Jupiter (JUP) Surges 11% After Grayscale Adds It to List of Assets Under Consideration

JUP is the most active decentralized exchange (DEX) aggregator on the Solana blockchain, and it has seen significant growth over the years.

Asset manager Grayscale, which boasts over $60 billion in AUM, has added Jupiter (JUP) to its roster of assets under consideration.

This news swiftly impacted the market, pushing JUP’s value up by 11% over the last 24 hours. At the moment, the token trades at $0.85, reflecting a 10% surge in market capitalization to $1.1 billion and a whopping 109% increase in trading volume.

Being the most active decentralized exchange (DEX) aggregator on the Solana blockchain, Jupiter (JUP) has witnessed substantial growth over the years.

Recently, Jupiter announced the extension of its Active Staking Rewards program for another year, aiming to distribute an additional 235 million JUP tokens.

According to Dune, the project has generated over $3.38 million in fees this month and attained $1.32 billion in total value locked (TVL).

Furthermore, Jupiter’s system of sharing fees with the community has made it popular within the Solana ecosystem, especially as decentralized finance (DeFi) applications gain popularity. Many anticipate JUP to rival Uniswap’s UNI.

In other news, JUP is also facilitating the listing of DeBridge's DBR tokens by offering their LFG-concentrated liquidity for the token sale. The sale is scheduled to commence on October 15, with the team aiming to distribute tokens fairly.

DeBridge has been preparing for this event for six weeks, and the platform chosen for the sale is Jupiter LFG, which will operate without a traditional bonding curve.

Instead, the funds raised will be allocated to the DeBridge protocol, ensuring greater stability. Following the token launch, 3 million USDC and 100 million DBR will be listed on the Meteora DEX on Solana at a price of $0.03 each.

Jupiter LFG will be utilizing Alpha Vault technology to prevent bots from exploiting the sale and ensuring that genuine community members acquire tokens. Unlike typical sales, Jupiter will maintain deeper liquidity to keep the DBR price close to $0.025, reducing extreme price movements.

Besides Grayscale's listing consideration, JUP will be joining other tokens like Injective Protocol (INJ), THORChain (RUNE), and Aerodrome (AERO) in the review process.

Grayscale is currently reviewing 35 other altcoins in 5 categories: Currencies, Smart Contract Platforms, Financials, Consumer & Culture, and Utilities & Services.

While JUP’s listing is still pending, the market response has been largely positive. Should Grayscale decide to include JUP in its investment products, it could enhance the token’s visibility and attract institutional investors, potentially driving its value even higher.