Looks like there is some good news for Jupiter. The plan to buy back some tokens and some burning as well, so this strategy still works and despite the market have been so bloody today, it still made some good rise.
- Jupiter plans to burn 3 billion tokens, boosting scarcity and reducing its fully diluted valuation.
- Half of Jupiter’s protocol fee revenue will fund token buybacks, stabilizing its value long term.
- Rising open interest and a positive funding rate signal heightened bullish momentum for JUP.
seems the team genuinely concerned about the price of JUP at difficult market like this, the previous airdrop undeniably diluted the market a bit that some people getting concerned, but it's nothing as bad as FTM conversion to S and get big dilution afterward.
seems like a solid investment to be honest with their buyback plan but nevertheless I think the FDV is pretty big already, as big as uniswap while uniswap also integrates with great deal of blockchain and not limited to ethereum L1 only.
it'd be great if jupiter can expand to other non-SVM blockchain as well though.
They have to do it while the timing is perfect. We are in a bull run and this is the advantage that they have because if they miss this chance, they'll have to wait over it for another longer period of time. And that's why if they've done this on this year, they did a good job on it because they will never know how confident their investors and holders will be. So, this is a good action that they have done and moving forward to the effect of it shown a positive reaction especially for its price.