level.
Reasons and features: RSI indicator shows overbought, and a pullback may occur in the short term. Enter at 1.10 USDT and take advantage of the possible pullback in the market. Set the stop loss at 1.25 USDT to prevent unexpected rise, and set the target at 0.85 USDT, in line with the expected support level.
By integrating core infrastructure such as wallets, data analysis, trading, and yield optimization, Jupiter has built a closed-loop ecosystem that covers the entire process of DeFi, greatly enhancing the user experience. At the same time, the development of the full-chain network Jupnet and the layout of the fiat currency gateway demonstrate its forward-looking approach to cross-chain DeFi development and its deep investment in industry infrastructure.
Jupiter’s outstanding performance on Solana makes it a model for DeFi innovation. With its low-cost, high-performance architecture, Jupiter not only drives long-term adoption of Solana, but also provides reference for the future development of the DeFi market. With the increasing attention of mainstream finance to asset tokenization, Jupiter’s innovative capabilities are expected to take a leading position in the new generation of DeFi market, further consolidating its ecological position and enhancing the value of the JUP token.