Jupiter Strengthens Crypto Position
On January 25, 2025, Jupiter announced several key developments to strengthen its position in the crypto market. They acquired a majority stake in Moonshot, a memecoin launchpad known for successful political-themed tokens. During the Catstanbul conference, Jupiter introduced Jupnet, an omnichannel network that connects multiple blockchains, allowing users to manage transactions from one account.
New Initiatives and User Experience Enhancements
Additionally, they established a $10 million open-source project fund with Eliza Labs in support of AI technology. They launched a buyback program with 50% of the fees taken from the platform and intend to burn 3 billion JUP tokens to enhance the value. They also introduced the beta version of their newly designed user interface called "V2," with improved transaction prediction and dynamic fees to enhance user experience.
Whale Activity and Market Trends
This month, whales have been extremely active around Jupiter (JUP), with close to 40 whales holding over $10 million in JUP tokens, hence controlling 94% of the total supply. Such a concentration indicates strong confidence among large investors in the Jupiter blockchain. Besides, an airdrop of 612 million JUP tokens that started on January 24, 2025, has increased more interest among both regular and institutional investors. The goal of the airdrop was to encourage decentralization by further spreading tokens, thus potentially reducing whales' power with time.".
JUPUSD surged more than 30% in this month. It holds above the short-term (21 and 55 EMA) and above the long-term moving average. It hit a high of $1.2440 at the time of writing and is currently trading around $1.2345.
The bullish invalidation can happen if the pair closes below $0.40. On the lower side, the near-term support is $0.750. Any break below targets $0.650/$0.50. Any breach below $0.40 targets $0.20.
The pair's near-term resistance is around $1.25. Any breach above confirms minor bullishness. A jump to $1.50/$1.890 is possible. A surge past $1.89 will take it to $2.25/$2.50.
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It is good to buy on dips around $1 with SL around $0.70 for TP of $2.