Saturday, July 13, 2024
HomeCryptoJupiter ($JUP) Sets its Sights on a New All-Time High

Jupiter ($JUP) Sets its Sights on a New All-Time High

Hey there, crypto fans. Ready for some trading excitement? Look no further because Jupiter Exchange ($JUP) is here to make your dreams come true! We keep things light, easy, and super fun!

We have been closely monitoring $JUP since their last airdrop. And here is what happened.

Jupiter Update

Recently, the Bitcoin market got a bit wild, causing a little chaos at Jupiter. But fear not, your funds are safe with us! Their founder, Meow, is on the case, working to make things right for the users.

The perpetual futures exchange is back up and running smoothly after a brief hiccup. Crazy demand? Yep, that’s just how much demand there is on Jupiter! And hey, Bitcoin took us all on a wild ride, but that’s crypto for you!

There was a bit of congestion in our oracles, but they seem to have been solved and open for trading.

$JUP Price Action

After the airdrop in January, we witnessed the classic airdrop dip. People receive free money and are inclined to take some profits immediately.

However, when Bitcoin was nearing its previous all-time high, the price of $JUP started following.

As you can see, the price action opened in January around $065, with a wick to $0.75. The airdrop dip caused the price to go as low as $0.46 end of February.

Today we’re back at $0.70 and will start testing new highs.

You can Buy/Sell/Trade $JUP on Bybit

Where will it end? I am currently holding 10,000 $JUP myself. I got 3200 from the airdrop and bought the remaining at the $0.50 level. When a fairly new coin goes into “price discovery” in a bull market, it can be very volatile, in a good way. Therefore, I will hold it and enjoy the ride a little.

When Uniswap $UNI dropped in 2020, the price was 15x’d after the recovery from the initial airdrop dip.

In this case, I bought the coin spot. In volatile situations, with a high probability of upside, I prefer to buy spot. Just to make sure I do not hit a SL on a big red candle. As always, no financial advice etc. You do what is right for your wallet.

Jupiter Airdrops

The users of Jupiter have been blessed with some recent Airdrop news. Wormhole, used the DEX as a criteria to receive a $WORM airdrop for Jupiter users. Go check if you’re eligible here.

Furthermore, Jupiter has a second airdrop coming in January 2025. All volume on the DEX will count towards it.

Final Thoughts

Despite a few bumps, Jupiter Exchange is still your go-to spot for all things crypto on Solana. It’s perfect to degen your favorite Sol meme coins on, like $BONK & $WIF.

If you enjoy our content, you can support us by signing up for a Bybit Account with our referral link. Don’t forget to claim your bonuses if you buy/sell or trade crypto.

You might also like our recent trading blogs about meme coin prizes and $SOL


Most Popular