Why did the price of JUP go up?

Jupiter (JUP) increased by 0.99% in the last 24 hours, a small gain compared to a larger 11.4% drop over the past 30 days. This uptick fits with a recent shift toward alternative cryptocurrencies (Altcoin Season Index up 26% this week) and is driven by three main factors:

1. Token Burn Approved – 130 million JUP tokens (about 4% of the total supply) were permanently removed after a community vote, helping reduce selling pressure.
2. DeFi Buyback Trend – Jupiter is joining other platforms like Uniswap by buying back tokens, showing a commitment to making tokens scarcer.
3. Technical Bounce – The token was oversold (RSI at 38.5) and near an important support level ($0.347), encouraging buyers to step in.

Deep Dive

1. Token Burn Execution (Positive for Price)

What happened:
On November 6, 2025, Jupiter’s community voted to burn 130 million JUP tokens, worth about $44.5 million at current prices. These tokens were taken out of circulation permanently from a reserve fund originally set aside for buybacks.

Why it matters:

• The total number of tokens available dropped from 3.22 billion to about 3.09 billion, which can make each remaining token more valuable.
• This shows the community and leadership are actively managing the token supply, which can boost investor confidence.
• Historically, token burns often lead to price increases if demand stays steady (NullTX).

What to watch:
Keep an eye on how the circulating supply changes and whether more people start staking their JUP tokens (currently about 23% are staked).

2. DeFi Buyback Momentum (Mixed Effects)

What’s happening:
Jupiter’s token burn is part of a larger trend in decentralized finance (DeFi) where platforms like Uniswap and Lido are buying back tokens. These protocols now give about 64% of their revenue back to token holders, up from 13% in 2024 (CryptoSlate).

Why it matters:

• Buybacks reduce the number of tokens available for sale, which can support prices. Jupiter’s approach focuses on burning tokens rather than redistributing them, which reduces supply.
• However, this depends on the platform continuing to generate enough revenue—Jupiter’s fees reached $82.4 million in Q2 2025, a 221% increase from the previous quarter.

3. Technical Rebound (Neutral)

What’s going on:
Jupiter’s recent price rise happened alongside technical signals showing the token was oversold (RSI of 38.5) and near a key support level at $0.347 (based on Fibonacci retracement). Trading volume increased slightly by 0.7% to $44.7 million but is still below the 30-day average.

What it means:

• Short-term traders likely bought the dip, but other indicators like MACD (-0.0033) and the 30-day exponential moving average ($0.373) still suggest downward pressure.
• For a sustained upward move, JUP would need to close above $0.37 (30-day simple moving average).

Conclusion

Jupiter’s small gain over 24 hours is driven by optimism from reducing token supply and buying at key support levels. However, broader market challenges—like a cautious crypto market (Fear Index at 25) and weak technical signals—limit how far the price can rise right now. Key point to watch: Can JUP maintain support at $0.34 if Bitcoin’s dominance (currently 59%) keeps increasing?

What could affect the price of JUP?

Jupiter's price is caught between the growth of Solana's decentralized finance (DeFi) ecosystem and uncertainties around its governance.

1. Tokenomics Changes – A recent 4% token burn versus upcoming token unlocks
2. Solana Ecosystem – Expansion and competition within Solana's DeFi space
3. Product Adoption – Launch of a lending platform and its impact on revenue

Deep Dive

1. Token Supply Dynamics (Mixed Impact)

Overview:
In November 2025, the "Litterbox Burn" removed 130 million JUP tokens, about 4% of the total supply, creating short-term scarcity. However, on July 28, 2026, 1.28% of the supply (worth $32 million) will become available again. Additionally, the Jupiter team holds 50% of tokens, with vesting (gradual release) starting in 2026. The Active Staking Rewards (ASR) program recycles unclaimed airdrop tokens instead of burning them.

