The Jupiter Token (JUP) a Solana based token pumps by approximately 40% following an announcement of token buy-backs and burns. Jupiter’s founder, Meow, announced that the platform would use 50% of its protocol fee revenue to buy back JUP tokens from the market.
Jupiter will hold these repurchased tokens in a “long-term litterbox.” This strategy is designed to provide long-term benefits rather than immediate sell-offs following news announcements. Additionally, there was a plan to burn 3 billion JUP tokens, which was part of Jupiter’s strategy to reduce the total supply of tokens. Jupiter burns are planned to create scarcity just like SHIB did last cycle.
Jupiter’s token buy-back strategy fueled a 40% price pumps, learn the details of the best $15M Solana L2.
JUP has a total supply cap set at 10 billion tokens. At its launch, the distribution plan allocated 50% to the community while the Jupiter team managed the other 50%. Out of the team’s portion, 20% is for current team members with a vesting schedule, 20% for a strategic reserve, and 10% for liquidity provision.
Jupiter offers a suite of DeFi products including limit orders, dollar-cost averaging (DCA), bridge comparator, and perpetual futures trading. It also introduced JupSOL, a high-yield Liquid Staking Token (LST) on Solana.
As of the latest data, JUP’s price is around $0.98, with a 24-hour trading volume of approximately $1.58B. Jupiter has a market cap of around $1.69 billion, with a circulating supply of about 1.69 billion tokens.
Meow announced that the platform would use 50% of its protocol fee revenue to buy back JUP tokens from the market. With this Jupiter’s buy-back, Meow and his “litter box” help the Jupiter team to control tokens and defends JUP’s floor and use these bought-back token strategically.
Jupiter will buy back its tokens using 50% of its protocol fee revenue. These repurchased tokens will then be stored in a “long-term litterbox.”
Following the announcement, the price of JUP pumped from around $0.90 to about $1.27 before a slight retracement. The market’s positive sentiment toward the buy-back and burn strategy caused this spike.
Burnt pic.twitter.com/gvAlAq7bH1
— meow (🐱, 🐐) (@weremeow) January 26, 2025
Weekends generally see lower trading volumes across the crypto markets. Nevertheless, with some bullish news like burns, sentiment will shift and lead to pumps.
Jupiter, being one of the leading decentralized exchange (DEX) aggregators on the Solana, has been expanding its cappabilities, including perpetual futures. The Jupiter’s ‘Catstanbul 2025’ event incorporates this “litter box” strategy among other major announcements, strenghtening Jupiter in Solana ecosystem.
Jupiter Is Just A DEX, SOLAXY Scalling Solana L2 with $15 Million Raised
Solaxy (SOLX), the first Layer-2 on Solana, has achieved a remarkable milestone by raising more than $15 million in its presale. It’s a testament to significant community interest and belief in its potential.
SOLX tokens are currently priced at $0.001616 each with a current APY of 257%. This Solana layer-2 solution, SOLX, tackles scalability issues like network congestion with a groundbreaking approach.
YouTuber ClayBro, with nearly 20,000 followers on social media platforms has some bullish says about SOLX. Claybro predicts Solaxy will go beyong 10X on its launch.
Invest in SOLAXY today while it’s still in presale. Enjoy the perks of being an early buyer right before it goes public. Mostly, those who buy during the presale get the tokens at the cheapest rates.
For the latest updates on the project, connect with the SOLX community on X and Telegram
Visit the SOLX presale website.
EXPLORE: Who is Mark Uyeda? New SEC Chief Could Spark a Crypto Golden Age
Join The 99Bitcoins News Discord Here For The Latest Market Updates
Why you can trust 99Bitcoins
Established in 2013, 99Bitcoin’s team members have been crypto experts since Bitcoin’s Early days.
Weekly Research
100k+Monthly readers
Expert contributors
2000+Crypto Projects Reviewed
