The cryptocurrency Jupiter has surged 12.45%, bringing its price to $0.585918 over the last 24 hours. Its market capitalization is at $790.99 million, alongside a significant 24-hour trading volume of $365.75 million per data from Binance. This activity is observed amidst a circulating supply of 1.35 billion Jupiter tokens, indicating a vibrant movement in the market.
Moreover, JUP saw a pivotal announcement that its liquidity pool will soon be removed. The declaration came from the official SolanaFloor X account, powered by Step Finance, stating that the removal will occur approximately 4 hours from the time of their tweet.
This liquidity pool removal signifies a crucial development for the JUP ecosystem. Liquidity pools allow for smoothed transactions of tokens without requiring a direct buyer-seller match. Hence, taking away this JUP liquidity pool will necessitate market participants to make adaptations.
The announcement also noted that the ending price of JUP when the pool removal happens will determine the amount of JUP tokens and USD coins taken out. Hence, investors have an added incentive to observe the price movements leading up to that key timeline.
Exclusive Opportunity for Jupiter Holders in Star Atlas Metaverse
In other noteworthy news for JUP, the Star Atlas X account revealed an exclusive opportunity for Jupiter token holders. Star Atlas, a blockchain-based metaverse focused on galactic exploration and strategy, stated that JUP holders can obtain a rare celebratory skin over the next five days.
This comes as part of Star Atlas’ celebration of Jupiter Exchange’s recent airdrop. As Star Atlas has earned repute in the metaverse sphere for enabling true in-game ownership via blockchain, the exclusive JUP skin promo adds further intrigue and value. Hence, this news provides yet another reason to take note of JUP cryptocurrency dealings in the coming days.
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With back-to-back impactful announcements, Jupiter indeed appears poised for pivotal developments ahead. The liquidity pool removal and the exclusive metaverse offer signify a key crossing point that will shape JUP’s outlook and standing.
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The post Why Is Jupiter (JUP) Price Pumping? Major Announcements Drive the Surge appeared first on CaptainAltcoin.