What this means:
While the burn helps reduce token supply temporarily, the upcoming unlocks and recycling of tokens through ASR could put downward pressure on prices over time. Historically, token unlock events have led to price drops of around 19% (source).

2. Solana DeFi Competition (Bearish Risk)

Overview:
Jupiter currently handles 80% of token swaps on the Solana network but faces growing competition. For example, Pump.fun controls 65% of meme token trading volume. Solana's total value locked (TVL) in DeFi increased 23% month-over-month to $12 billion, but network instability issues could discourage users.

What this means:
Jupiter’s success depends on maintaining its leading position within Solana’s ecosystem. If it loses ground to competitors like Raydium or Meteora, or if Solana experiences outages, users and capital might move elsewhere.

3. Jupiter Lend Launch (Bullish Catalyst)

Overview:
Jupiter plans to launch a lending protocol in Q4 2025, offering loans up to 90% of collateral value, backed by $2 million in incentives. Early beta testing shows $500 million in TVL, with half of the fees used to buy back JUP tokens.

What this means:
If widely adopted, this lending platform could drive growth similar to established platforms like Aave. However, competitors like Kamino have much larger TVLs ($2.67 billion), setting a high bar. To counteract token dilution from ASR, Jupiter needs to generate over $40 million in annual revenue from fees.

Conclusion

Jupiter’s future depends on successfully expanding its products while managing token supply inflation—a delicate balance complicated by governance delays until 2026. Key developments to watch include the rollout of the JupUSD stablecoin in Q4 2025 and growth in Solana validators (Jupiter currently ranks 7th). The big question: Can Jupiter evolve from a swap aggregator into a full DeFi platform before token dilution accelerates?

What are people saying about JUP?

The Jupiter (JUP) community is feeling a mix of excitement and concern as new products launch and governance issues arise. Here’s the latest:

1. Token burn approved to reduce inflation, sparking optimism
2. DAO governance paused until 2026, raising worries about central control
3. Jupiter Lend beta launched, boosting hopes for a top DeFi app
4. $32 million token unlock challenges the market’s ability to absorb new supply
5. $0.63 price resistance is a key level for buyers to watch

Deep Dive

1. Token Burn Gets Strong Approval 🚀

@cloudz reports that 86% of voters approved burning 4% of the circulating JUP tokens—about 134 million coins.
View original post
Why it matters: Burning tokens reduces the total supply, which can help ease inflation and support the price. Plus, half of the protocol’s fees go toward buying back JUP, adding further support.

2. DAO Governance Paused Until 2026 🛑

According to CoinMarketCap, the decentralized autonomous organization (DAO) that governs Jupiter has paused voting until 2026.
View article
Why it matters: This pause means important decisions, like how to spend treasury funds, are delayed. While this could slow progress, it also lets the team focus on building products like Jupiter Lend.

3. Jupiter Lend Beta Launches with Ambitious Loan Terms 📈

JupiterExchange shared that Jupiter Lend offers loans up to 95% of the collateral value (LTV), which could attract traders using leverage.
View original post
Why it matters: Higher loan-to-value loans can increase trading activity and fees, half of which are used to buy back JUP tokens. This could help Jupiter Lend compete with big players like Kamino Finance, which manages $2.67 billion in assets.

4. $32 Million Token Unlock Absorbed Without Crash 🤹

Tokenomist via CoinMarketCap reports that 42% of newly unlocked tokens were absorbed by the market without a price crash, with JUP rising 42% over the month.
View article
Why it matters: Token unlocks often cause price drops, as seen with a 19% fall after a previous unlock in March 2025. This time, demand seems stronger, softening the impact.

5. $0.63 Resistance Level Is Crucial 🎯

@ali_charts highlights $0.63 as a key resistance point. Closing above this could push JUP up to $0.76, while failure might lead to a drop back to $0.51 support.
View analysis
Why it matters: This price level will likely determine if JUP can start a new upward trend or if it will retrace lower.

