The post Jupiter (JUP) Gains Amid $3B Token Burn and Buyback Plan appeared on BitcoinEthereumNews.com.

Jupiter announces two crucial strategies to reduce emissions – launch a buyback strategy and burn $3.6 billion worth of JUP. Under the buyback strategy, 50% of the protocol fees would be used to make additional purchases, while the remaining 50% goes into the growth initiative.  Jupiter (JUP) defies the odds as it suddenly flips its bearish trend into a bullish one amidst the ongoing broad market pullback. As noted in our earlier post, the asset has surged by 15% in the last 24 hours to hit $1. Fascinatingly, its gains on the 1-hour chart had also skyrocketed to 8.9%, dragging its market cap to $1.7 billion at the time of writing. Reasons Behind Jupiter’s (JUP) Price Surge Exploring some of the factors behind this growth, CNF discovered that investors are significantly reacting to the keynote address of the pseudonymous founder “Meow” at the Catstanbul 2025, which highlighted the plans to enhance the value proposition of the token without affecting its utility. In the address, Meow disclosed that Jupiter may burn 3 billion JUP tokens ($3.6 billion). As we mentioned in our previous news brief, this exercise would subject the price to a significant surge. Additionally, it would increase certainty, reduce emissions, and lower the Fully Diluted Valuation (FDV). In addition to the burning exercise, the Jupiter founder pointed out that there would be a buyback program where 50% of Jupiter’s protocol fee would be used to repurchase the token. After this, the acquired tokens would be kept in a “long-term litterbox” to stabilize their value over some time. Meanwhile, the remaining 50% would go into the growth initiative and sustain the platform’s operations. Source: Ashen on X Following this report, the JUP’s Open Interest (OI) skyrocketed by 25% in just 24 hours to reach $364 million. A surge in this…

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Filed under: News - @ January 28, 2025 1:24 am