Trading engine slows down? Jupiter still has advantages in Solana ecosystem

At present, the Solana ecosystem is experiencing a "bleeding" crisis triggered by the Libra coin issuance scandal.

Author: Nancy, PANews

At present, the Solana ecosystem is encountering a “bleeding” crisis triggered by the Libra coin issuance scandal. The double blow of liquidity loss and market confidence has exacerbated the challenges within the ecosystem.

As a star project in the Solana ecosystem, Jupiter once played a core role with its ultra-high liquidity share. However, the involvement of the Libra scandal and the overall ecological crisis have plunged it into a quagmire.

Despite this, Jupiter has recently been trying to send a signal to the outside world that it can break through the headwind.

Traders prefer short-termism while Jupiter focuses on long-termism

According to statistics from blockchain data platform Artemis, Jupiter's daily trading volume has dropped sharply from a peak of $2.9 billion in mid-January to $1.2 billion as of March 3, showing a decline of 58.6%.

During the same period, Solana's overall daily active addresses fell by about 48.1%, which also shows that Jupiter's decline is synchronized with the overall ecological environment.

The change in the number of daily active addresses also reveals the decline in community participation. On January 20 of this year, Jupiter's active addresses hit a new high of 1.2 million, highlighting its user participation boom at the time. However, as of March 3, this number has dropped sharply to 394,000, a drop of 67.2%.

The weakness in trading activity directly affected Jupiter's revenue performance. Artemis data showed that its aggregator's daily revenue fell 83.3% from a peak of $1.3 million to only $216,000 as of March 3.

However, from the perspective of ecological weight, Jupiter's daily trading volume accounts for 11.6% of Solana's total, a slight increase from the peak of 10.4% in January. But Jupiter's daily active address share has dropped by 36.5% from the peak, accounting for 9.4% of Solana as of March 3.

From the perspective of ecological ranking, according to Artemis data, since 2025, Jupiter has been ranked second in the Solana ecosystem with a daily transaction volume of US$260 million, second only to Raydium; the number of daily active addresses is 572,000, ranking third; and the gas fee consumption contributed US$45.7 million, ranking second.

In addition, the official website shows that the total staked amount of JUP exceeds 580 million, accounting for more than 21.5% of the circulation, which also reflects the community's continued participation in JUP DAO governance, or providing a short-term selling pressure buffer for the token.

Recently, Jupiter has responded with a variety of strategies to the slowdown of the Solana ecosystem and the Libra turmoil.

In recent times, it has announced a multi-pronged layout including acquisition expansion, token economic adjustment and transparent governance, in an effort to regain market trust.

In terms of ecological expansion, Jupiter has made a number of recruitments and acquisitions in the past year, including the majority acquisition of Sonarwatch and full acquisition of Moonshot in recent months, and is currently conducting two unannounced acquisitions to enhance the team and the capabilities of the three pillar platforms Jup.ag, Jupiverse and Jupnet. The acquisition funds will be paid by the treasury.

In terms of token value empowerment, Jupiter recently announced that an independent third party will conduct a comprehensive audit of the founders, Jupiter Treasury, Meteora Treasury and JUP tokens; at the same time, Jupiter established the Litterbox Trust, which is managed by an independent third party and has begun operations. In the next two years, it will receive 50% of the protocol's income for strategic accumulation of JUP, aiming to enhance the long-term stability of tokens. Officials said that this move does not involve short-term gains, but is a layout for the long-term development of the ecosystem and community.

Moreover, Meow recently proposed the "2030 Proposal", planning to use his 280 million personal JUP tokens for team incentives and receive 500 million JUP as compensation in 2030. The proposal still needs to be decided by the community vote.

Jupiter also recently announced the launch of the "GOAT Framework", which aims to make JUP the best token in the crypto industry and establish its position as a long-term token through four core dimensions: governance (including 30% supply destruction, "Jupuary" activities and working group budget adjustments and other key decisions), organicity (emphasizing the rejection of backroom deals, KOL promotion or market manipulation), consistency (