Solana’s Jupiter JUP rises 20% following platform upgrades and token buyback plans

Source Cryptopolitan

JUP, the native token for Solana-based Jupiter exchange, has seen more than 20% rise in value over the last 24 hours, fueled by recent developments in the protocol. According to CoinMarketCap, JUP went from $0.899 earlier today to a peak of $1.262.

JUP’s recent rally is tied to announcements by the Solana-based decentralized exchange (DEX) at its first-ever community conference, Catstanbul. The DEX, which is one of the biggest protocols on Solana, has unveiled several new features, products, and partnerships at the event in Istanbul.

According to Jupiter,  it is remaking its web and mobile platforms with the addition of new features such as Ultra Mode, Organic Scoring, Jupiter Shield, and RTSE. The exchange said that some of these features are first of their kind and plans to roll them out in the coming weeks.

Most of these new features improve Jupiter’s user experience, which the DEX calls a reinvention of the protocol. For example, the Ultra Mode is expected to make the platform cheaper and better with real-time slippage estimation, optimized transaction landing, and dynamic priority fees. Organic Score also lets

Meanwhile, the DEX plans to upgrade its manual mode to become customizable while launching a new UX for its spot platform. Although most of the upgrades will first be available on the Jup.ag web platform, the DEX plans to implement it in the mobile version later.

Jupiter reveals new products and partnerships

Beyond the platform upgrades, Jupiter has also revealed its full acquisition of on-chain portfolio tracker Sonar Watch. With the acquisition, Jupiter is launching a Solana portfolio tracker integrated into its protocol. This marks its second acquisition in the past few days after buying a majority stake in Moonshot.

Meanwhile, the DEX has also proposed borrowing USDC with JLP deposits as collateral, noting that this could increase the use of USDC to give more yield to JLP holders.

It said:

“This can drive higher utilization rates for USDC, and improve APY for JLP holders. Liquidations will be done by redeeming JLP natively, releasing their collateral against the pool.”

Jupiter founder Meow also announced other upcoming products, including Jupnet, an omnichain network that will aggregate “all of crypto into a single decentralized ledger.” The product, which is still in the early testnet phase, is expected to make all chains and cryptocurrencies accessible from one account.

Jupiter to buy back tokens with 50% of fees

With today’s performance, JUP has been up 12% in the last seven days while gaining more than 40% in the year to date. Despite these gains, the token continues to trade below its all-time high of $2.043, which it reached back in January 2024.

However, the token could see a further rise in value, especially as the team now wants to make JUP the GOAT of tokens. In its effort to drive value to the JUP, Jupiter announced today that it will start spending 50% of all fees on buying back JUP tokens.

The project went further by burning 3 billion JUP tokens, reducing the total supply from 10 billion tokens to 7 billion tokens. Many believe that this is a massive development for the token and could drive substantial price gains in the future.

Cryptopolitan Academy: FREE Web3 Resume Cheat Sheet - a href="https://www.cryptopolitan.com/ultimate-web3-resume-cheatsheet?utm_source=cryptopolitan&utm_medium=banner&utm_campaign=web3cs-1" target="_blank">Download Now

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
What Crypto Whales are Buying For May 2025Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
Author  Beincrypto
Apr 21, Mon
Crypto whales are making bold moves heading into May 2025, and three tokens are standing out: Ethereum (ETH), Artificial Superintelligence Alliance (FET), and Onyxcoin (XCN).
placeholder
Gold price snaps selling off after fresh Trump comments on tariffsGold price (XAU/USD) is turning positive, recovering above the $$3,300 level at the time of writing on Thursday after two days of firm selling pressure since it topped at $3,500 on Tuesday.
Author  FXStreet
Apr 24, Thu
Gold price (XAU/USD) is turning positive, recovering above the $$3,300 level at the time of writing on Thursday after two days of firm selling pressure since it topped at $3,500 on Tuesday.
placeholder
Gold price surges past $3,300 on trade jitters, yield slump reviving haven demandGold price snapped two days of losses on Thursday and rose $50, or more than 1.50%, amid renewed concerns about the US-China trade war.
Author  FXStreet
Yesterday 03: 51
Gold price snapped two days of losses on Thursday and rose $50, or more than 1.50%, amid renewed concerns about the US-China trade war.
placeholder
Gold price consolidates in a range; bulls have the upper hand while above $3,300Gold price (XAU/USD) struggles to capitalize on the previous day's move higher and oscillates in a narrow trading band during the Asian session on Friday amid mixed fundamental cues.
Author  FXStreet
Yesterday 03: 53
Gold price (XAU/USD) struggles to capitalize on the previous day's move higher and oscillates in a narrow trading band during the Asian session on Friday amid mixed fundamental cues.
placeholder
Gold edges down amid clash over status of US-China trade talksGold price is on the back foot on Friday, almost erasing all of Thursday’s gains, and looks set to close off this week in the red.
Author  FXStreet
20 hours ago
Gold price is on the back foot on Friday, almost erasing all of Thursday’s gains, and looks set to close off this week in the red.
goTop
quote