Dallas, Texas – The market cap of JUP, the native token for Jupiter, recently surpassed $1 billion. This milestone reflects the growing interest in decentralized exchanges (DEXes) like Jupiter within the Solana ecosystem. In addition to JUP, other protocols such as Jito have also experienced significant growth.
JUP emerged as one of the top four newly issued tokens in 2024, with its market value exceeding $1 billion. Over the past 24 hours, the price of JUP has risen by 6.04%, reaching $1.04 at press time. Furthermore, the exchange has seen a notable increase in overall transactions and activity in recent months.
Notably, Jito, another Solana protocol, has witnessed a surge in interest as well. Jito, a protocol that addresses stake their SOL, has seen its native token, JTO, trading at $3.18 with a price surge of 5.97% over the past month. Despite the positive price movements, social activity surrounding both JTO and JUP has shown signs of decline in recent weeks.
Data from AMBCrypto revealed that the Social Volume and Weighted Sentiment for both tokens had decreased significantly. This suggests that while the tokens continue to make progress, their popularity on social media platforms has waned. It may take some time for these protocols to rekindle interest within the crypto sector.
The overall ecosystem surrounding Solana has been flourishing, with growing interest in various protocols and tokens. While the popularity of JUP and JTO may have experienced a dip on social platforms, the progress of Solana’s network and ecosystem as a whole indicates a positive trend.
In the broader cryptocurrency market, Solana’s native token, SOL, has shown promising growth. At the time of writing, SOL was trading at $142.72, having increased by 4.67% in the last 24 hours. The trading volume of SOL has also seen a significant uptick, rising by 12.06% during the same period. The future performance of SOL remains uncertain, with questions lingering on whether the current rally can be sustained in the long run.