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Jupiter price is holding steady near $0.50 as excitement builds around the beta launch of Jupiter Lend, a new lending protocol designed to expand $JUP’s utility and strengthen its role in Solana DeFi.
- $JUP trades at $0.5082, up 3.7% in 24h, with trading volume jumping 80% to $97.6M.
- Jupiter Lend beta introduces 40+ vaults, reduced liquidation penalties, and $2M in incentives.
- $JUP can now be used as collateral, potentially deepening its ecosystem utility.
As the project launched the public beta of Jupiter Lend, a new money market on Solana (SOL), Jupiter ($JUP) was up 3.7% in the last day, trading at $0.5082 at the time of writing.
Over the past week, the token has fluctuated between $0.4588 and $0.5376, indicating consolidation. Even though $JUP is up 1.1% for the week, it is still 5.7% down in the past month and 74% below its all-time high of $2.00 set in January 2024.
$JUP recorded $97.6 million in spot trading volume over the last day, an 80% increase from the previous session, indicating a surge in market activity. Regarding derivatives, Coinglass data shows that open interest increased 8.1% to $137.3 million and futures volume increased 49.3% to $313.2 million, indicating a resurgence of speculative activity.
Spotlight on Jupiter Lend
Jupiter announced the release of Jupiter Lend in a post on X on Aug. 27. The lending protocol, which was developed in partnership with Fluid DeFi, offers a full suite of lending and borrowing markets on Solana.
Its unique feature is the combination of automated yield vaults and isolated lending pools, which enables users to optimize returns while managing risk more effectively.
Over 40 vaults went live at launch, providing exposure to a variety of assets. In contrast to traditional DeFi lending platforms, the protocol also introduced lower liquidation penalties, a feature intended to make borrowing less punishing and increase user retention.
The rollout has been seeded with $2 million in incentives from Jupiter, Fluid, and their partners in an effort to attract early adopters and bootstrap liquidity. Importantly, $JUP can now be used as collateral, increasing its role in the ecosystem and providing token holders with more flexibility.
This move might improve $JUP’s utility narrative, particularly if the protocol is successful in diverting liquidity from rival lending markets in Solana.
Jupiter technical analysis
Technically speaking, $JUP is consolidating with mixed indicators around the $0.50 mark. While momentum readings are slightly bullish, the relative strength index is at 51, indicating neutrality.
The longer 200-day moving averages are still bearish, reflecting the overall downward trend since January highs, while the shorter-term moving averages (10–100 EMA and SMA) point to upward support.
Support is forming around $0.46, while key resistance is located close to $0.54, a level that has been tested in the last week. If support is not maintained, the token may return to the $0.44–$0.45 range, but a clear break above resistance could create space toward $0.60.