Jupiter has simply revealed plans to launch its superior lending platform, Jupiter Lend, later this summer season—sending its token JUP hovering 14% as buyers welcomed the protocol’s enlargement into DeFi lending.
On Could 23, Jupiter (JUP), a number one DEX aggregator on Solana (SOL), introduced that it’s going to launch its new lending product, Jupiter Lend, later this summer season.
Jupiter Lend goals to be “most advanced money market on Solana,”, providing loan-to-value ratio as excessive as 90%. That is considerably greater than the everyday 75% discovered on most crypto lending platforms. Th charges for utilizing Jupiter Lend are anticipated to be as little as 0.1%.
The brand new lending product is being developed in partnership with Fluid, a number one liquidity infrastructure supplier that can function the liquidity layer behind Jupiter Lend.
Jupiter Lend will launch with two in-house protocols: a lending protocol that allows one-click deposits, and a vault protocol providing loans at aggressive rates of interest. Jupiter can also be designing the system to be absolutely composable, inviting different groups to construct on high of the platform.
Registration for Jupiter Lend is now open, though a selected launch date has not but been confirmed.
Jupiter’s native token JUP rallied by 14% up to now 24 hours on the information, at present buying and selling at $0.60. With this surge, JUP worth broke above the native resistance at $0.60 and is now printing a brand new leg up in the direction of the fourth consecutive greater excessive on the every day chart. The worth has recovered 100% from its lowest level of $0.30 in early April, the place the earlier downtrend discovered assist.
Momentum indicators verify the bullish pattern: the RSI is above 66, approaching overbought territory, whereas the MACD has simply flipped bullish, with the the MACD line crossing above the sign line and the histogram flipping inexperienced. JUP can also be buying and selling nicely above its 20-day EMA, reinforcing the power of the present uptrend.