Conclusion

The outlook for Jupiter (JUP) is mixed. On one hand, the launch of Jupiter Lend and the token burn are positive signs. On the other, paused governance and token unlocks create uncertainty. Keep an eye on whether JUP holds above $0.51 after the unlock—falling below could confirm fears of dilution, while staying above could set the stage for growth driven by Jupiter Lend.

What is the latest news about JUP?

Jupiter is balancing token burns with the growing trend of DeFi buybacks while supporting new, experimental projects. Here’s the latest update:

1. Litterbox Burn Approved (November 6, 2025) – 130 million JUP tokens (about 4% of the total supply) were destroyed to increase scarcity.
2. DeFi Buyback Trend (November 12, 2025) – Jupiter is using half of its on-chain revenue to buy back JUP tokens.
3. Economic Hedge Tokens Launch (November 5, 2025) – A new token project has launched on the Jupiter decentralized exchange (DEX).

Deep Dive

1. Litterbox Burn Approved (November 6, 2025)

Overview:
The Jupiter DAO (Decentralized Autonomous Organization) voted with strong support (86%) to burn 130 million JUP tokens held in the Litterbox Trust. This trust is a reserve funded by half of the protocol’s revenue. Burning these tokens reduces the circulating supply by about 4%, helping to prevent future dilution from the Trust’s growing holdings.

What this means:
This token burn shows Jupiter’s commitment to transparency and tightening its token economy for the long term. By permanently removing these tokens, Jupiter aligns the interests of the DAO and token holders. However, the price of JUP stayed steady at $0.34 after the announcement, suggesting the market had already anticipated this move or is waiting for more news (NullTX).

2. DeFi Buyback Trend (November 12, 2025)

Overview:
Jupiter joined other DeFi projects like Uniswap and Lido by starting token buybacks. It uses 50% of its on-chain fees to repurchase JUP tokens. This is similar to how companies buy back shares to increase their value by reducing supply.

What this means:
Buybacks can help balance supply and demand for JUP, potentially supporting its price. However, some critics worry that buybacks might concentrate governance power and focus too much on short-term price gains instead of long-term development. Jupiter’s method is more sustainable because it uses ongoing on-chain revenue rather than one-time treasury funds (CryptoSlate).

Conclusion

Jupiter’s strategy of combining token burns with buybacks shows it is evolving as a DeFi project, carefully managing token scarcity while growing through revenue. These moves address concerns from token holders, but future success depends on wider adoption of Jupiter’s products (like Jupiter Lend) and the overall growth of Solana’s DeFi ecosystem. The key question remains: will the reduction in JUP supply be enough to counteract selling pressure after its 38% drop over the past 60 days?

What is expected in the development of JUP?

Jupiter is moving forward with several key developments:

1. ICO Platform Launch (November 2025) – Only $JUP stakers will get early access to fund new projects within the ecosystem.
2. Jupnet Public Testnet (Early Q4 2025) – A new network designed to connect liquidity across different blockchains, focusing on fast transactions using Solana.
3. JupUSD Stablecoin Integration (Q4 2025) – A stable digital dollar tied to real-world assets, built on Solana, to be used across Jupiter’s services.
4. DAO Governance Resumption (Early 2026) – Community voting will restart with simpler rules to manage proposals and funds more effectively.

Deep Dive

1. ICO Platform Launch (November 2025)

What’s happening: Jupiter will launch a decentralized platform where new projects can raise funds. Only people who stake $JUP tokens will have exclusive access to participate early. This encourages more community involvement and makes launching tokens on Solana easier (Cryptobriefing).
Why it matters: This could increase demand for $JUP tokens as more people stake them to join early funding rounds. However, if the platform doesn’t carefully vet projects, it might hurt Jupiter’s reputation.

2. Jupnet Public Testnet (Early Q4 2025)

What’s happening: Jupnet is a new network that aims to connect liquidity (funds available for trading) across multiple blockchains while keeping Solana’s fast transaction speeds. The public test version is expected by late 2025 (Jupiter Q2 Update).
Why it matters: If successful, Jupiter could become a leader in cross-chain trading, making it easier to move assets between blockchains. But this is technically challenging and faces competition from other projects like LayerZero.

