Moving forward, we’ll first ensure you learn what the JUP crypto is all about and discover what products from the Jupiter project are no longer active. That said, we’ll primarily focus on the JUP token, which continues to live on Ethereum and BNB Smart Chain. Now, before throwing around a Jupiter crypto price prediction, we’ll first look at the asset’s tokenomics. Then, we’ll review the entire price action of $JUP since it started trading back in 2020. We’ll also use the basics of technical analysis (TA) to determine support and resistance levels.
Next, we’ll share our Jupiter crypto price prediction. Plus, you’ll learn how Moralis Money can help you confidently answer the question, “Is Jupiter crypto a good investment?” And for those of you who may decide to buy this token, we’ll even explain where and how to find the right markets to buy Jupiter crypto.
What is Jupiter? Exploring the Jupiter (JUP) Crypto Project
Jupiter is, or to be “technically correct,” was a blockchain project that went live in 2020. Part of the project was the Jupiter network – a layer-1 (L1) programmable blockchain. Jupiter aimed to make blockchain accessible and safe for crypto users by utilizing military-grade encryption. Furthermore, Jupiter had already powered several secure dapps on public and private networks. However, as you can see in the above screenshot of the project’s official website, Jupiter is no longer active.
Jupiter Products – Now Deprecated
According to Jupiter’s official website, this blockchain project had the following six projects that are now all deprecated:
- Gravity – This was Jupiter’s framework for dapp development. It allowed organizations and individuals to build and create custom dapps in a matter of minutes.
- Fndr – This was Jupiter’s flexible and secure (AES 256-bit encryption) password manager. It gave its users complete control of their account information.
- Decentralized Git – This product enabled users to store their Git repositories in a decentralized manner. Hence, it empowered them to store their projects without fear of removal, loss, or outages.
- Leda – This was Jupiter’s official marketplace for NFTs. This is where the Jupiter network users were able to create, sell, or collect digital items converted into non-fungible tokens (NFTs).
- Jupiter-fs – This was Jupiter’s file storage system. It allowed users to store small files on the Jupiter chain.
- Jupiter SDK – This was Jupiter’s node SDK that created a thin wrapper over the Jupiter blockchain. As such, it allowed developers to rapidly prototype and deploy dapps.
Note: Since all of the above-listed products are deprecated, it doesn’t make sense to dive deeper into any of them herein. However, if you want to quench your curiosity, feel free to explore them via the official JUP crypto website.
Jupiter on X
The project’s official website has clearly been updated to reflect the fact that Jupiter is no longer active. This fact is also reflected on its Jupiter X (former Twitter) account with no recent activity. The account has a pinned post since June 18, 2023:
As you can see in the above screenshot, the Jupiter network went offline at the end of June 2023. The people behind the project informed users to extract their JUP crypto token from the Jupiter network.
However, we couldn’t find any details after exploring the project’s X channel for any announcements regarding the reasons for depreciation. Moreover, there has been no activity on the project’s account since June 26, 2023.
JUP Crypto Analysis
Knowing that the Jupiter blockchain is no longer active, it may seem quite absurd to discuss any Jupiter crypto price predictions, right? Well, the fact that the JUP token continues to live on Ethereum and BNB Smart Chain is an important aspect in this regard.
Since most of the $JUP trading is done on Uniswap, we will focus on the JUP crypto asset on the Ethereum chain. From that perspective, $JUP is an ERC-20 token. It went live on Ethereum in August 2020, when 1,000,000,000 instances of JUP came into existence.
Tokenomics
Here’s the gist of the JUP crypto’s tokenomics on Ethereum:
- Symbol/ticker: JUP or $JUP
- Token type: ERC-20
- Smart contract address: 0x4B1E80cAC91e2216EEb63e29B957eB91Ae9C2Be8
- Total token supply: 1,000,000,000 $JUP
- Token distribution:
- Two KuCoin wallets hold over 60% of JUP (KuCoin no longer supports JUP trading pairs)
Note: The above distribution is quite suspicious and definitely something we need to consider when addressing the question “Is Jupiter crypto a good investment?”
Jupiter Crypto Price Analysis
Since the JUP crypto token has been trading since August 2020, there’s quite a decent amount of price data. As such, let us focus on JUP’s weekly chart. Since the price covers a rather wide range, it also makes sense to use the logarithmic scale:
Looking at the above chart, you can see that following the initial 230%-ish increase during the first two weeks of trading, JUP went on quite a downhill ride. Despite the fact that Bitcoin was already rallying, the price of JUP decreased by more than 99% over the next 112 days. This down move led to the asset’s all-time low (ATL) at $0.00003132.
However, at that time, many traders, or at least some whales, must have asked themselves where to buy Jupiter crypto and how to buy Jupiter crypto. After all, there was a lot of buy pressure and impressive trading volume in JUP trading pairs. Thus, $JUP went on a massive 4663x run in just 98 days. That’s a price increase of 466,200%!
The price peaked (ATH) at $0.1283 on March 15, 2021. However, it didn’t manage to stay at those high levels for long. Still, it’s crucial to note that even at the token’s ATH prices, its market cap reached no higher than $34,800,000. So, compared to many altcoins with market caps in the billions of USD, $JUP never caught a real break.
Following its peak, the price of JUP was in a clear downtrend like most of the altcoins at the time. Of course, following every large pullback (approximately 90%), there was a rather noticeable price bounce (400-500%) along the way. However, by May 2022, the $JUP price reached its local bottom at $0.0027-ish.
