The distinguished Jupiter has recovered to its highest levels in months, as merchants interact with the next launch of the decentralized lending platform.
Deca -based Jupiter DEFI (JuP) has returned to the spotlight. On Monday, May 26, Jupiter received 15 % trading in 24 hours. Trading at $ 0.61, the distinctive symbol recovered to the levels that were last seen in March, when the traders’ reaction to the protocol expansion plans.
The main catalyst behind the JUP rise is the expected launch of Jupiter Lind, a decentralized lending platform that is scheduled to walk live in the summer of 2025. It was announced on Thursday, May 22, the platform aims to become the “most advanced money market in Solana”.
According to the protocol, Jupiter Lind will provide a loan to a value of up to 90 %, which is much higher than 75 % provided by most of the encryption lending platforms. The platform fee is expected to be low to 0.1 %.
Jupiter rises on Defi’s growth on Solana
As the largest DAPP on Solana, Jupiter Dex benefits greatly from the ecosystem in Solana (SOL). It is worth noting, by July, 42 % of all Solana Dex transactions are directed through Jupiter. At the same time, the platform contains 95 % of the Dex Agregator market share.
For this reason, the latest increase in Solana Defi scales contributed to the growth of Jupiter. Specifically, the value of all Memecoins on Solana was $ 14 billion, which is much higher than the lowest level in July $ 6 million.
Solana network activity is also accelerating. Weekly transactions increased by 7.3 % to 462.5 million, while active headlines increased from 34.7 million. It is worth noting that Solana is now dealing with more weekly transactions than all other chains combined. In terms of active headlines, it leads to a wide margin, with a base in second place at 9.2 million.
