Jupiter, a Solana-based exchange that ranks second among decentralised exchanges with an astounding $630 million in trading volume, benefits from Binance’s listing.
The world’s largest cryptocurrency exchange, Binance, has declared its intention to offer the JUP token on its platform, which is a major step forward for the Solana-based decentralised exchange, Jupiter Exchange (JUP). Jupiter Exchange, meantime, is creating ripples in the cryptocurrency community by taking second place among decentralised exchanges thanks to a spike in trading volume.
Notably, Binance’s decision to list JUP is anticipated to increase the token’s exposure and influence in the constantly changing cryptocurrency market.
Will Binance List Jupiter, Ushering in a New Era?
The latest news from Binance, the largest global exchange, indicates a significant support for Jupiter Exchange with its desire to list the JUP coin. Binance will launch spot trading for JUP on January 31, 2024, at 15:30 (UTC). Trading pairings that will be available include JUP/TRY, JUP/FDUSD, and JUP/USDT.
Furthermore, JUP’s listing cost of 0 BNB indicates Binance’s endorsement of this Solana-based DeFi technology. Within 48 hours of the listing day, Binance will concurrently launch JUP as a new borrowable asset along with a new margin pair on the Isolated Margin.
The news coincides with CoinGecko statistics that shows Jupiter’s incredible rise to the second place in trading volume on the decentralised exchange scene. According to the statistics, Uniswap V3 (Ethereum) is the market leader with over $781.25 million in volume over the previous day. Jupiter comes in second place with a whopping $629.32 million in trading volume over the same time frame.
This growth highlights Jupiter’s increasing ubiquity and power, paving the way for investors and cryptocurrency fans to pay it more attention.
An Examine More Into This Listing
With the launch of Jupiter Exchange on Binance, the Solana-based DeFi system is set to get further exposure and accessibility. With its remarkable trading volume and partnership with Binance, Jupiter is positioned as a significant participant in the decentralised exchanges space.
In the meanwhile, observers and investors alike will be attentively monitoring how this alliance affects Jupiter’s trajectory and looking forward to new advances in the quickly developing field of decentralised finance. It’s important to note that a number of other well-known cryptocurrency exchanges have already announced their intentions to offer the JUP token on their services, demonstrating the rising interest in the Solana-based project among the cryptocurrency world.
Top cryptocurrency exchanges, such as BitMart, LBank, and Bybit, will list Jupiter (JUP) on their platforms, for example. The listing of Bybit is live as of January 31, 3 PM (UTC), contingent on liquidity. In the meanwhile, JUP’s accessibility will increase since LBank has announced plans to list the currency shortly.
Conversely, BitMart declared that Jupiter would be included on its major listing, and that trade would start on January 31 at 4 PM (UTC). These entries demonstrate Jupiter’s rising prominence in the cryptocurrency market and indicate the growing interest in the planet.
With over four years of immersive experience in the crypto industry, Nick is a seasoned crypto writer dedicated to unraveling the complexities of blockchain technology and decentralized finance.
He brings a unique blend of technical insight and communicative flair to the crypto space.
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