Jupiter (JUP) emerges as a new contender in the cryptocurrency landscape, serving as the native token of Jupiter, a decentralized exchange aggregator operating on the Solana blockchain. While the exchange itself was established in 2021, the coin was introduced earlier this year, positioning itself as a pivotal liquidity aggregator for Solana.
With aspirations to symbolize “DeFi 2.0” and function as the governance token within the ecosystem, Jupiter holds significant promise under the guidance of its pseudonymous founder. The founder’s vision includes leveraging Jupiter’s liquidity, which currently stands at 96,164,550.29 JUP and 69,927,955.07 USDC, to propel the growth and development of the Solana network and the broader crypto landscape. Additionally, the impending launch of Jupiter DAO signals the platform’s commitment to advancing Jupiter, Solana, and the entire crypto space.
At present, the live Jupiter price stands at $0.505214, with a robust 24-hour trading volume amounting to $307,674,358 USD. Despite being relatively new, Jupiter has quickly gained recognition, ranking #96 on CoinMarketCap with a market cap of $682,039,124 USD.
Jupiter boasts a circulating supply of 1,350,000,000 JUP coins out of a total supply of 10,000,000,000 JUP coins. However, recent market performance indicates a decline, with the Jupiter price experiencing a 12.6% decrease in the last 7 days and a significant downturn of 68.3% in the last 30 days. Notably, Jupiter reached its all-time high on January 31, 2024, peaking at $2.04, though subsequent fluctuations have been observed.
Despite recent market challenges, Jupiter remains a dynamic player within the Solana ecosystem, poised to contribute to the evolution of decentralized finance and liquidity provision. As the platform continues to mature and expand its offerings, it is likely to attract further attention and participation from the crypto community.
Source: https://coingape.com/blog/trending-altcoins-this-week-10-feb-2024/