We are having a quiet weekend and there are not major movements in the markets. Solana has been moving slowly upwards in the last 24 hours and is currently trading at $195. Will SOL press through $200 soon and remain above that?
Cryptocurrencies on the Solana network have enjoyed good days recently, and we all know about the different MEME tokens such as Book of Meme and yesterdays crypto of the day, dogwifhat.
The token of the day, the one with the best price movement in the last 24 hours (from the top #100 on CoinMarketCap) is Jupiter, a very popular DEX on the Solana network. You can find the website of Jupiter at https://jup.ag/
What is Jupiter? What has caused the price rise?
The price increase in the last 24 hours has been about 20%. That isn't a very extreme movement in the world of cryptocurrencies, so it is probably related to the general interest in Solana and the fact that Jupiter is a very popular DEX on Solana.
Jupiter is popular and the daily volume yesterday almost reached $450,000,000. Much of the volume comes from MEMEs, but the native token, $JUP, is also a very popular one for trading.
There is a great demand for the native tokens of the different exchanges, and not long ago TraderJoe on Avalanche had a price surge of nearly 50% in a day.
Worth knowing before you buy something I mention here...
First of all, I write about all sorts of token based on price movements in the last 24 hours. I don't write about tokens I love, neither do I write about tokens I believe in. I simply write about tokens that has had a great move in the last 24 hours. This is not financial advice in any way.
In fact, a token that has had a great movement in the last 24 hours often ends up performing bad afterwards (unless it is on a super-run), so a token with a great curve the last 24 hours is often dangerous because it can easily fall back. Once again, this is not financial advice.