Recently solana -based swap platform Jupiter (JUP) managed to attract attention in the crypto money market. Jup Coin’s price tested the level of $ 1.2 with a 25 percent rise in the last 24 hours, while the daily transaction volume exceeded $ 1 billion. Market value exceeding $ 2 billion Jupis preparing to enter the 50 most valuable crypto money. Behind this mobility is the strategic steps and technical improvements explained by the team.
Reasons behind Jupiter’s rise
JUP’s priceOn the basis of the harsh rise in the project team has significant updates announced in recent weeks. Firstly, the platform announced that it will start a 50 million dollar jup Coin recovery using 50 percent of its 2024 revenue. This move increased expectations for the contraction of supply. In addition, 3 billion units that make up a significant part of the total supply Jup coinreportedly will be burned.
In addition, to expand the Jupiter ecosystem MoonshotInvestment was made and the Jupnet network was implemented. The project also Eliza Labs It aims to accelerate technical developments in the Solana ecosystem by creating an artificial intelligence fund of $ 10 million. While all these initiatives refreshed investors’ confidence in the project, they also fueled the procurement pressure.
Can Jup Coin’s price refresh the record?
Jup Coin’s price graph gives technically strong signals. Altcoin, which has been supporting $ 0.8 since January, has started to rise from this level. In the short term, the resistance of $ 1.3 is expected to be tested, while the price is expected to reach the $ 1,37-1.39 band if this level is exceeded.
The 50 -day moving average is about to pass the 200 -day average upward. This “Golden Cross” signal rise trendindicates that it will continue. Chainlink 
$22.6 Money flow The fact that the indicator exceeds the “0” level also shows that market participation has increased. All these factors promise hope for investors who focus on the JUP’s $ 2 target.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
