Jupiter’s native token, JUP, has emerged as the top market gainer, climbing 6% in the past 24 hours. This performance defies the broader crypto market downturn.
Major Plans Propel JUP’s Value
Jupiter, a Solana-based decentralized exchange, recently concluded its first-ever “Catstanbul 2025” event. During the event, the platform’s pseudonymous founder, “Meow,” revealed two major initiatives aimed at enhancing JUP’s value and utility.
$3.6 Billion Token Burn
The platform plans to burn 3 billion JUP tokens, currently worth $3.6 billion. Meow explained that this move is designed to reduce emissions, increase certainty, and lower the token’s fully diluted valuation (FDV).
Buyback Program Announced
Additionally, Jupiter will allocate 50% of its protocol fee revenue to repurchasing JUP tokens. These purchased tokens will be held in a “long-term litterbox,” emphasizing the platform’s commitment to stabilizing the token’s value. The other half of the protocol fees will fund growth initiatives and operational stability.
Market Reaction to Jupiter’s Announcement
JUP reacted strongly to the announcement, hitting a 30-day high of $1.28 on Sunday. Buying activity has continued, with the token’s open interest rising to $364 million—a 25% increase over the past 24 hours. This indicates heightened market participation and strong bullish sentiment.
Further supporting the positive outlook is JUP’s funding rate, currently at 0.0074%. A positive funding rate signals high demand for long positions, as long traders are paying short traders, reinforcing the ongoing uptrend.
JUP Price Forecast: Levels to Watch
As of this writing, JUP is trading at $0.95. If buying momentum persists, the price could climb to $1.08 and possibly reach $1.22 if bullish sentiment strengthens further.
