- The market cap of JUP, the native token for Jupiter, crossed $1 billion.
- Other protocols such as Jito also saw growth.
Solana’s (SOL) user base has expanded significantly over the past few months, leading to growth for not only SOL but also related protocols like Jupiter (JUP) and Jito. In fact, JUP became one of the top new tokens in 2024 with a market value exceeding $1 billion. Within the last day alone, its price increased by 6.04%, trading at $1.04 at press time.
Over the past several months, there has been a significant increase in users flocking to Solana’s [SOL] ecosystem. This influx hasn’t only brought gains for SOL, but also for other components within the network.
As a crypto investor, I’ve noticed an impressive surge in the usage and popularity of decentralized exchanges (DEXs), with platforms like Jupiter leading the charge. This growth has piqued my own interest in the JUP token, which is closely tied to the success and utility of the Jupiter DEX.
From Jupiter to the Moon
As a crypto investor, I’m excited to share that JUP was among the top four newly minted tokens in 2024, boasting a market value surpassing the billion-dollar mark. In the past 24 hours alone, the price of this token has experienced a significant growth of 6.04%. At the moment, I see it trading at an impressive price point of $1.04.
The trading session performed exceptionally well with a notable increase in total dealings and heightened business volume during the last month.
A flourishing ecosystem
As a crypto investor, I’ve noticed that Jupiter Exchange wasn’t the sole Solana protocol experiencing growth. Another protocol named Jito has also seen a surge in attention. Jito functions as a platform specifically designed to help users stake their SOL tokens.
Currently, the value of JTO, the native token for the Jito protocol, is being exchanged for $3.18 per token. Over the past month, there has been a significant increase in its price, amounting to a 5.97% rise.
As a researcher observing the market trends, I’ve noticed a significant increase in the prices of these two tokens. However, the social media buzz surrounding them has been displaying negative undertones over the past few weeks.
Based on the findings from AMBCrypto’s analysis, the social activity and overall sentiment towards JTO and JUP have noticeably decreased.
These tokens showed signs of advancement generally, but encountered a setback in their quest for widespread acceptance on social media.
It may take some time for these protocols to regain interest of the crypto sector in the future.
Although the usage of these protocols and tokens is declining, the advancements made in Solana’s network serve as evidence that it is thriving, with its ecosystem expanding concurrently.
Read Solana’s [SOL] Price Prediction 2024-25
As a crypto investor, I’m observing that Solana (SOL) is currently priced at $142.72 at the current market press. Over the last 24 hours, there’s been a significant growth of 4.67% in SOL’s price. Additionally, the trading volume for SOL has experienced an uptick by approximately 12.06% within this timeframe.
It remains to be seen whether SOL manages to maintain this rally in the long run.
Read More
- Top gainers and losers
- DOP PREDICTION. DOP cryptocurrency
- LDO PREDICTION. LDO cryptocurrency
- JASMY PREDICTION. JASMY cryptocurrency
- STOG PREDICTION. STOG cryptocurrency
- KAI PREDICTION. KAI cryptocurrency
- MOCHI PREDICTION. MOCHI cryptocurrency
- SILLY PREDICTION. SILLY cryptocurrency
- ETH PREDICTION. ETH cryptocurrency
- DERO PREDICTION. DERO cryptocurrency
2024-04-29 03:03