Jupiter exchange, a dominant force in the Solana ecosystem, recently encountered significant fluctuations. Following the
LIBRA memecoin scandal, Jupiter co-founder hired a law firm to probe the issue. Simultaneously, the platform instigated a token
buyback scheme, using 50% of the platform's fees to repurchase JUP tokens. Meanwhile, a seismic shift occurred as Jupiter acquired a majority stake in
Moonshot and integrated
SonarWatch. This move caused JUP prices to bounce by a remarkable 65%, hinting at a potential breakout. The platform also announced a comprehensive
Token Burn and 50% Fee
Buyback Plan, leading to a price increase of about 40%, with a plan to airdrop $630 million worth of JUP in the Solana network. Jupiter's proactive stance against hacked accounts further consolidates its position in crypto security. Key acquisitions continue;
Moonshot and
SonarWatch are now part of Jupiter, boosting its meme coin trading capabilities on Solana. With this expanded ecosystem, experts have growing confidence in JUP, predicting a bullish reversal, and expecting the coin to potentially reach $2. However, Jupiter has also faced criticism for collaborating with allegedly fraudulent parties amidst the memecoin craze.
Jupiter Coin News Analytics from Tue, 23 Jul 2024 07:00:00 GMT to Wed, 19 Feb 2025 18:56:10 GMT -
Rating 8
- Innovation 7
- Information 6
- Rumor 4
