Jupiter

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Beyond Bitcoin, JUP's 90-day return correlations to the other two largest layer-1 references help characterize whether the asset moves as part of a crypto-market beta complex or as something more idiosyncratic. The Pearson correlations across daily log returns:

• Bitcoin reference: +0.46 — a moderate positive relationship.
• Ethereum reference: +0.57 — a moderate positive relationship.
• Solana reference: +0.70 — a strong positive relationship.

Strong correlation to multiple references typically indicates that the asset trades primarily as crypto-market beta — moves in BTC/ETH/SOL drive most of the price action, and stand-alone alpha is harder to capture. Weak or negative correlations indicate idiosyncratic drivers (project-specific news, sector rotation within crypto, or narrative shifts) that can produce returns uncorrelated with the broader market.

Jupiter (JUP) is a decentralised-finance token, governing or fee-collecting on a DeFi protocol. It trades at $0.2213 as of the latest update, with a 24-hour move up 6.21%, placing it at rank #42 by market capitalisation among all listed digital assets. Jupiter's current market cap stands at $734.74M, a figure used by traders, analysts and institutional desks to gauge relative liquidity and risk exposure across the crypto market.

On this page you'll find a live, daily-refreshed dashboard tracking Jupiter across multiple data sources — price history going back several years, on-chain activity where available, fundamentals like circulating supply and dilution, top exchanges by volume, technical analysis using moving averages and RSI, and an algorithmic short, mid and long-term forecast. All figures are pulled from public APIs and cached locally; nothing here is investment advice.

Jupiter is the governance asset of a working DeFi protocol; the cleanest mental model is equity in that protocol. What backs it is fee revenue, total value locked, user growth and how well-run the governance is — not the price of an external asset.

Holding Jupiter means holding a say in how the protocol is run — votes on fees, supported assets and treasury use — and, in revenue-sharing designs, a slice of what the protocol earns. Its value is therefore anchored to the protocol's usage and cash flows rather than to any single underlying asset.

Primary use cases: governance participation (voting on parameter changes), fee-sharing or rebates in protocols that distribute revenue to stakers, collateral on lending markets (for the major tokens), and exposure to the underlying protocol's growth.

To read Jupiter's tokenomics, look at the issuance schedule, the share of supply already in circulation, and the gap between market cap and fully-diluted valuation. Only 33.2% of maximum supply is currently circulating, meaning future emissions remain a meaningful source of structural sell pressure. Issuance velocity and unlock schedules become important variables in any longer-term thesis. The fully diluted valuation (FDV) of $2.1 billion stands at 2.8× the current circulating market cap of $0.7 billion. The wider this ratio, the more issuance overhang the asset faces — a structural headwind on valuation that mature assets like Bitcoin do not face but that early-cycle assets typically do.

Whether the tokenomics help or hurt comes down to value accrual versus dilution — fee burns, reinvested staking yield and TVL growth on one side, scheduled emissions on the other. A favourable balance lets price grind higher without hype; an unfavourable one means the asset must keep attracting demand just to absorb issuance.

At the macro level, the variables that move this asset class most are the direction of US interest rates, the supply of dollar liquidity, and the state of global risk appetite. Crypto has behaved like a long-duration, high-beta risk asset: it tends to rally when real yields fall and the dollar softens, and to sell off when liquidity tightens.

The cross-asset relationships worth watching: the dollar index (DXY), historically inversely correlated with crypto over longer windows; the 10-year Treasury yield, a proxy for the cost of risk capital; gold, which sometimes shares a "monetary hedge" framing with Bitcoin during regime changes; and the S&P 500, which during liquidity-driven moves often rhymes with crypto despite the "uncorrelated" narrative.

Narrowing to Jupiter, the cleanest leading signal has usually been crypto-native liquidity — the combined trend in stablecoin supply, futures open interest and exchange turnover. When that pool of on-chain capital grows, JUP has tended to advance with it; when it drains, the move has typically gone into reverse. Given the 90-day BTC correlation of +0.46, JUP's near-term macro sensitivity will be similar to Bitcoin's — driven primarily by the same liquidity conditions and risk-asset flows.

Specific risks: protocol exploit risk (a flaw in the smart contracts can wipe out treasury and dilute the token), governance attacks (hostile actors acquiring voting power), revenue dependence on broader DeFi activity (cyclical), competitive pressure from rival protocols, and regulatory ambiguity around governance-token classification.