Jupiter Coin, a decentralized exchange on the Solana blockchain, has been gathering attention in the crypto world. In the past few weeks, various developments concerning Jupiter Coin have signaled a potential bull run. The platform's co-founder has proposed a 30% cut to JUP supply, which sparked a 7% increase in price.
Solana-based Jupiter recently facilitated trading for non-native Solana tokens like DOGE and BNB and has seen a substantial rise in its token JUP. Also, it was reported that Jupiter is preparing for an upgrade to its backend systems to address network congestion, which could have a positive impact on its utility and its token price.
Jupiter is also carving a niche for itself in the Solana ecosystem by launching a native DAO with a significant $137M in initial capital and combating scalability issues that Ethereum and other blockchains face. However, Jupiter Coin has also come under scrutiny recently over collaborating with meme coin projects and targeted scams. The aftermath of this has dented confidence in the coin and its price.
Hints of a bearish action have surfaced as the price of Jupiter (JUP) displayed a potential 10% drop despite considerable enhancements like its launch on the Solana blockchain and its anticipated airdrop. Jupiter's Token (JUP) had also skyrocketed to an all-time high before retracing. Overall, the future price of Jupiter Coin is contentious, with fluctuations and variable developments shaping it.
Jupiter Coin News Analytics from Tue, 02 Jan 2024 08:00:00 GMT to Mon, 26 Aug 2024 16:20:00 GMT -
Rating 2
- Innovation 6
- Information 8
- Rumor -4
