Jupiter JUP Surges 40% in July as $150M DeFi Push Nears $3B TVL Milestone
JUP up 7% on Tuesday and 4th day in a row. The rally got a boost after they announced a $150M USDC allocation to the DeFi lending ecosystem.
Quick overview
- JUP surged 7% on Tuesday, marking its fourth consecutive day of gains, following a $150M USDC allocation to the DeFi lending ecosystem.
- The allocation supports Jupiter Liquidity Provider loans, allowing users to borrow against yield-bearing JLP tokens while stabilizing market behavior during liquidations.
- Jupiter's Total Value Locked (TVL) increased from $2.81B to $2.97B in 24 hours, indicating strong protocol adoption as it approaches the $3B mark.
- Technical indicators show JUP's bullish momentum, with a potential target of $0.74 if it maintains its position above key resistance levels.
JUP up 7% on Tuesday and 4th day in a row. The rally got a boost after they announced a $150M USDC allocation to the DeFi lending ecosystem.
This allocation is going to Jupiter Liquidity Provider (JLP) loans. Users can borrow against yield bearing JLP tokens. In case of liquidation Jupiter avoids market wide selloff by burning these tokens to reclaim underlying assets – an approach to stabilize market behavior and investor confidence.
According to DeFiLlama, Jupiter’s TVL went from $2.81B to $2.97B in 24 hours. As TVL approaches $3B it’s a strong indicator of the protocol’s adoption.
Open Interest and Bullish Signals
Market is also showing JUP love in derivatives. Coinglass data shows JUP’s Open Interest (OI) up 36% in the last 24 hours to $202.45M. This means more capital is being deployed and more bullish sentiment.
Funding rate has doubled from 0.0055% to 0.0110%. In derivatives a rising positive funding rate means bulls are paying a premium. This is a sign of confidence in upward price movement.
Key metrics at a glance:
- Open Interest (OI): $202.45M (+36%)
- Funding Rate: 0.0110% (up from 0.0055%)
- TVL: $2.97B (near record)
JUP Technicals Point to $0.74
JUP is showing strong bullish momentum. It has broken above the 200 day EMA at $0.5836 and the resistance at $0.6339 tested on Monday. JUP has gained over 40% in July alone with 4 green candles in a row.
MACD is bullish with green histograms out of the zero line and the signal line not crossing below. RSI is at 85 – very overbought.If JUP holds and closes above $0.6339 the next level is $0.7459 which is the December 20 low. If it fails to hold this level it will fall back to 200 day EMA at $0.5836 or 100 day EMA at $0.5031.
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