{"id":70214,"date":"2024-01-29T20:35:20","date_gmt":"2024-01-30T00:35:20","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=70214"},"modified":"2024-01-29T20:37:17","modified_gmt":"2024-01-30T00:37:17","slug":"bybit-exchange-announces-listing-of-jupiters-jup-token","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bybit-exchange-announces-listing-of-jupiters-jup-token\/","title":{"rendered":"Bybit Exchange Announces Listing of Jupiter’s JUP Token"},"content":{"rendered":"\n

Major cryptocurrency exchange Bybit<\/a> revealed its intention to offer Jupiter's native token, JUP, a prominent liquidity aggregator on the Solana network.<\/p>\n\n\n\n

\"Bybit
Bybit Exchange Announces Listing of Jupiter's JUP Token<\/figcaption><\/figure>\n\n\n\n

According to the release from January 26, the cryptocurrency will go live on Bybit's spot and derivatives platforms on January 31. This will be a big step toward putting Jupiter's intended decentralized governance\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> model into action.<\/p>\n\n\n\n

Jupiter is well-known for its effective execution and minimal slippage across a variety of DEXs, accounting for 65% of the volume on Solana's decentralized exchanges. <\/p>\n\n\n\n

JUP's integration with Bybit is anticipated to attract interest from investors in the Solana space and those looking into various cryptocurrency assets.As part of its due diligence process, Bybit thoroughly investigated Jupiter before listing. <\/p>\n\n\n\n

Bybit CEO Ben Zhou offered his thoughts on the choice, pointing out that Jupiter plays a big part in managing the volume of Solana DEX. The company believes that JUP will present its consumers with new prospects in the decentralized finance<\/a> (DeFi) industry.<\/p>\n\n\n\n

On January 31, JUP trading on Bybit is scheduled to start at 3 PM UTC, and withdrawals will be available the next day at 10 AM UTC. JUP will first be offered on the spot market, then an hour later, perpetual contracts will be made available.<\/p>\n\n\n\n

On Jupiter's decentralized exchange, trading volumes have recently increased and reached $513 million on the last day. The surge in stablecoin exchanges on the network and the anticipation for a fresh memecoin airdrop are blamed for the increase.<\/p>\n\n\n\n

According to recent data from CoinGecko, Jupiter's trading volume has even exceeded that of Uniswap's V2 and V3 protocols, which are based on Ethereum.<\/p>\n\n\n\n

Transactions using “Wen,” a memecoin accessible to Solana users who had previously interacted with Jupiter and owners of the Solana Saga phone<\/a>, accounted for little over $50 million of Jupiter's trading activity.<\/p>\n\n\n\n

The much-awaited airdrop of the exchange's native token, JUP, is slated for distribution on January 31. The memecoin was created by Jupiter's engineers as a trial.<\/p>\n\n\n\n

However, the conversion of Solana (SOL) to Circle's USD Coin (USDC) and Tether (USDT), which accounted for $191 million of the day's total volume, accounted for the majority of Jupiter's trading activity in the previous day.<\/p>\n\n\n\n

JUP tokens' pre-market trading value is currently at $0.65, according to statistics from the decentralized exchange Aevo<\/a>. At present pricing, the anticipated total value of the 1 billion JUP coins that will soon be airdropped might surpass $600 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

Major cryptocurrency exchange Bybit revealed its intention to offer Jupiter’s native token, JUP, a prominent liquidity aggregator on the Solana network. According to the release from January 26, the cryptocurrency will go live on Bybit’s spot and derivatives platforms on January 31. This will be a big step toward putting Jupiter’s intended decentralized governance model […]<\/p>\n","protected":false},"author":43,"featured_media":70216,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[662,197,18144],"class_list":["post-70214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-bybit","tag-defi","tag-jup"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/01\/croc_1706558951161.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/70214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=70214"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/70214\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/70216"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=70214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=70214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=70214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}