Jupiter's new trading product, YOLO, recorded over $1 billion in volume within its first 24 hours of operation after its 15th October beta launch. According to reports from AMBCrypto, the trading product on Solana offers 1,000x leverage on SOL, BTC, and ETH, allowing trading with as little as $10. However, traders should note that at such high leverage, a 0.1% price move against their direction could wipe out their position. The unaudited beta version counts notional exposure and can queue winning traders' profits, with winners depending on a separate house pool funded by trader losses.
Jupiter token's price has declined by 21.8% over the past ten days, as reported by AMBCrypto. The token's long-term trend has been bullish since the swing structure break on the daily timeframe in May, with the low made at $0.144 serving as the anchor point for the rally that pushed upwards to $0.388. The next long-term demand zone to watch will be at $0.22, which was the bullish order block that propelled the latest JUP bullish impulse move.
On the 2-hour chart, the price trend shifted bearishly across the board, with the demand zone at $0.32 being flipped to a supply zone, according to AMBCrypto analysis. The retest as resistance in recent days yielded a bearish reaction, and the next demand zone at $0.29 was already being tested at the time of writing. Given the wider market weakness due to Bitcoin's retracement towards $80K, it is likely that JUP would continue its descent over the next week.
Jupiter's JUP token saw a 5.06-percentage-point move in 25 hours, driven by the launch of a 1000x-leverage perps product with $1B volume, as reported by Decrypt and Yahoo Finance. This aggressive leverage offering and strong initial usage statistics drew significant attention to the protocol and its token. The token's 24-hour change is about −1.02% while its 7-day change is about −16.79%, indicating a token in a broader downtrend but experiencing active trading and shorter-term percentage swings as sentiment and news flow vary. The move occurred within a broader crypto rebound, with BTC up about 1%, ETH up about 4%, and SOL up about 4% over the same period.
![Jito [JTO] drops 14% as TVL falls $193M amid weakening activity](/_next/image?url=https%3A%2F%2Fimages.askfuzz.ai%2Farticle_images%2Fjito-jto-drops-14-as-tvl-falls-193m-amid-weakening-activity.webp&w=3840&q=75)
