JUP Token Price Jumps 6% as Token Burn & Buyback Drive Rally
Jupiter’s Aboriginal token JUP has become the highest beneficiary of the market. Although during this period, it has climbed 6 % in the past 24 hours. After the surge, it was announced that the decentralized exchanges headquarters in Sorana will burn some of its Jup token and allocate half of its costs to repurchase the symbol from the market.
With strengthening bullish bias, Jup is preparing to maintain its upward trend in the short term.
Jupiter will burn the $ 3.6 billion Jup token to start the repurchase plan
Jupiter ended the first “Catstanbul 2025” event in history Keynote Provided by his pseudonym founder “Meow”, he outlines two main plans to enhance the value and practicality of Jup.
A plan is to burn 3 billion Jup token, which is currently worth about $ 3.6 billion. According to MEOW, this will “reduce emissions, increase certainty and reduce completely diluted valuation (FDV).”
MEOW also announced a repurchase plan and pointed out that 50 % of Jupiter’s agreement income will be assigned to the repurchase Jup token. These token will be held in the “long -term trash tank”, which indicates that it promises to stabilize the value of the token over time. The remaining 50 % of the cost income will be targeted at the growth plan and ensure the stability of the platform’s operation.
Jup token response
These announcements are Jup of positive influenceThe value of its value immediately soared to a 30 -day high of $ 1.28 on Sunday.
As of writing this article, the purchase activity is still ongoing, which is proven by the opening interest of token. At the time of press time, this will reach $ 364 million for several months, which has climbed 25 % in the past 24 hours.
Open interest to measure the total number of derivative contracts, such as futures Or unsolved options. When it rises during the price rally, it shows that the market participation is increasing and increased. This shows that new funds are flowing into the JUP market, thus strengthening price increases.
In addition, Jup’s positive funding rate confirms this prospect of bullish. At the time of release, this was 0.0074 %, reflecting the continuous increase in demand for long positions.
The funding ratio is regular payment, which aims to keep the contract price at the spot price of basic assets. Like JUPThe positive funding rate means that long holders are paying short position holders, indicating that their views on the long -standing position and higher demand on the market.
JUP price prediction: the key level to watch
At the time of press release, Jup’s transaction price was $ 0.95. If the purchase pressure is maintained, the price of the tokens may extend its current income to $ 1.08. If the bias bias enhances, JUP can be exchanged at a price of $ 1.22.
On the other hand, the transformation of market trend steering profitability will invalidate this viewing forecast. In this case, the price of JUP may be lower than support Established at a price of $ 0.95 and fell to $ 0.81.
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