Jupiter now accounts for 50% of Solana’s computational load.
Siong, the co-founder of Jupiter, Solana’s main DEX aggregator, unveiled a goal launch date for the protocol’s cell app.
Talking throughout the Solana Crossroads 2024 convention, Siong revealed that the venture is aiming to roll out its cell app throughout “late Might or early June.” Siong famous {that a} “check flight” model of the appliance is already “up and operating,” with Jupiter presently within the means of submitting the cell app to Apple for approval.
The information comes as Jupiter is driving a dominant share of buying and selling exercise on Solana.
Siong estimated that Jupiter accounts for roughly 50% of Solana’s computational load per block, and is receiving greater than 250,000 requests from customers per second.
Based on Jupiter Station, Jupiter hosted practically 1.85 million transactions prior to now 24 hours, equating to practically $809 million in commerce quantity.
The venture additionally launched a perpetual contracts buying and selling platform roughly seven months in the past, which has since grown to seize a roughly 70% to 75% market share for perps buying and selling on Solana.
The Jupiter Perpetual Change presently boasts a complete worth locked (TVL) of $340.7 million and drove $424.5 million value of quantity prior to now 24 hours, in accordance with DeFi Llama.
JUP rollercoaster
Jupiter additionally airdropped its JUP token to 955,000 early adopters in January, with the token debuting at a $900 million market cap, in accordance with CoinGecko.
Like many airdropped property, JUP slumped throughout its first month of commerce, falling 29% to put up an all-time low of $0.47 two weeks after launching. The downward momentum was intensified by backlash from Jupiter’s group in response to Jupiter transferring to promote 18.5% of JUP’s provide by way of its LFG Launchpad simply a few days after the airdrop.
Nevertheless, JUP started to regain steam in late February, rallying to a file excessive of $1.75 in early April. The token has since pulled again by 36.6%, final altering fingers for $1.11.
Final week, Jupiter built-in assist for Clone Protocol, permitting customers to commerce property from outdoors of the Solana ecosystem from the platform.
