Today, Jupiter (JUP) is riding high on the optimism around its possible listing on the Binance platform, sending it into a massive bull market. According to CoinMarketCap statistics, the coin has increased by 158% in the last day to $0.02054 at the time of writing. Jupiter has produced a 336% increase in its trade volume, totaling $5,421,130, for such a young token.
Jupiter is a blockchain-based decentralised exchange aggregator that runs on Solana. Recent developments with the protocol have highlighted the tremendous interest that has been generated in advance of the listing on Binance, which is scheduled for January 31 by 12:30 p.m. UTC. The trading giant said that it will publish new spot trading pairs that are based on JUP, including as JUP/TRY, JUP/FDUSD, and JUP/USDT.
One billion JUP of the 1.35 billion JUP total circulating quantity of the digital currency was set aside for airdrops when it first reached the trading market. The remaining tokens were set aside for associated operational improvements such as team assistance and liquidity availability.
After years of trading as the underdog, the Solana blockchain reached its zenith when Jupiter arrived, falling from its ATH score of $260.06. This notion is supported by Jupiter’s enormous upswing and significant price discovery.
Binance influence at play again
With the listing of tokens, Binance plays a vital role in the cryptocurrency ecosystem. Jupiter will undoubtedly become heavily exposed to the biggest traders in the market thanks to its millions of monthly active users, and an increase in volume might quickly change the asset’s general composition.
In an effort to strengthen its total supported asset base, Binance has listed a number of tokens within the last several months. It is a highly regulated market that often delists assets due to subpar performance.
