Jupiter Surges Past Raydium, JUP Token Soars Amidst Bullish Indicators

Jupiter Overtakes Raydium as Solana's Second-Biggest Protocol

Jupiter, a decentralized exchange (DEX) on the Solana blockchain, has surpassed Raydium in terms of total value locked (TVL), securing its position as the second-largest protocol on the network. This development comes on the heels of a series of positive announcements made by Jupiter at the Catstanbul 2025 event.

At the event, Jupiter revealed its acquisition of a majority stake in Moonshot and SonarWatch, creating a Solana portfolio tracker. Additionally, the DEX committed to allocating 50% of its protocol fees toward JUP buybacks and a planned burn of 3 billion tokens. These announcements have driven increased activity on the DEX, boosting its TVL significantly over the past few days.

Jupiter's JUP token has reacted positively to these developments, with increased demand in recent days driving up its value. At press time, the altcoin trades at $1.19, noting a 24% price uptick in the past 24 hours. During this period, it has outperformed the top 100 cryptocurrencies, making it the market's top gainer.

An assessment of the JUP/USD one-day chart reveals the possibility of an extended rally. At press time, the token's on-balance volume (OBV) is in an upward trend, sitting at an all-time high of 1.3 billion. This indicator suggests increasing buying pressure, as more volume is associated with upward price movement, indicating a potential bullish trend.

Furthermore, JUP's Chaikin Money Flow (CMF) sits above the zero line at 0.11 as of this writing. This indicator also measures how money flows into and out of an asset. When this indicator is positive, it indicates buying pressure in the market, suggesting that the asset is experiencing accumulation.

At press time, JUP trades at $1.19. If it continues to see a surge in demand, this could drive its value above the resistance formed at $1.22 and toward $1.46. Conversely, this bullish outlook will be invalidated if the token witnesses a resurgence in selloffs, in which case JUP's price could drop to $1.08.