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 cellular app.
Talking throughout the Solana Crossroads 2024 convention, Siong revealed that the challenge is aiming to roll out its cellular app throughout “late Could or early June.” Siong famous {that a} “check flight” model of the applying is already “up and working,” with Jupiter presently within the means of submitting the cellular 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.
In keeping with Jupiter Station, Jupiter hosted almost 1.85 million transactions prior to now 24 hours, equating to almost $809 million in commerce quantity.
The challenge 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 Trade presently boasts a complete worth locked (TVL) of $340.7 million and drove $424.5 million price of quantity prior to now 24 hours, in keeping 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 keeping with CoinGecko.
Like many airdropped property, JUP slumped throughout its first month of commerce, falling 29% to publish an all-time low of $0.47 two weeks after launching. The downward momentum was intensified by backlash from Jupiter’s neighborhood in response to Jupiter transferring to promote 18.5% of JUP’s provide through 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 help for Clone Protocol, permitting customers to commerce property from outdoors of the Solana ecosystem from the platform.
