Jupiter's native token, JUP, experienced a significant price surge on Monday, jumping as much as 18% during U.S. Memorial Day trading before settling at a 4% daily gain. This rally was driven by a combination of factors including Jupiter's announcement of an upcoming lending product launch, a revival in the meme coin market, and Bitcoin's breakout above $109,000.
The new lending platform, Jupiter Lend, is scheduled to launch in summer 2025 and will offer loan-to-value ratios up to 90% and fees as low as 0.1%, surpassing average crypto lending protocols. Jupiter is the second-largest decentralized exchange (DEX) aggregator by volume on the Solana blockchain, processing over $1 billion in daily trades and holding more than a third of the aggregator market share. It is second only to 1inch in market dominance.
Technical analysis indicates that JUP is approaching its 200-day exponential moving average (~$0.67). A potential "golden cross"—when the 21-day EMA crosses above the 200-day EMA—could propel the price toward $1. Historical occurrences of this pattern on JUP have produced mixed results, but the current market momentum alongside Solana's total value locked nearly doubling to $20 billion supports positive sentiment.
Market analysts attribute the rally to multiple converging influences rather than a single catalyst, including the Huma Finance token sale where Jupiter staking is rewarded, and broader signs of recovery in the meme coin ecosystem. Additionally, Bitcoin’s rally to new highs has buoyed overall market sentiment, supporting mid-cap tokens like JUP. Industry experts highlight that Jupiter's strong fundamentals and expanding DeFi activity on Solana underpin this upward trend, distinguishing it from past meme-driven hype cycles.