Jupiter Coin (JUP) has experienced a rocky journey in the cryptocurrency market. With its price poised to surpass the $1.5 mark, the token recently witnessed a valuation loss, causing PEPE investors to suffer a $2.33M loss. However, the market remains optimistic about the JUP price, with predictions suggesting it could reach $1.97 by April 2024 or even $5 in the long run. A significant event for Jupiter was a proposed 30% JUP token burn which could potentially raise coin value. The
BlockDAG breakthrough is also expected to pave a bright future for Jupiter and Avalanche.
During fair and bearish market conditions, Jupiter Coin sees choppy trading action. To stimulate growth, Jupiter launched an initiative for users to vote on a token supply reduction proposal. However, despite soaring by nearly 100%, Jupiter’s perpetual crypto trading faltered when Bitcoin hit record levels. Jupiter faces criticisms over meme coin collaborations, and the exchange's ASR rewards system is still in its infancy.
In other news, Jupiter will release a mobile app for zero-fee trading in the coming months. The Solana DEX kick-started its native DAO with $137M in initial capital, and the JUP coin is set to debut with a circulating supply of 1.35B. As the coin targets a price of $2, trading volumes are in decline. Jupiter also faces competition from other cryptocurrencies like Raboo, Worldcoin, Beam and Toncoin, which are capturing investors' interests.
Jupiter Coin News Analytics from Wed, 03 Jan 2024 08:49:37 GMT to Sat, 03 Aug 2024 21:00:00 GMT -
Rating 3
- Innovation 8
- Information 7
- Rumor -5
