JUP

Jupiter (JUP) has a total supply of 10 billion JUP, but developers have proposed to burn 30% (3 billion) of JUP tokens, worth $2.47 billion. The burn proposal is said to be in consideration of the team allocation, with the top 10 holders holding 90% of the supply.

This scarcity could be a catalyst for JUP to break out of its bullish trend. The JUP burn news has awakened bulls, leading to an increase in price, total value locked (TVL), and trading volume on the Jupiter exchange.

Data shows that JUP’s TVL has recently increased by nearly 5%, from $395 million to $399 million. In addition, JUP’s decentralized exchange (Dex) trading volume has increased by 100% in the past few days. Meanwhile, the overall trading volume on the Jupiter exchange has also increased by 25%.

If these trends continue, JUP is likely to quickly break through $1. $BTC $ETH $SOL