Jupiter Exchange’s native cryptocurrency, the Jupiter token (JUP), birthed a tidal wave of speculations across the global crypto landscape on Monday following its continued price flux momentum amid its community’s recent advancements. As per CoinMarketCap’s data, the JUP token showcased a highly volatile movement today, gaining nearly 1% as of press time, reaching $0.5455. However, the token appears to have primarily been trading in the red since its inception. Meanwhile, the JUP token’s community spotlighted its recent developments, portraying the Solana-based project’s seamless functioning across the DeFi realm.
In addition, Marc Colcer, a renowned crypto market enthusiast, further arrayed his bullish thoughts on the DEX Jupiter Exchange, nabbing significant attention globally.
JUP Community Spotlights LFG Launchpool’s Smooth Sailing
According to a recent post shared by the DEX’s founder, going by the pseudo-name Meow, the community’s LFG launchpool is functioning as intended, staging as a backstop liquidity pool.
Data highlighted by Meow suggests the current balance in the pool for team liquidity totals 74 million USDC, which will rise or fall depending on the JUP token’s price. This marks a tempest of strides for the DEX, positioning it as a community-friendly, transparent, and alignment-focused mechanism that offers liquidity.
Meanwhile, the founder also shed light on unchanged launchpool fees compared to recent days, claiming 75% of the launchpool fees are being sent to the DAO, eyeing the funding of operational needs.
Moreover, Marc Colcer recently proclaimed that he is highly bullish on Meow and the Jupiter Exchange, garnering notable attention to the DEX. He fueled optimism for the Solana-based project, stating he had been using it ever since he ventured into Solana. Furthermore, it is always one of the first platforms the enthusiast highlights while introducing Solana to someone new.
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JUP Price: Report
As of writing, the JUP price noted a rise of 1.25% over the past 24 hours and is currently trading at $0.5455. However, its price chart in recent days appears to be showcasing quite the flux due to its recent inception and speculative trading across the market. Besides, the token’s market cap jumped 1.35% today, reaching $737.99 million. The trading volume, however, plunged 18.73%, reaching $273.95 million.
Notably, the founder recently cleared the air around fluctuations witnessed by the JUP price, birthing additional inferences for the token.
Also Read: Hong Kong Reveals Crypto Deadline For Investors, What’s It?
