Jupiter Exchange has made significant strides in the decentralized finance market, ranking second in daily fees, trailing only stablecoin issuer Tether.
Jupiter Surpasses Pump.fun
According to DefiLlama data, Jupiter Exchange earned $10.88 million in fees in the past day, which is $7.3 million less than Tether. However, Jupiter outperformed platforms like Uniswap, PancakeSwap, and Hyperliquid. In terms of revenue during the same period, Tether is the leader with $18.19 million, and Jupiter surpassed Pump.fun with $2.42 million.
JUP Market Performance
Data from CoinGecko shows the decentralized finance sector is up by 0.6% with its collective market cap at $102 billion. JUP token showed a good performance, gaining 9.5% over the previous 24 hours. Among the segment's top ten assets, it was only bettered by Maker (MKR) and Hyperliquid’s HYPE.
Solana Ecosystem Turmoil
Jupiter’s rise comes amid instability in Solana's DeFi space. Last week, Meteora, co-founded by Jupiter's pseudonymous lead, Meow, faced leadership upheavals after its other co-founder, Ben Chow, resigned over financial misconduct claims. The controversy surrounding the LIBRA meme coin also added to the sector's instability.
Jupiter Exchange is solidifying its position in the decentralized finance market, showcasing high earnings and growth of its JUP cryptocurrency despite challenges in the Solana ecosystem.