TA (Technical Analysis)
In the image above, you can see all the significant price levels for the JUP crypto price. Moreover, among them is also the $0.0034-ish level, at which the above-mentioned local low formed a weekly close. From there, the token went on a rather impressive run of more than 700%. However, it wasn’t able to set a new local high, and the price came back down to the aforementioned level of significance.
From the $0.0034-ish region, JUP managed to increase by 5x as the entire crypto market woke up in early 2023. But as the price reached the $0.015-ish region, it experienced rejection, eventually leading to the JUP price breaking below the previous support at $0.0034-ish. In fact, starting with Bitcoin’s 10% decrease in mid-August 2023, JUP plummeted all the way to the $0.00057-ish level.
Since that massive crash followed the project’s announcement of deprecated products, there was not a single optimistic Jupiter crypto price prediction on the horizon at the time. However, since the token’s market cap was so low (below one million USD), any increase in buy pressure had the power to send the price much higher.
As Bitcoin started to run from around $26,800 up to $36,000 on some exchanges, it was enough to propel JUP on a 700-plus percent increase. Still, as you can see in the above chart, for now, the price hasn’t managed to break above the resistance at $0.0034-ish.
If we now shift to the regular scale and the daily timeframe, we can focus on the more current JUP price action:
Jupiter Crypto Price Prediction – Is Jupiter Crypto a Good Investment?
The above daily chart reveals another level of importance at $0.0046-ish. The latter rejected the latest JUP price rally. And to be able to offer a slightly optimistic Jupiter crypto price prediction, the level at $0.0024-ish needs to hold.
The above chart also includes two rather significant downtrend lines. And as you can see, the JUP crypto broke out of them with an increased trading volume, which is a positive sign. However, the RSI indicator shows that the price of JUP is still in the oversold territory.
Short-Term Jupiter Crypto Price Prediction
With that in mind, the most likely short-term Jupiter crypto price prediction points towards sideways action. Still, it is quite clear that the asset’s price has always been strongly correlated with BTC’s activity. Thus, any noticeable move of the king of crypto will impact the JUP price.
$JUP Has No Use Case
It’s also important to note that whoever is buying JUP is making a purely speculative move. After all, JUP has no use cases as its blockchain – and all of Jupiter’s products – deprecated in June 2023. So, judging by the asset’s fundamentals, there is not a single reason for an optimistic Jupiter crypto price prediction.
However, as many meme coins with no utility go on massive runs, nothing stops JUP from such a path. But the likelihood of a scenario where $JUP would continue to increase and perhaps even reach its ATH levels is pretty low.
Conclusion: Is JUP Crypto Worth Buying?
The above sections should be more than enough to help you decide if you want to learn where to buy Jupiter crypto and how to buy Jupiter crypto. In other words, the information offered above will help you determine if this deprecated project deserves your attention.
If not, then start searching for better altcoin opportunities immediately using the best crypto breakout scanner. On the other hand, if you find $JUP interesting, make sure to research the token further using the Moralis Money $JUP token page.
On that page, you can find links to all the Jupiter project’s main outlets. Plus, it offers all the tools you need to analyze the token properly.
So, is Jupiter crypto a good investment? To answer that with confidence, you need to consider your risk tolerance, financial situation, and the insight offered by Moralis Money’s JUP page. You can access that page via the above “$JUP” link or the interactive widget below.
Where and How to Buy the Jupiter Crypto Asset
If you decide you wish to get a bag of $JUP, you have several options. Just use the “Market” section on CoinGecko or CoinMarketCap page for that token. There, you’ll find a list of all CEXs and DEXs that offer the relevant training pair, including the trading volume. As such, you can easily pick a market that best suits your goals.
In case you decide to buy Jupiter tokens, use the above instructions to find a DEX or CEX that has a sufficient trading volume for that crypto.
If you go with a DEX, then you’ll need a hot Web3 wallet (e.g., MetaMask), which you’ll need to connect to the platform. Next, you’ll be able to select the trading pair and execute the on-chain transaction.
The process of using a CEX is arguably even simpler. After all, once you have your account ready and funded, it is rather straightforward: simply visit that token’s trading pair and execute the trade. However, keep in mind that whenever you use CEXs, you are not in full control of your cryptos. “Not your private key, not your crypto!”
Jupiter Crypto Price Prediction – Is JUP Crypto Worth Buying? – Key Takeaways
- Jupiter was a programmable blockchain that went live in 2020 but deprecated in June 2023.
- The JUP crypto token continues to live on Ethereum and BNB Smart Chain.
- JUP has no utility and is now a purely speculative asset.
- The asset’s historical price action indicates extreme volatility. There were many 400%-plus price increases and many 90%-plus price decreases on JUP’s path.
- The best Jupiter crypto price prediction we can offer is that it is likely to move with the entire crypto market.
- Is Jupiter crypto a good investment? It’s definitely a risky one and requires every trader to do proper research before investing.
- Use Moralis Money’s $JUP token page to determine if/when to buy this crypto.
Whether you buy $JUP or not, you should explore other altcoin opportunities. And the best way to find up and coming crypto is to use Moralis Money. This ultimate on-chain analysis tool allows you to spot new crypto coins with ease!
Aside from empowering you to spot the best altcoin opportunities, Moralis Money offers several additional features. For instance, you can also use it as your crypto portfolio manager. Plus, its Token Alerts feature allows you to automate useful crypto signals.
To make the most of Moralis Money, consider upgrading to a Starter or Pro plan. Additionally, we encourage you to explore our Web3 blog, where we answer many questions, including those such as “Is DOGE dead?”
