With back-to-back developments in ecosystems and working mechanisms, several cryptocurrencies have succeeded in reaching a new height in terms of trading volume. 

Since the past few weeks the trading prices of JUP, the native token of Jupiter, have been enjoying highs and when writing it was exchanging hands at $1.20 with a surge of 11.20 percent in the past 24 hours.  

According to data from CoinMarketCap the market capitalization of JUP has reached $2.02 billion with a surge of 11.01 percent and its recorded trading volume is $997.81 million. Per the additional data, its highest recorded trading price was $2.04 recorded on January 31 in the last year.  

Source: TradingView 

It is worth noting that JUP prices succeeded in breaking its 50 and 100-day exponential moving averages.  

Reason fueling Jupiter’s prices 

As per experts the back-to-back development and expansion of its ecosystem and services are fueling the prices of JUP tokens; earlier on January 26, 2025, Todayq reported that Solana-based Jupiter has announced the buying of major stakes in Moonshot, a recently debuted software that gathered huge popularity after the launch of Official Trump. 

It is crucial to note that during a conference in Turkey, Jupiter has announced its plan to develop an in-house multi-blockchain network, the move to launch its blockchain has backed the bullishness and buyer pressure in the past few sessions. 

The yet-to-be-launch multi-blockchain network will be named as ‘Jupnet’ which aims to aggregate all of the crypto in a one decentralized ledger to reduce the problems faced by users and developers while using.  

The available data notes that to reduce emissions and its fully diluted valuation (FDV), Jupiter intends to burn 3 billion JUP tokens valued at over $3 billion till writing.