The Jupiter exchange network based on Solana saw his native token increase in more than 25% when traders responded to various important announcements.
During the writing, Jupiter (Jup) had an intraday height of $ 1.25 after the break -off of $ 0.9449 earlier in the day. Today’s rally positioned Jup as the best profit, with a market capitalization of more than $ 2.03 billion.
Native token of the Exchange has formed back-to-back green candles in the midst of a trade environment with a high volume, since large ecosystem updates were announced during the very first event, Catstanbul 2025.
Why is Jup going up?
During the event that was held during the weekend, Jupiter burned 3 billion Jup tokens with a value of around $ 3.6 billion at current prices. The burnt tokens accounts for 30% of the total offer.
In addition, Meow, the pseudonym of the Exchange, announced Plans to allocate 50% of the reimbursements on the platform would be used to buy back Jup tokens and lock it in a long-term reserve.
These mechanisms reduce the total delivery of tokens in circulation, causing a scarcity that can solve the value of the token as the demand increases.
Other announcements That aroused investor’s interests were details about expansion plans for his Omnichain network Jupnet, which collects liquidity over several block chains into a single decentralized ledger. Jup is expected to play a key role within Jupnet, which improves the use of it.
The recent meeting of Jup is also supported by the growing fame in the Defi sector. The Total volume locked Within the protocol, last week has increased steadily and since January 14 to $ 2.87 billion on the press has risen more than 21%.
In the meantime, the Defi trading volume has risen from more than $ 415 million on January 24 to $ 1.48 billion on Monday, which reflects an increase in investor interest.
The Altcoin has also become the most purchased sign in the last 24 hours due to smart money. (See below)
The demand from derived traders has also grown in recent days, according to data from Coinglass, with an open interest in the Futures market of Jup that reached its record high of $ 363.92 million yesterday.
Jup -Price analysis
On the daily graph, the price of Jup above the progressive averages of 50 and 200 days remained, with the shorter MA ready to cross the longer one, which could lead to the formation of a Golden Cross. If this crossover is confirmed, this can indicate a continuation of the upward trend, whereby bulls get control of the market.
The MACD and Price Oscillator lines were also aimed at upstairs while writing. This means that the purchasing pressure on the Altcoin increases, which may feed the current rally.
Based on these indicators, Jup could continue his rally to re -test $ 1.41, the highest point of December last year. A break above this level could pave the way for a movement in the direction of all time of $ 2, which represents an increase of 40% compared to its current price level.
At the time of the press, Jup exchanged hands at $ 1.18 per coin.
