Jupiter Token: Is Jupiter Token Worth Investing in 2024

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Solana DEX Jupiter Unveils Key System Developments, JUP Price Recovery Ahead? – Crypto News

Published

2 years ago

May 8, 2024

Dripp

Solana DEX Jupiter founder ‘meow’ has recently taken to X, shedding light on crucial engineering updates related to the DEX’s core system. In a post shared by the founder today, May 8, it was pointed out that Jupiter’s community had been diligently working on numerous fundamental backend revamps to enhance user engagement on the platform.

Here’s a closer look at these developments, which promise to enhance user experience and hold potential for the DEX’s native token, JUP, sparking optimism among investors.

Envisioned Developments For The Solana DEX

As outlined in the founder’s post, the envisioned developments include a plethora of upgrades that aim to optimize user efficiency on Jupiter. Besides, these developments will extend beyond the ones listed below.

Perps Latency

Focusing on lowering latency, improving uptime, and enhancing robustness for perpetual contracts is an essential part of this engineering upgrade. This involves reducing the time taken to execute actions surrounding perpetual contracts and strengthening the platform’s resiliency and availability for users.

Refining Token Search

Whereas, considering the burgeoning number of available tokens in the market, it becomes essential to enhance the search functionality, primarily to aid users in quickly finding the tokens they’re interested in. Concerning this, the upgrades aim to bring in the filtering, searching, and sorting of coins on the platform.

Routing

This involves rapid integration of tokens and markets into the DEX’s routing engine and auto slippage engine while improving issues around transient fake routes, meow added.

Safety and Convenience

Further, finding the right tradeoff between safe trading and user convenience also remains a vital objective of these engineering upgrades.

Token Lists

Creating a new token list powered by data as well as the community, a much-stressed factor by the DEX founder, also looms.

In the interim, despite the founder’s unveiling of the abovementioned developments, the JUP price witnessed a notable pullback.

Also Read: Ethereum Price: Whales Move 150K Coins Amid ETH Retreat, What’s Next?

JUP Price Slips

As of writing, the JUP token has dropped 5.42% in the past 24 hours and is currently trading at $1.08. The token’s market cap tumbled 5.40%, followed by a plunge of 45.10% in 24-hour trading volume. This bearish turn has primarily ignited contrasting sentiments on the token’s future price movements.

Nonetheless, with remarkable engineering upgrades in the pipeline, as seen above, the JUP token remains poised to witness significant potential gains ahead. It’s also worth mentioning that Solana tanked 4.61% in the past 24 hours and is currently trading at $146.83, falling in line with JUP’s fall.

Also Read: Here’s How FTX Will Use Surplus Cash to Repay Bankruptcy Victims