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- 1 The number of token transfers and the traded value on DEX have seen a 100% growth in the last few days.
- 2 Jupiter exchange has observed a growth of 25.18% in the overall transactions, while the volume has seen a 1% surge.
- 3 When writing, the JUP token price is trading near the value of $0.75, dropping 52.5% in the past year.
Jupiter Station is a cutting-edge platform that offers a range of perpetual and other trading tools for a world-class swap experience. It has been designed to be simple and versatile for users.
It is one of the industry’s most advanced swap aggregation engines.
The platform excels in delivering essential liquidity infrastructure for the Solana ecosystem. Moreover, Jupiter Exchange is actively expanding its DeFi product offerings, featuring a comprehensive suite, including Limit Order, DCA/TWAP, Bridge Comparator, and Perpetuals Trading.
One of the great features of the Jupiter is DCA. Jupiter exchange DCA is a dollar-cost averaging solution. It is designed to enable users to automate the purchase or sale of any tokens at regular intervals over a specified period.
It also has some compelling use cases, such as interacting with low liquidity markets, long-term accumulation, or consistent profit-taking without disrupting the market price too much. Let’s look closer at the on-chain analytics of the Jupiter exchange.
Jupiter Sees an Uptick in Token Transfer Along with the Transactions
The Jupiter token (JUP) has a total supply of 10 Billion tokens, of which 1.35 Billion tokens are circulating in the market. As per the CoinCarp, the top 10 holders of the JUP token currently own over 90% of the total supply. Meanwhile, the top 100 holders have over 94% of the total JUP supply at press time.
Source: TVL By Defillama
Jupiter has a total TVL of $400 Million, with a growth of 125% in the last month. The cumulative volume of the Jupiter aggregator has surged to the high of $189 Billion since its inception. Meanwhile, the daily volume of the exchange is currently around $600 Million. The overall weekly commits of the protocol is 51, while the monthly new developers are 127.
Source: Solscan.io
The number of JUP token transfers has grown by 125% in the past seven days. Meanwhile, the number of trades on the DEX has seen a rise from 62.7k to 157.7k in the past seven days. Let’s have a look at the price action of Jupiter’s native token.
Are JUP Bulls Ready to Rally for a New High?
Jupiter has a market cap of $1.049 Billion and is ranked 69th in the cryptoverse. The volume of the asset price has seen a growth of 5% in the past 24 hours. The VM ratio of the JUP token price suggests a consolidated trend in price.
When writing, the JUP crypto price is trading near $0.77, with a growth of 0.61% in the intraday session. It is currently forming weak bullish candles on the daily chart. It is trading below the 50 and 100 EMAs on the daily chart.
The upside trend of the Jupiter Exchange crypto can see a halt near the value of $1. Meanwhile, the asset price support can be near $0.7.
The RSI of JUP is near 32, suggesting its presence in the neutral zone. The overall sentiment of the indicator is bearish in nature.
Summary
The Jupiter Exchange is currently seeing a surge in the overall token transfers on the dex. The daily transfers on the Jupiters is also observing a new rise. The JUP token price is currently in a consolidated trend, and a new high can be seen in the future.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