3. JupUSD Stablecoin Integration (Q4 2025)

What’s happening: Jupiter is partnering with Ethena Labs to launch JupUSD, a stablecoin native to Solana. It will be backed by institutional assets, including BlackRock’s BUIDL treasury fund, and will be integrated into Jupiter’s lending, derivatives, and mobile platforms (The Block).
Why it matters: This stablecoin can increase the use of $JUP by enabling more transactions and financial products. However, because it relies on centralized reserves, it might face regulatory challenges.

4. DAO Governance Resumption (Early 2026)

What’s happening: Jupiter’s decentralized autonomous organization (DAO) paused voting in 2025 but will restart in early 2026 with simpler governance processes. This includes fewer proposals and a focus on decisions that have a big impact (Support Docs).
Why it matters: Improved governance could build more trust within the community. However, the long pause might have disappointed some supporters who value continuous decentralized decision-making.

Conclusion

Jupiter’s roadmap focuses on growing its ecosystem through new funding platforms, a stablecoin, and improved cross-chain technology, while also refining how the community governs the project. These steps could make $JUP more useful and strengthen Jupiter’s position in the competitive Solana DeFi space. Still, success depends on how well these plans are executed and how external factors like market changes and regulations affect Jupiter’s goals.

What updates are there in the JUP code base?

In 2025, Jupiter (JUP) made significant improvements to its API system and security features.

1. API Gateway Split (March 2025) – Jupiter separated its API into free and paid versions to handle more users efficiently.
2. Trigger API Update (March 2025) – Introduced new tools for placing and canceling orders.
3. Old API Retirement (June 2025) – Phased out older price and token APIs for more reliable versions.

Detailed Overview

1. API Gateway Split (March 2025)

What happened: Jupiter divided its API into two parts: one for free users (lite-api.jup.ag) and one for paid users (api.jup.ag). This change made the system faster by about 30% and lowered operating costs.

Free users needed to switch to the new free API by May 2025. Paid users kept access to the original API but with higher usage limits. The system now also provides clearer error messages, like a 401 error for unauthorized access.

Why it matters: This upgrade is positive for Jupiter because it improves service quality for large-scale users while still supporting developers who use the free API. However, moving to the new system might slow down growth temporarily as developers adjust.
(Jupiter Docs)

2. Trigger API Update (March 2025)

What happened: Jupiter replaced the old /limit/v2 API with a new /trigger/v1 API. This update added features like a requestId to track orders better.

Key changes include:

• A new /execute endpoint for completing orders in one step.
• The response field tx was renamed to transaction.
• Ability to cancel multiple orders at once using /cancelOrders.

Why it matters: This update is neutral for Jupiter’s growth. It gives traders more control but requires developers to update their software. The focus is on making the system scalable for the future, even if it’s a bit less convenient now.
(Jupiter Docs)

3. Old API Retirement (June 2025)

What happened: Jupiter retired its older Price API V2 and Token API V1, replacing them with improved V3 versions. These new APIs use better methods to detect unusual data and check liquidity more accurately.

The Price API V3 pulls data from live swap transactions, and the Token API V3 adds extra details like audit status and how much liquidity a token has. Developers had until August 2025 to switch to the new APIs.

Why it matters: This is a strong positive for Jupiter because it cut down fake token listings by about 40%, making the platform more trustworthy and keeping users engaged.
(CoinMarketCap Community)

Conclusion

Jupiter’s 2025 updates focus on making their platform more scalable and secure, supporting its role as a key player in Solana’s decentralized finance (DeFi) space. While the transition may challenge smaller developers, these improvements set Jupiter up for wider adoption by institutions. The big question remains: Will these API upgrades lead to noticeable growth in total value locked (TVL) by the end of the year?