<\/p>\n
Jupiter now accounts for 50% of Solana\u2019s computational load.<\/p>\n
Siong, the co-founder of Jupiter, Solana\u2019s leading DEX aggregator, unveiled a target launch date for the protocol\u2019s mobile app.<\/p>\n
Speaking during the\u00a0Solana Crossroads 2024 conference<\/a>, Siong revealed that the project is aiming to roll out its mobile app during \u201clate May or early June.\u201d Siong noted that a \u201ctest flight\u201d version of the application is already \u201cup and running,\u201d with Jupiter currently in the process of submitting the mobile app to Apple for approval.<\/p>\n The news comes as Jupiter is driving a dominant share of trading activity on Solana.<\/p>\n Siong estimated that Jupiter accounts for roughly 50% of Solana\u2019s computational load per\u00a0block, and is\u00a0receiving more than 250,000\u00a0requests from users\u00a0per second.<\/p>\n According to Jupiter Station, Jupiter hosted nearly 1.85 million transactions in the past 24 hours, equating to\u00a0nearly\u00a0$809 million in trade volume.<\/p>\n The project also launched a perpetual contracts trading platform roughly seven months ago, which has since grown to capture\u00a0a roughly\u00a070% to 75% market share for perps trading on Solana.<\/p>\n The Jupiter Perpetual Exchange currently boasts a total value locked (TVL) of $340.7 million and drove $424.5 million worth of volume in the past 24 hours, according to DeFi Llama.<\/p>\n Jupiter also airdropped its JUP token to 955,000 early adopters in January, with the token debuting at a\u00a0$900 million<\/a>\u00a0market cap, according to CoinGecko.<\/p>\n Like many airdropped assets, JUP slumped during its first month of trade, falling 29% to\u00a0post\u00a0an all-time low of $0.47 two weeks after launching. The downward momentum\u00a0was intensified\u00a0by backlash from Jupiter\u2019s community in response to Jupiter moving to sell\u00a018.5% of JUP\u2019s supply<\/a>\u00a0via its LFG Launchpad just a couple of days after the airdrop.<\/p>\n However, JUP\u00a0began to regain\u00a0steam in late February, rallying to a record high of $1.75 in early April. The token has since pulled back by 36.6%, last changing hands for $1.11.<\/p>\nJUP rollercoaster<\/h2>\n