木星的本地令牌，木普（Jup），左持有人和堆放者的价格最近的价格动作过度。

JUP目前的交易价格为0.4360美元，已经打破了密钥支持水平，现在徘徊在历史最低点附近，比2月高点下降了近80％。

The recent price action of Jupiter’s native token, JUP, has left holders and stackers over-disappointed.

木星的原住民令牌JUP最近的价格行动使持有者和堆叠者过度分配。

After reaching a high of $2.18 in February 2024, the token has been on a downward trajectory, largely driven by a series of internal issues that have sparked frustration among the community.

在2024年2月达到2.18美元的高价之后，该令牌一直处于下降轨迹，这在很大程度上是受一系列内部问题引起了社区沮丧的驱动。

As of today, JUP is trading at $0.4359, having broken key support levels and now hovers close to all-time lows. The token is down nearly 80% from its February highs, a decline that has triggered frustration and doubt among Jupiter traders.

截至今天，JUP的交易价格为0.4359美元，关键支持水平破裂，现在徘徊在历史最低低点。该令牌比2月的高点下降了近80％，这一下降引发了木星交易者的沮丧和怀疑。

Many believe that internal factors, not just broader market conditions, are to blame for JUP’s poor performance.

许多人认为，内部因素，不仅是更广泛的市场状况，还应归咎于JUP的表现不佳。

Jupiter Exchange, recognized as one of the best decentralized finance (DeFi) products built on Solana, is facing growing criticism from the community. While its tech and trading infrastructure remain top-tier, many believe the team’s recent executive decisions have caused unnecessary fear, uncertainty, and doubt (FUD) and put additional downward pressure on the token.

木星交易所被公认为是建立在索拉纳（Solana）的最佳分散金融（DEFI）产品之一，正面临着社区日益增长的批评。尽管其技术和交易基础设施仍然是顶级阶层，但许多人认为该团队最近的执行决定引起了不必要的恐惧，不确定性和怀疑（FUD），并对代币施加了额外的下降压力。

Long-term supporters of the project argue that mismanagement, questionable valuation strategies, and poor communication with the community have driven sentiment to new lows.

该项目的长期支持者认为，管理不善，可疑的估值策略和与社区的沟通不良已将情感推向了新的低点。

“It’s clear that we’ve reached a critical juncture. We need the team to take immediate action to reduce emissions, introduce more flexible staking models, perhaps consider rev-share buybacks, and maybe even look into liquid staking options,” said one member of the Jupiter community.

木星社区的一位成员说：“很明显，我们已经达到了一个关键的关头。我们需要立即采取行动来减少排放，引入更灵活的堆放模型，也许考虑转share回购，甚至可以研究液体储存选择。”

Another community member added: “If PumpSwap pulls enough liquidity and users, it could easily kill off Jupiter completely. We’re already seeing a shift in trader activity.”

另一位社区成员补充说：“如果Pumpswap吸引了足够的流动性和用户，它很容易完全杀死木星。我们已经看到交易者活动发生了变化。”

Pumpswap is a new decentralized exchange (DEX) developed by Pump.Fun, a blockchain startup focused on developing engaging Web3 products.

PumpSwap是由Pump.Fun开发的新的分散交易所（DEX），该公司是一家专注于开发引人入胜的Web3产品的区块链初创企业。

Announced earlier this month, PumpSwap aims to provide a user-friendly platform with competitive rates and a strong emphasis on community engagement. The project claims to offer the highest yields among DEXs and plans to achieve this through efficient capital allocation and a unique revenue-sharing model with its users.

PumpSwap宣布，旨在提供一个具有竞争力的用户友好平台，并强烈强调社区参与。该项目声称，在DEX中提供最高收益率，并计划通过有效的资本分配以及与用户的独特收入分享模型来实现这一目标。

To attract new users, PumpSwap will employ a multi-pronged approach that includes engaging social media campaigns, partnerships with prominent crypto influencers, and a focused content marketing strategy. The goal is to build a strong online presence and generate buzz around the platform.

为了吸引新用户，PumpSwap将采用多管齐下的方法，其中包括吸引社交媒体活动，与著名的加密影响者的合作伙伴关系以及集中的内容营销策略。目的是建立强大的在线形象，并在平台周围引起嗡嗡声。

In addition to its new DEX, Pump.Fun is also developing other products to enhance the overall Web3 experience. These products include a decentralized application (DApp) store, a multi-chain wallet, and a comprehensive crypto news and analysis platform.

除了新的DEX外，pump.Fun还开发了其他产品，以增强整体Web3体验。这些产品包括分散的应用程序（DAPP）商店，一个多链钱包以及全面的加密新闻和分析平台。

The startup has secured $10 million in funding from a group of leading venture capitalists to develop its products and expand its operations.

这家初创公司已从一群领先的风险投资家中获得了1000万美元的资金，以开发其产品并扩大其运营。

Despite the challenges, some investors remain optimistic about JUP’s prospects. They argue that the token’s price action is closely linked to the overall performance of Solana. Once the broader market turns bullish, and Solana begins to outperform other blockchains, JUP could bounce back quickly.

尽管面临挑战，但一些投资者仍然对JUP的前景保持乐观。他们认为，令牌的价格行动与Solana的整体表现紧密相关。一旦更广泛的市场变成看涨，索拉纳开始胜过其他区块链，JUP就可以迅速反弹。

However, there are other concerns that could continue to weigh on JUP even if the broader market turns in favor of Solana.

但是，即使更广泛的市场转向Solana，还有其他问题可能会继续对JUP进行权衡。

Some analysts believe that JUP has been in a structural downtrend not only against USDT but also when paired with SOL, losing value consistently over time.

一些分析人士认为，JUP不仅处于与USDT的结构下降趋势，而且与SOL配对时，随着时间的流逝，价值始终如一地失去价值。

Moreover, with additional token unlocks and incentive drops expected in the coming months, fears of rapid dilution and ongoing price suppression are persisting among traders.

此外，随着未来几个月预计的其他令牌解锁和激励下降，交易者的担心会持续稀释和持续的价格抑制。

As the project heads into the second half of 2024, the fate of Jupiter now largely depends on how quickly the team can respond to the community’s concerns and restore confidence in the project’s tokenomics.

随着该项目进入2024年下半年，木星的命运现在在很大程度上取决于团队能够对社区的担忧做出的速度以及恢复对项目的标记学的信心。