Jupiter Exchange token loses 11% and keeps sliding

Jupiter Exchange token loses 11% and keeps sliding into the night

Jupiter Exchange ($JUP) traded at $0.2508 at 7:40 p.m. ET on Thursday, down 11% in 24 hours and 19% over the past week.

The quick take

Price: $0.2508, −11% in 24 hours ↓ (CoinGecko, 23:40 UTC).
Trigger: a 6.5% drop in the hour to 21:00 UTC as Solana tokens fell together; Jupiter Exchange shared no news that explains it.
Watch: whether selling eases after the token slipped under its 24-hour low of $0.2519.

What happened

The Jupiter Exchange token loses 11% in 24 hours to trade at $0.2508 on Thursday, as of 7:40 p.m. ET (23:40 UTC), according to CoinGecko. Jupiter Exchange ($JUP) now sits just under the 24-hour low of $0.2519 on CoinGecko’s coin page. Jupiter’s own price feed showed the same $0.2508.

CoinGecko’s 24-hour range runs from $0.2857 down to $0.2519. Over seven days, $JUP is down 19%, a figure CoinGecko and CoinPaprika agree on. The token trades about 87% below its record high of $2.00, set on Jan. 31, 2024.

Why it moved

The slide came in two steps. On Binance’s JUP/USDT pair, the price eased from $0.2839 at 23:00 UTC on Wednesday to $0.2728 by 20:00 UTC Thursday, after a short afternoon bounce to $0.2822. Then it fell 6.5% in one hour, to $0.2552 at 21:00 UTC.

It did not recover after that. The pair closed at $0.2526 at 23:00 UTC and traded at $0.2511 at 23:41 UTC.

The drop came as most Solana tokens fell together. Solana ($SOL) slid from $99.82 to $96.17 in the same hour on Binance’s SOL/USDT pair and is down 6.0% in 24 hours at $96.18, per CoinGecko. Raydium ($RAY) lost 12% and Pump.fun ($PUMP) 11%, while Bitcoin ($BTC) slipped 3.4% to $78,391, according to LiveCoinWatch.

Jupiter Exchange shared no news in the past day that explains the move, so the cause is not confirmed.

Who’s buying and selling

Readings from the token’s pools point different ways. In the Orca JUP/SOL pool, DexScreener counted 10,377 buys against 9,579 sells over 24 hours, with about $583,000 in liquidity. In the larger Meteora JUP/SOL pool, GeckoTerminal counted 2,035 sells against 1,329 buys, with $1.9 million in liquidity.

Across all markets, CoinGecko put 24-hour trading volume at $45.2 million and the token’s market value at $833 million.

What to watch next

Whether $JUP steadies near $0.25 or keeps setting fresh 24-hour lows.
Jupiter’s perps venue: DefiLlama shows $701 million locked in the Jupiter Perpetual Exchange.
Any post from Jupiter Exchange that could explain the drop.

Bottom line: Jupiter Exchange’s token lost 11% in a day, with a sharp drop at 21:00 UTC and no rebound into the night.

Price data: CoinGecko (cross-checked with Jupiter).