Jupiter Exchange Slashes 30% of JUP Supply in $3 Billion Burn

News, Trending

  • Jupiter Exchange burns 3 billion JUP, cutting supply by 30%, valued at $3 billion.
  • JUP price surged 6%, reaching $0.97, with trading volume up 200% in 24 hours.
  • Token burn, buyback plan, and strong technical indicators signal potential for future growth.

Jupiter Exchange stunned the crypto market with a massive token burn. The Solana-based platform destroyed 3 billion JUP tokens, reducing the supply by 30%. This bold move, valued at $3 billion, caused JUP to rise 6% in 24 hours to $0.97. Trading volume also skyrocketed 200% to $1.74 billion as investors rushed to take advantage of the news.

https://twitter.com/Cointelegraph/status/1883845767024247283

Jupiter Unveils Bold Plans at Catstanbul 2025

During the Catstanbul 2025 event, founder Meow announced ambitious steps to boost JUP’s value. The exchange plans to eliminate billions of tokens to cut emissions and lower the fully diluted valuation. Meow described the burn as a way to build trust and improve token fundamentals. Half of protocol fee revenue will go toward repurchasing JUP tokens.

These tokens will remain locked in a reserve called the “long-term litterbox,” signaling long-term stability. The remaining revenue will fund growth and operational costs. This news immediately energized the market. JUP spiked 37% on the four-hour chart, hitting $1.28, the highest in 30 days. Over the past month, the token gained 20%, though it still trades 50% below the all-time high of $2.04 from January 2024.

Technical indicators show positive momentum for JUP. The MACD line reflects growing interest, while the Accumulation/Distribution indicator reveals recent profit-taking. Analysts view this pullback as a good buying opportunity.

Crypto analyst Batman shared advice on X, saying, “Rare opportunities like this deserve attention. Use them wisely.” The next major support level for JUP sits at $0.75, a price not seen since early 2024. Jupiter Exchange has positioned JUP as a standout token in a challenging market.

The $3 billion burn and new strategies reflect confidence and long-term vision. Whether JUP maintains the current momentum remains to be seen, but this bold step has already made waves.

The post Jupiter Exchange Slashes 30% of JUP Supply in $3 Billion Burn appeared first on Cryptonewsland.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed

Leave a Reply