Jupiter Exchange token rises 10% but slips from its peak

The quick take

Price: $JUP at $0.348, +10.0% in 24 hours ↑ and +12.1% in 7 days ↑ (CoinGecko).
Trigger: No single cause is confirmed; the climb came as reports said Jupiter Lend passed Kamino Finance in deposits.
Watch: Whether $JUP keeps its daily gain while most large coins fall.

The Jupiter Exchange token rises against a falling market on Thursday. Jupiter Exchange ($JUP) traded at $0.348 at 15:38 UTC (11:38 a.m. ET), up 10.0% in 24 hours, per CoinGecko. It has already given back part of an overnight climb.

What happened

Most of the move came overnight. On Binance’s JUP/USDT pair, hourly closes rose from $0.315 at 15:00 UTC Wednesday to $0.380 by 08:00 UTC Thursday. CoinGecko puts the 24-hour high at $0.387 and the low at $0.316.

The token then slipped back. At $0.348, it sat about 10% below that high. It is still up 12.1% over seven days and 44% over 30 days, per CoinGecko.

$JUP’s market value stood near $1.16 billion, with $190 million traded in 24 hours. Jupiter’s own price feed showed $0.347, within 0.5% of CoinGecko.

Why it moved

No single cause is confirmed. The climb came as reports said Jupiter Lend had passed Kamino Finance ($KMNO) as Solana’s largest lending market.

SolanaFloor, citing Blockworks data, put Jupiter Lend deposits above $2.6 billion against $2.57 billion at Kamino. It also put Jupiter’s loans at $1.07 billion versus $982 million.

The measures differ. On DefiLlama, whose total value locked leaves out borrowed funds, Kamino Lend still led at $1.35 billion versus $1.19 billion for Jupiter Lend at 15:41 UTC. Jupiter’s own lending data showed about $632 million in its Earn pools.

Who’s buying and selling

Pool data gave mixed signals. In the largest $JUP pool listed by DexScreener, a JUP/SOL pool on Orca, sells outnumbered buys 26,231 to 22,082 over 24 hours. GeckoTerminal’s top pool, on Meteora, showed 5,011 buys and 3,525 sells.

The rise stood apart from the wider market. Solana ($SOL) fell 6.6% in 24 hours, per CoinGecko. LiveCoinWatch showed Bitcoin ($BTC) down 2.6% and Ethereum ($ETH) down 4.5%.

What to watch next

Watch whether $JUP holds its daily gain while most large coins slide. The next readings from Blockworks and DefiLlama will show whether Jupiter Lend keeps its deposit lead.

Bottom line: $JUP is up 10.0% on the day against a falling market, though it has already given back part of its overnight climb.

Price data: CoinGecko, checked against Jupiter.