$JUP 💥JUP, the native token of the Jupiter exchange, rose more than 12% yesterday, becoming one of the best-performing altcoins of the day. The price continued its upward momentum, increasing by more than 2% in the last 24 hours. Meanwhile, the trading volume has jumped by more than 60%, showing strong and ongoing interest from traders. JUP rose more than 12% on Monday and remains bullish with a 2% increase in the last 24 hours.

The trading volume has increased by more than 60% at the time of writing, showing strong interest from traders.

Technical analysis points to a bullish breakout and a possible move towards $1. The recent momentum came after Jupiter announced on May 22 that it would launch a new product called Jupiter Lend. Powered by F, a DeFi protocol, this lending platform is expected to launch in the summer of 2025. The exchange shared a short video promising a high loan-to-value ratio of 95%. This strong feature could help boost the price of JUP even further. However, there are also other broader factors at play.