Solana-based tokens JUP and JTO hit key milestones: What about SOL?

• The market capitalization of JUP, the native token of Jupiter, has exceeded $1 billion.
• Other protocols such as Jito have also seen growth.

Solana (SOL) has managed to attract a large number of users to its ecosystem over the past few months. But SOL is not the only one benefiting from the influx of new users on the network.

Decentralized exchanges (DEXs) such as Jupiter have also seen immense growth, which has also translated into interest in the JUP token.

From Jupiter to the Moon

JUP was one of the top four tokens newly issued in 2024, with a market value above $1 billion. Over the last 24 hours, the price of JUP increased by 6.04%. At press time, the token was trading at $1.04.

Source: X/ThorHartvigsen

The exchange has also performed very well in terms of overall trading and activity, which has increased significantly over the past month.

Source: Dapp Radar

A thriving ecosystem

But Jupiter Exchange wasn’t the only Solana protocol to see growth. Other protocols, like Jito, have also seen a surge in interest. Jito is a protocol that helps resolve their SOL issues.

At press time, JTO, the native token of the Jito protocol, was trading at $3.18 and its price had jumped 5.97% over the past month.

Despite the price surge of these two tokens, social activity around the tokens has shown negative signs over the past few weeks.

Data from AMBCrypto revealed that social volume and weighted sentiment for JTO and JUP had declined significantly.

This indicates that despite the overall progress of these tokens, they have hit a bump in the road in terms of gaining popularity on social media platforms.

It may take some time for these protocols to regain interest in the crypto industry in the future.

Source: Santiment

Despite the waning popularity of these protocols and tokens, its progress has shown that not only is the Solana network benefiting from its popularity, but its overall ecosystem is growing as well.

Read Solana (SOL) Price Prediction 2024-25

At press time, SOL was trading at $142.72 and its price increased by 4.67% in the last 24 hours. The volume that SOL was trading at also increased by 12.06% during this period.

It remains to be seen whether SOL will manage to maintain this rally in the long term.

Source: Santiment