JUP plunges over 80% as doubts over utility and massive Token unlock cause investor panic.
The governance freeze has sparked protests as Jupiter struggles to regain confidence amid a deep sell-off.
The initial excitement of Jupiter [JUP] after its launch seems to have completely dissipated.
Down more than 80% from the peak, the Token's free fall caused panic among holders and raised deep questions about its long-term sustainability.
With governance frozen and utility in doubt, Jupiter is at a critical crossroads.
JUP plunges further as selling pressure intensifies
Since its $2.04 peak shortly after its launch, JUP has fallen more than 82%, with more than 33% of that decline occurring in the past month alone.
The token had shown signs of recovery in February, surpassing $1, but momentum quickly waned. At the time of writing, JUP is trading around $0.41, reflecting a sustained downtrend.
Source: TradingView
Technical indicators also reflect market sentiment; RSI hovers below neutral at 46, while MACD remains in negative territory despite signs of flattening.
The slight increase in trading volume creates some hope, but the current downtrend of JUP shows no signs of ending.
The controversial DAO pause
As Jupiter’s value has declined, community morale has also plummeted. Once-optimistic investors have become increasingly skeptical due to a lack of strategic clarity.
Jupiter Foundation made the shocking decision to suspend DAO voting rights in order to break bureaucratic stagnation and focus on product development.
Source: X
Some see this as a necessary step in restructuring, but many worry that the move undermines the project's inherent decentralization principles.
When investors are excluded from the decision-making process and team spirit is weak, the future of the project depends largely on the ability to centralize control to restore efficiency.
Has Jupiter hit bottom?
The root of the JUP crash lies in weak tokenomics. The massive token unlock caused the market to be overloaded with supply, leading to panic selling.
Additionally, the growing perception that JUP lacks practical utility beyond the crypto-speculative element reduces its appeal.
Source: X
While the protocol boasts a cumulative transaction volume touching $1 trillion, critics say this does not translate into sustainable token value.
With staking restrictions still in place and a lack of a clear roadmap to expand Token utility, holders are struggling to find a strong enough narrative to turn JUP around.
Source: https://tintucbitcoin.com/jupiter-token-mat-gia-nha-dau-tu-lo/
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