{"id":353308,"date":"2024-07-27T14:13:40","date_gmt":"2024-07-27T08:43:40","guid":{"rendered":"https:\/\/dripp.zone\/news\/jupiter-skyrockets-20-ahead-major-week-and-announcement-by-co-founder-crypto-news\/"},"modified":"2024-07-27T14:13:40","modified_gmt":"2024-07-27T08:43:40","slug":"jupiter-skyrockets-20-ahead-major-week-and-announcement-by-co-founder-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/jupiter-skyrockets-20-ahead-major-week-and-announcement-by-co-founder-crypto-news\/","title":{"rendered":"Jupiter Skyrockets 20% Ahead Major Week And Announcement By Co-Founder – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

Jupiter price extends the rally to more than 20% over the last few days as the Solana-based decentralized exchange announced a major tokenomics overhaul<\/strong>. The platform\u2019s co-founder Meow also said the upcoming week is important for JUP and the community.<\/p>\n

Jupiter Co-Founder Announces Big Week<\/h2>\n

Pseudonymous co-founder of Jupiter, known as Meow<\/strong>, earlier announced a plan to overhaul JUP tokenomics<\/a>. The proposal suggests significant changes, including a 30% reduction in the total supply of JUP, currently at 10 billion tokens. Also, a voluntary 30% cut from the team\u2019s allocated tokens and a related 30% decrease in \u201cJupuary\u201d emissions.<\/p>\n

<\/p>\n

Meow in a July 27 post on the X platform said the upcoming week is important for JUP. The week will witness major development activity, voting, discussions, and more. By the end of the week, the Jupiter community including developers, JUP holders, and associated projects will have a strong understanding of alignment.<\/p>\n

JUP Essay<\/strong> marks the beginning of the big week, followed with a community audit for JUP tokens distributed to date on Tuesday. The token supply reduction proposal<\/strong> will be submitted for voting on Wednesday. If passed, it could bring a further rally in JUP due to supply-demand dynamics. The plan includes a 30% reduction in the total <\/span>supply<\/span>, cutting 3 billion tokens, to boost the token\u2019s value and strengthen the community.<\/span><\/p>\n

Also Read: Terra Luna Classic Dev Reveals Severe Issues In Tax2Gas Review<\/a><\/strong><\/p>\n

<\/p>\n

Solana-Based DEX Aggregator Makes Continuous Progress<\/h2>\n

<\/p>\n

Earlier this month, the DEX<\/a> announced strategic partnerships to enhance its perpetual marketplace, focusing on long-term sustainability and collaborative growth with industry leaders Chaos Labs and Gauntlet. The platform shifted towards a more community-driven approach in its decision-making process.<\/p>\n

Solana-based DEX aggregator plans to continuously improve the security measures, expanding \u201cheuristics\u201d to better protect the community. Jupiter introduced the Ecosystem Token API that consolidates token, market, and partner details into a single, streamlined platform.<\/p>\n

Also Read: Donald Trump Receives Extended Support From Bitgo CEO & JD Vance<\/a><\/strong><\/p>\n

JUP Price Target $2<\/h2>\n

<\/p>\n

JUP price<\/a> jumped more than 13% in the past 24 hours and over 20% in a week, with the price currently trading at $1.15. The 24-hour low and high are $1.01 and $1.13, respectively. Furthermore, the Jupiter trading volume has increased by 20% in the last 24 hours, indicating a rise in interest among traders.<\/p>\n

As per an analysis by CoinGape, the anticipated breach of the $1 hurdle is likely to make a golden cross pattern. Thus,\u00a0 \u00a0 buying pressure and bullish sentiment depicted by indicators can take JUP to $2. The price has soared nearly 50% in a month.<\/p>\n

Also Read: WazirX to Lock 45% Assets In Recovery Plan<\/a><\/strong><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n
\n \"coingape\"