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#BTC #ETH Jupiter (JUP) Surpassing Raydium to become the second largest Solana protocol!
With recent success, the Jupiter protocol is growing rapidly. This token project has experienced significant growth on the Solana network. The total value locked in the DEX platform increased by 5% last week. In this process, the total valuation reached $2.87 billion, surpassing its competitor, Raydium. According to data provided by DefiLlama, Raydium currently ranks third with a TVL of $2.7 billion.
This impressive growth comes after Jupiter recently announced a series of significant developments at the Catstanbul 2025 event. Jupiter announced the acquisition of the majority of Moonshot and SonarWatch project shares. This step supports the goal of creating a comprehensive portfolio tracking tool for Solana. Additionally, Jupiter also announced that 50% of the protocol's revenue will be used to repurchase JUP tokens. However, they also stated that they will burn 3 billion tokens.
Jupiter (JUP) is showing a strong upward trend
The significant rise of JUP tokens in this protocol indicates a strong price increase. The token has increased by 24% in the last 24 hours and is currently trading at a price of $1.19. Jupiter's success has made JUP one of the most profitable tokens in the market.
Based on the daily JUP/USD chart analysis, it is estimated that the upward trend will continue. The On-Balance Volume (OBV) currently reaches the highest level in history, reaching 1.3 billion dollars. The OBV value is used to predict price trends by measuring the flow of funds to a specific token. This OBV growth indicates continued buying pressure and forms upward pressure on the price.
In addition, the Chaikin Money Flow indicator (CMF) shows positive signs. At the time of writing, the CMF is 0.11. This indicates an increasing demand for the JUP token. A positive CMF indicates accumulation in the market and buyer dominance.
Prediction of JUP Token Price
Token JUP may break through the $1.22 resistance level and rise to $1.46 with the current increase in demand. However, it is mentioned that if there is selling pressure again, the price could drop to $1.08.
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