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Jupiter Token Surges on Buyback and Burn Plans

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.

JUP Open Interest. Source: Coinglass

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 Funding Rate. Source: Coinglass

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.

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Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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