Solana’s Jupiter JUP rises 20% following platform upgrades and token buyback plans
The post Solana’s Jupiter JUP rises 20% following platform upgrades and token buyback plans appeared on BitcoinEthereumNews.com.
JUP, the native token for Solana-based Jupiter exchange, has seen more than 20% rise in value over the last 24 hours, fueled by recent developments in the protocol. According to CoinMarketCap, JUP went from $0.899 earlier today to a peak of $1.262. JUP’s recent rally is tied to announcements by the Solana-based decentralized exchange (DEX) at its first-ever community conference, Catstanbul. The DEX, which is one of the biggest protocols on Solana, has unveiled several new features, products, and partnerships at the event in Istanbul. According to Jupiter, it is remaking its web and mobile platforms with the addition of new features such as Ultra Mode, Organic Scoring, Jupiter Shield, and RTSE. The exchange said that some of these features are first of their kind and plans to roll them out in the coming weeks. Most of these new features improve Jupiter’s user experience, which the DEX calls a reinvention of the protocol. For example, the Ultra Mode is expected to make the platform cheaper and better with real-time slippage estimation, optimized transaction landing, and dynamic priority fees. Organic Score also lets Meanwhile, the DEX plans to upgrade its manual mode to become customizable while launching a new UX for its spot platform. Although most of the upgrades will first be available on the Jup.ag web platform, the DEX plans to implement it in the mobile version later. Jupiter reveals new products and partnerships Beyond the platform upgrades, Jupiter has also revealed its full acquisition of on-chain portfolio tracker Sonar Watch. With the acquisition, Jupiter is launching a Solana portfolio tracker integrated into its protocol. This marks its second acquisition in the past few days after buying a majority stake in Moonshot. Meanwhile, the DEX has also proposed borrowing USDC with JLP deposits as collateral, noting that this could increase…
Filed under: News - @ January 26, 2025 11:12 pm