Jupiter has officially launched its first chanting token buyback, which confirmed the on-chain data that the price of 4.88 million chanting has already been reinforced by $ 3.33 million.
On 26 February, the buyback was informed by the popular on-chain analyst AI, who flagged off the Jupiter (chanting) litterbox addresses used for all buyback transactions. The buyback is the first step of Jupiter’s major strategy with 50% protocol fees.
Jupiter(@JupiterExchange) 已开启针对 $JUP 的首次回购💫
过去 17 小时已以均价 $0.683 回购 4,885,370 枚 JUP，总价值 333 万美金；所有回购交易都是通过 Jupiter: Litterbox 地址在链上进行的，目前回购仍在进行中
回购地址 https://t.co/lKWOX27pQa https://t.co/1nfZ1slLsP pic.twitter.com/xkoElpjIfR
— Ai 姨 (@ai_9684xtpa) February 26, 2025
The buyback initiative, which was unveiled on 13 February, intends to reduce the number of tokens in circulation by locking the reproach tokens for three years and causing frequent purchase pressure. The Cryptocurrency community has welcomed the move, seen it as a pure positive that will promote demand and prevent chanting from becoming a “value trap”.
Based on its $ 102 million revenue in 2024, this year is estimated to spend about $ 50 million on chanting buybacks. These will represent about 2.7% of market capitalization of $ 1.8 billion of bucket chanting.
Jupiter has continued its place as Solana’s top dex aggregator. Protocol produces fees by directing trades between many DEX, such as radium and orca, and ensures that traders receive the best exchange rates. In the previous year, Jupiter’s revenue has increased considerably as a result of Memcoin trading frenzy over Solana.
Jupiter Purps Trading Platform, which is more than 80% of Solan’s evergreen decentralized exchange market, has been another significant contributor to Jupiter’s revenue growth. In 2024, revenue increased from $ 3 million in January to $ 21 million in December, according to which But-Chain Analyst AI 姨.
About 40%of Jupiter’s total revenue for the year, or $ 35.86 million, came from fees during important trading periods including spikes in Trump Memcoin Trading.
Jupiter’s buyback initiative corresponds to a large DEFI trend in which protocols such as AAVE (AAVE) and Ethena (ENA) are applied to token price-durious methods. Although long -term effects cannot be seen yet, the buyback initiative shows increasing emphasis on aligning the token hearing with protocol growth.
