Jupiter Exchange token slides 7.7% in a steady decline

Jupiter Exchange token slides 7.7% in a steady Thursday decline

Jupiter Exchange ($JUP) traded at $0.3103 at 3:40 p.m. ET on Oct. 22, down 7.7% in 24 hours as most Solana tokens fell.

The quick take

Price: $JUP $0.3103, -7.7% ↓ in 24 hours (CoinGecko, 19:39 UTC).
Trigger: a broad sell-off. Solana ($SOL) fell 4.5% and Bitcoin ($BTC) 3.7% over the same 24 hours.
Watch: the 24-hour low of $0.3052 and whether $JUP keeps moving with the wider market.

What happened

The Jupiter Exchange token slides 7.7% in 24 hours. Jupiter Exchange ($JUP) traded at $0.3103 at 3:40 p.m. ET on Thursday, Oct. 22, according to CoinGecko. Jupiter’s own price feed showed $0.3101, a gap of 0.07%.

The 24-hour range ran from a high of $0.3335 to a low of $0.3052. The slide was slow and steady. On Binance’s JUP/USDT pair, hourly closes fell from $0.3349 at 3 p.m. ET Wednesday to $0.3057 at 2 p.m. ET Thursday, with only small bounces along the way.

The longer view is calmer. $JUP is down 0.2% over seven days and up 5.0% over 30 days, per CoinGecko.

Why it moved

The drop came on a red day for most of crypto. Solana ($SOL) fell 4.5% to $103.54, per CoinGecko. LiveCoinWatch shows Bitcoin ($BTC) down 3.7% at $81,304 and Ether ($ETH) down 4.4%.

Other Solana tokens fell as hard or harder. Raydium ($RAY) lost 7.9% and Pump.fun ($PUMP) 8.2% over 24 hours, CoinGecko data show.

The one Jupiter headline of the day was a partnership. Decrypt said on Thursday it is adding Jupiter-powered token swaps to its platform, The Information Exchange. The token kept sliding after that report.

Who’s buying and selling

Trade counts look balanced. The largest $JUP pool on decentralized exchanges, JUP/SOL on Orca, logged 6,223 buys and 5,985 sells in 24 hours, according to DEX Screener. That pool held $667,416 in liquidity.

Counts do not show trade size, so they cannot say who moved the price. Across all markets, CoinGecko puts 24-hour $JUP trading volume at $67.2 million and its market value at $1.03 billion.

What to watch next

The day’s low of $0.3052 is the nearest level in the data. On Binance, the token was back at $0.3096 by 3:40 p.m. ET, a small lift from its 2 p.m. close.

The bigger question is whether $JUP keeps tracking $SOL and Bitcoin, or splits from them once the selling cools. The Decrypt swap feature is a second thread: Decrypt says it starts with a small set of major tokens and will add more Solana tokens later.

Bottom line: $JUP lost 7.7% in a slow, market-wide slide, while its weekly change stayed close to flat.

Price data: CoinGecko, cross-checked with Jupiter.