As traders anticipate the imminent introduction of a decentralized lending platform, Jupiter token experienced its most significant surge in months
Jupiter (JUP), a DeFi protocol based in Solana, has regained prominence. The trading of Jupiter tokens experienced a 15% increase in the previous 24 hours on Monday, May 26. The token’s value rebounded to the levels last observed in March, trading at $0.61, as traders responded to the protocol’s expansion plans.
The anticipated launch of Jupiter Lend, a decentralized lending platform, is the primary driver of JUP’s growth. Jupiter Lend is scheduled to go live in the summer of 2025. The platform aims to establish itself as “the most advanced money market on Solana,” as disclosed on Thursday, May 22.
According to the protocol, Jupiter Lend will offer a loan-to-value ratio of up to 90%, considerably higher than the 75% of most crypto lending platforms. Platform fees are anticipated to be as low as 0.1%.
Jupiter rises on DeFi growth on Solana
Jupiter DEX aggregator, the most prominent dApp on Solana, derives substantial advantages from the expanding ecosystem of Solana (SOL).
It is important to note that Jupiter represents 42% of all Solana DEX transactions by July. Simultaneously, the platform controls 95% of the DEX aggregator market share.
As a result, Jupiter’s expansion was also influenced by the most recent upgrade in Solana’s DeFi metrics. In particular, the value of all meme coins on Solana has surpassed $14 billion, a significant increase from the $6 million minimum reached in July.
However, Solana’s network activity is also increasing. Weekly transactions increased 7.3% to 462.5 million, and active addresses surpassed 34.7 million.
It is important to note that Solana now processes a greater number of weekly transactions than all other chains combined. It is the clear leader regarding active addresses, with Base in second place at 9.2 million.
