Jupiter has emerged as the shiny new start in the DeFi ecosystem on Solana. It’s not exactly a classical DEX as Uniswap, but its more as a DEX aggregator pulling liquidity from different apps and DEXs. It integrating different aspects of DeFi and at the same time building some features of its own like individual pools etc.
The Jupiter app had a form of soft launch back in the summer of 2023, while it really took off in January 2024 with the launch of its native token JUP. There was an airdrop for the token as well.
Here we will be looking at:
- Trading volume
- Total value locked
- Number of users
- Top exchanges
- Top Pairs and pool providers
- Price
The data is taken from places like the official Jupiter stats, Defi Lama, Dune Analytics, Coingecko etc.
Trading Volume
Trading volume is extremely important. That is where the fees come from and the APR for liquidity providers. No trading volume means no fees and no capital in the protocol.
The chart for the trading volume looks like this.
This is a chart for the daily trading volume. It’s quite volatile.
Prior to December 2023 the trading volume was quite low on Jupiter and then it increased a lot in December reaching one billion per day. A small pull back and a growth again in March 2024 up to 2B daily.
A pullback in the summer of 2024 and a spike again in the last months and days, reaching a new heights of 3.5B.
Quite an impressive year for Jupiter.
On a monthly basis the chart looks like this:
Here we can notice the increase in December 2023 up to 15B per month, then another leg up in March 2024 to almost 40B per month. A drop in the summer to under 10B and a growth again in October 2024 to almost 30B.
November is not over yet, but most likely will go much higher and probably reach another ATH.
Total Value Locked
Here is the chart for the TVL on Jupiter
When it comes to Jupiter the TVL is sort of side metric since it doesn’t include the pools that it integrates from other protocols.
It has some own liquidity though and as we can see it is at 2.5B now.
Active Users
How many users does Uniswap have? Here is the chart.
A constant growth in terms of active accounts here.
A peak up to 400k users back in May 2024, then a drop to 100k in the summer and a growth again in the last period at one point reaching 600k DAUs.
Because of the low fees on Solana we can assume a lot of these accounts are bots, but still the numbers remain high and the trend is up. On a monthly basis the numbers are in the millions MAUs.
Top Exchanges
If we take a look at the data for the trading volume on the other exchanges provided by some of the aggregators like Coingecko the numbers looks like this.
This ranking combines both, CEXs (centralized exchanges) and DEXs.
We can see that Jupiter is now in the top 10 exchanges in the world by trading volume that is quite an achievement having in mind the short period of time it has been operating in. It has 3.5B daily trading volume.
There are few more DEXs that are in the top exchanges like Uniswap and Raydium, another Solana exchange.
Top Trading Pairs on Jupiter
Here is the chart for the top trading pairs ranked by liquidity.
The USDC-SOL is on the first spot here with 2.5B trading volume in the last week.
After this trading pair there is a sharp drop to around 1B with the stablecoin pair USDC-USDT. Next is another stablecoin to SOL pair SOL-USDT.
Some meme coins in the top like Pnut, WIF etc.
In terms of liquidity pools providers the chart looks like this:
The Raydium DEX is on the top followed by Orca and then Meteora. Jupiter aggregates all the pools from these exchanges providing users a great experience.
Price
The chart for the JUP price looks like this.
As mentioned JUP is newly launched token starting from January 2024. It started trading around 0.6, then increased to 1.6 USD dropped and sort of stabilized around $0.8. An increase in the last period to 1.2 USD again. In terms of market cap, the valuation is at 1.5B now.
All the best
@dalz
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Solana is undoubtedly one of the fastest growing blockchains with the best rates.
jupiter is a project with great ambitions in my opinion
!PIZZA
$PIZZA slices delivered:
@danzocal(1/10) tipped @dalz
The overall trend is upwards 👍
Your level lowered and you are now a Dolphin!
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