The Jupiter token was driven back to its highest point in months as a response was triggered among traders by the anticipation of an upcoming decentralized lending platform launch.
The Solana-based DeFi protocol Jupiter (JUP) has been brought back into focus. On Monday, May 26, a 15% increase in the token’s value was recorded within 24 hours. Trading at $0.61, the token returned to price levels last observed in March, as positive market response was generated by news of the protocol’s forthcoming expansion plans.
The main driver of JUP’s recent surge has been identified as the upcoming launch of Jupiter Lend, a decentralized lending platform expected to debut in the summer of 2025. Revealed on Thursday, May 22, the platform has been described as aiming to establish itself as “the most advanced money market on Solana.”
As stated by the protocol, Jupiter Lend is projected to provide a loan-to-value (LTV) ratio of up to 90%, notably exceeding the 75% typically seen on most cryptocurrency lending platforms. Transaction fees on the platform are anticipated to be set as low as 0.1%.
Jupiter Climbs Amid Surging DeFi Activity on Solana
Recognized as the largest decentralized application (dApp) on Solana, the Jupiter DEX aggregator has been significantly bolstered by the continued expansion of the Solana (SOL) ecosystem. By July, it was reported that 42% of all Solana DEX transactions were being routed through Jupiter, while the platform commanded an impressive 95% share of the DEX aggregator market.
Due to this, the recent rise in Solana’s DeFi metrics has been seen as a contributing factor to Jupiter’s upward momentum. In particular, the total value of memecoins on the Solana network has surged to $14 billion, marking a substantial increase from the $6 million low recorded in July.
An acceleration in Solana’s network activity has also been observed. A 7.3% increase pushed weekly transactions to 462.5 million, while the number of active addresses surpassed 34.7 million. Remarkably, Solana is now processing more weekly transactions than all other blockchains combined. In terms of active address count, it maintains a commanding lead, with Base ranking second at 9.2 million.
