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Which crypto will $JUP outperform by June 30, 2025?
3
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Story
Jupiter Exchange to Burn 3 Billion $JUP Tokens, Price Surges 30% to $1.20 After Buyback Announcement
Jan 26, 2025, 12:45 PM
Jupiter Exchange has announced a significant policy change, allocating 50% of its protocol fees to buy back its native token, $JUP. This move is intended to reduce the circulating supply of $JUP tokens, with plans to burn 3 billion JUP tokens at Catstanbul, bringing the total supply down to 7 billion. The decision comes as Jupiter Exchange reports substantial revenue, with monthly volumes averaging $110 billion. The buyback program, funded by a 0.05% fee on all Ultra swaps, is expected to have a considerable impact on the token's value, as evidenced by a 30% surge in $JUP's price to $1.20 following the announcement. The repurchased tokens will be held in a long-term strategic reserve.
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