As a researcher with experience in the crypto market, I’m keeping a close eye on the recent developments surrounding Jupiter (JUP), the Solana-based decentralized exchange. Despite today’s bearish trend in the broader crypto market, the optimism surrounding JUP has remained unwavering.
As a crypto investor, I’ve noticed the buzz surrounding Jupiter (JUP), the decentralized exchange built on the Solana blockchain, recently. Even with the overall crypto market taking a bearish turn on July 4th, there’s been an undercurrent of excitement among investors regarding potential price growth for the JUP token.
Significantly, Upbit, a renowned South Korean cryptocurrency exchange, now accepts the native token of Solana’s decentralized exchange (DEX). This development is seen as a positive sign and could potentially boost the token’s value in the future.
South Korean Exchange Unveils Listing
Based on the announcement made by Ubit cryptocurrency exchange, trading for JUP will begin today. The following pairings are supported: JUP/USDT, JUP/BTC, and JUP/KRW.
As a researcher, I can tell you that I’ve discovered that deposits and withdrawals will begin two hours following the public announcement. The Solana network will facilitate these transactions.
The exchange only permits trades through its pre-approved networks and does not allow buy orders for about 5 minutes following trading support. Additionally, sell orders priced more than 10% below the previous day’s closing price are restricted for around 5 minutes after trading support.
Meanwhile, other updates on the JUP listing were also rolled out on Upbit’s official site.
At the same time, crypto market observers anticipate a major price change, with past listings on the South Korean exchange Upbit leading to substantial price increases for coins like Zetachain (ZETA) and Omni Network (OMNI), as reported by CoinGape Media earlier this year.
The positive reports about JUP token have put a hopeful spin on its future price trends, even though there was a decline today.
Jupiter Price Plunges
At the current moment of reporting, the price of JUP token declined by 3.41%, reaching $0.7986. The lowest and highest prices it reached within the last 24 hours were $0.7446 and $0.8273 respectively.
The trading volume of the token increased by 103.03% over the past day, reaching $219.30 million. Notably, this decline in its price aligns with the overall market trend. Similarly, Solana’s (SOL) value dropped by 7.69%, trading at $134.54.
As a researcher, I’d like to point out that if a significant amount of money is injected into the market through an initial public offering (IPO), it could potentially lead to a price recovery.
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2024-07-04 12:01