Jupiter (JUP) has surged more than 15% after June protocol revenue climbed to a three-month high, according to data from crypto.news. The token traded around $0.233 at the time of writing after briefly touching an intraday high near $0.238, extending its weekly gain to almost 30%. The rally followed a sharp improvement in protocol activity during June, with DeFiLlama data showing Jupiter generated 261,909 SOL in user fees and 76,257 SOL in protocol revenue during the month, reversing three consecutive months of weakening network activity.
Jupiter's Strategic Reserve, Litterbox Trust, has significantly increased its market presence by adding 356,726 JUP over the last 24 hours alone, according to AMBCrypto reports. This addition builds on the 14.44 million JUP purchased last month, bringing total locked tokens to 143.8 million. The reserve has also successfully burned 134.55 JUP from its efforts, contributing to a broader supply reduction strategy. This represents a major shift in tokenomics, with JUP's total supply now below 7 billion tokens, down from 10 billion following the 3 billion token burn in January 2025.
Technical indicators demonstrate strong bullish momentum as JUP has reclaimed its 200-day exponential moving average around $0.219, a level that repeatedly rejected advances during the previous decline. The daily chart shows price has remained comfortably above the daily Supertrend indicator near $0.169, preserving the bullish structure established after June's recovery. Momentum indicators continue to favor buyers, with the daily MACD remaining above its signal line and the four-hour RSI climbing to about 63 without entering overbought territory. Recent trading data shows Net Volume revealed that more than 800K JUP were bought on the day as bulls reclaimed market momentum.
Derivatives traders joined the advance rather than fading it, with open interest climbing roughly 11% to $58.7 million while funding rates stayed positive near 0.0021%, showing leveraged traders have continued paying a premium to maintain long exposure. According to crypto.news, this combination generally supports sustained momentum as long as fresh buying continues to absorb profit-taking. The 4-hour structure shows JUP trading above an ascending trendline that has supported higher lows since early June, with immediate resistance near $0.238 followed by the psychological $0.24 region. As per AMBCrypto, the altcoin has attempted to reclaim the lost trendline support level, though it has yet to create a base above this level to confirm a true trend shift.
The bullish outlook would weaken if JUP loses the ascending trendline and falls back below the former breakout zone around $0.218, which would place the 200-day EMA under pressure and increase the probability of a decline toward the $0.20-$0.19 region. However, recent developments suggest potential for continued upward movement, with AMBCrypto noting that if the price stays above the minor resistance at $0.24, it may push toward $0.28. The addition of JupUSD to JLP as a custody asset and talks of Jupiter building its own Omnichain Ledger further support this bullish scenario. Without continued growth in protocol revenue and sustained derivatives participation, the latest breakout could lose momentum before challenging the next major resistance zone above $0.24.
