In the midst of a bloody beginning of the week in cryptographic markets, which saw liquidations near the monthly maximums, since several important tokens fell by two -digit percentages, the native token of the aggregator Dex based in Solana Jupiter is challenging the trend About a new repurchase plan.
TrainingView data show that JUP has increased more than 34% against Bitcoin during the past week despite seeing a 11% decrease in the last 24 hours, compared to the fall of BTC about 4%.
The upper YP performance is the result of a series of ads made during its first event, Catstanbul 2025, which addressed public services concerns. The pseudonym founder of the protocol, known as ‘Meow’, revealed that 50% of all protocol rates will be used to buy tokens in the open market, and the tokens move to a “long -term sand box” long term. reserve.
The measure led to a price increase, which demonstrated a “high level of confidence in the projects in the project and its strategy,” according to Bitget Research chief analyst Ryan Lee. He said that increasing attention on the platform could attract new users and liquidity to the long -term solana ecosystem.
In a statement to Coindesk, Lee said the repurchase program could “act as a catalyst for long -term growth, since the equipment estimates that it could add hundreds of millions of dollars to the repurchase volume per year.”
Jupiter is the LEADER SOLANA DEX aggregator, which has facilitated almost $ 2.2 billion in total volume over 1.25 billion swaps token, according to Dune Analytics data. In the last 24 hours, its negotiation volume was $ 6.5 billion in 6.9 million exchanges.
‘Monopolistic behavior’
The announcement may have helped JUP prices increase, but caused some community concerns.
Chris Chung, the founder of the Solana Titan exchange platform, wrote in a statement sent by email to COINDESK that the “news during the weekend that Jupiter, the most used dex of Solana, is implementing a 5 rate of 5 PBS for basic exchange operations in its predetermined ‘ultra’ mode is disappointing news for merchants. “
Jupiter’s ultra mode includes characteristics such as real -time slip estimation, dynamic priority rates and optimized transactions landing, all reinforced by a new safety tool “Jupiter Shield”. The success of the protocol, Lee de Bitget Research, told Coindesk, “can come with the risk of centralization.”
“If Jupiter continues to increase his influence and becomes the dominant player in the Solana ecosystem, he could lead to the excessive dependence of a single project,” Lee said, adding that “the situation is contrary to the principles of blockchain that are aimed at decentralization and distribution of influence. “
Chung added that the “sole value proposal is a lower and higher cost at all times, and an increase of 5-10 bp in commercial costs is significant in this context. But it is particularly disappointing when a model is implemented Pay when there is no perceptible performance gain on the previous free version, especially when the characteristics in question are essential in landing transactions. “
Jupiter also announced that he acquired a majority participation in Monshot, the memecoin trade platform that appeared on the Memecoin website of the president of the United States, Donald Trump, and, according to the reports, “he brought more than 200k people in the chain in the chain “As a result.
The protocol has also acquired the Sonarwatch chain portfolio tracker, which together with the acquisition of lunarshot means, for Chung, that Jupiter “is clearly looking to dominate the entire solana ecosystem”, in a movement that is “unhealthy and harmful to Innovation and innovation and for innovation and for user experience. “
For the founder of Titan, Jupiter’s movements are equivalent to “monopolistic behavior” that allows holders “to increase prices increasingly in the absence of competition”, the type of behavior that decentralized finances were intended to eradicate.
As these concerns advance, Jupiter also announced the Jupnet launch, described as an omnichain network designed “to add all cryptography in a single decentralized accounting book for the maximum ease of use for users and developers.” Its public beta version will arrive in the coming months.
Although Dex’s aggregate domain may have caused concerns about the possible concentration of power in the hands of a single player, it could have a positive side. Jupiter’s approach in the Solana ecosystem could lead to a new wave of developers who get involved with him and to create new and unique products, Lee de Bitget added.
Mike Cahill, co -founder and CEO of the Pyth Network main collaborator, Douuro Labs, said Jupiter’s movements as a “clear commitment to expand the defi infrastructure and improve liquidity dynamics.” The innovation approach, he added, could “boost a new influx of builders to the Solana ecosystem, which means that we are going to see many new memecoras and many new DAPPs as a result.”
Jupiter did not respond to the request for comments from Coindesk at the time of publication.
