Jupiter Skyrockets 20% Ahead Major Week And Announcement By Co-Founder

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As a seasoned researcher with extensive experience in the crypto space, I find the recent developments surrounding Jupiter and its native token JUP quite intriguing. The announcement of a major tokenomics overhaul by co-founder Meow has led to a significant rally in JUP’s price, extending beyond 20% in just a few days.

The price of Jupiter has soared by more than 20% in the past few days following the important announcement of a tokenomics revamp from the Solana-based decentralized exchange. According to co-founder Meow, the upcoming week holds significance for JUP and its supporters.)

Jupiter Co-Founder Announces Big Week

The anonymous founder of Jupiter, referred to as Meow, recently unveiled plans for revamping JUP’s token economy. This proposal encompasses substantial adjustments, such as:

As a researcher studying the Jupiter project on the X platform, I highlighted in a post on July 27 that the upcoming week holds significant importance for our community. This period is anticipated to be marked by intensive development work, crucial votes, engaging discussions, and various other key activities. By the end of this week, the JUP ecosystem encompassing developers, token holders, and related projects will have gained a clearer sense of alignment and direction.

The week kicks off with JUP Essay, leading up to a Tuesday review of JUP tokens that have been distributed so far. A proposal for decreasing the token supply is set to be presented for a vote on Wednesday. If approved, this reduction could lead to an increase in JUP’s value due to market fundamentals. The plan calls for eliminating approximately 30% of the total supply, or around 3 billion tokens, to fortify the community and uplift the token’s worth.

Solana-Based DEX Aggregator Makes Continuous Progress

Based on my extensive background in the cryptocurrency and decentralized finance (DeFi) industry, I strongly believe that the recent strategic partnerships announced by the Decentralized Exchange (DEX) mark a pivotal moment in its development. As someone who has closely followed the DeFi space for years, I’ve witnessed countless projects come and go, but this DEX’s commitment to long-term sustainability and collaborative growth with industry leaders Chaos Labs and Gauntlet is truly impressive.

A Solana Decentralized Exchange (DEX) aggregator aims to enhance security by developing more sophisticated methods, extending “heuristics” for superior protection of its user base. Jupiter unveiled the Ecosystem Token API, which gathers essential token, market, and partner information into a unified, efficient interface.

JUP Price Target $2

In the past 24 hours, JUP’s price surged by over 13%, reaching a current value of $1.15. This marks a significant gain of more than 20% within just one week. The day’s lowest and highest prices were recorded at $1.01 and $1.13, respectively. Moreover, the trading volume for JUP has experienced a notable increase of approximately 20% in the last 24 hours, reflecting heightened investor attention.

Based on my analysis at CoinGape, I believe the coin JUP is poised to surpass the $1 mark soon. This anticipated breakthrough could result in a golden cross pattern, indicating robust buying pressure and optimistic investor sentiment. In just over a month, the price has already skyrocketed by almost 50%.

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2024-07-27 13:19