crypto-economy.com
TL;DR
- Jupiter aims to launch its mobile application by July, having become responsible for 50% of Solana’s computational load.
- Co-founder Siong revealed during the Solana Crossroads 2024 conference that they are working on a mobile version for late May or early June.
- Despite ups and downs, the JUP token has seen significant growth, backed by the platform’s success in transactions and trading volume.
Jupiter, the prominent DEX aggregator on Solana, is in the spotlight with its next foray into the mobile world.
Siong, one of its co-founders, announced at the Solana Crossroads 2024 conference that the Jupiter mobile app is on track to launch in late May or early June.
This development promises to further expand Jupiter‘s influence in the Solana network, where it is already responsible for half of the computational load.
Jupiter‘s success is reflected in its impressive numbers.
The platform processes more than 250,000 requests per second and has hosted nearly 1.85 million transactions in the last 24 hours, generating a trading volume of approximately $809 million.
Additionally, its perpetual contracts platform has achieved a 70% to 75% market share in perps trading on Solana, with a total value locked (TVL) of $340.7 million and a trading volume of $424.5 million in the last 24 hours, according to DeFi Llama.
The Jupiter Token’s Journey Has Been Equally Remarkable
After a volatile start due to community concerns and supply sales, the token managed to recover, reaching an all-time high of $1.75 in April, although it is currently trading at $1.11.
The integration with Clone Protocol opens new opportunities for Jupiter by allowing users to trade assets outside of the Solana ecosystem directly from its platform.
As JUP prepares for its mobile launch and continues to expand its service offering, its influence in the Solana ecosystem is likely to continue to grow.
However, crypto market volatility and potential regulations could pose challenges in the future.
The community and investors will be keeping an eye on how Jupiter handles these aspects as it seeks to maintain its position as a prominent player in the DeFi and crypto world in general.