DEX Aggregator Jupiter (JUP) Soars 14% as It Unveils Plans to Launch Lending Platform Jupiter Lend

Jupiter has just revealed plans to launch its advanced lending platform, Jupiter Lend, later this summer—sending its token JUP soaring 14%

Jupiter, a renowned DEX aggregator on Solana, has just revealed plans to launch its advanced lending platform, Jupiter Lend, later this summer. This announcement sparked a 14% rally in JUP token as investors reacted positively to the protocol’s expansion into DeFi lending.

Jupiter announced on May 23 that it will be launching its new lending product, Jupiter Lend, later this summer. This move marks a significant expansion for the protocol, which is already known for its efficient DEX aggregation services.

Jupiter Lend is designed to be the ‘most advanced money market on Solana,’ offering loan-to-value (LTV) ratios of up to 90%. This is a high ratio compared to the typical 75% LTV offered by most crypto lending platforms. The platform will also charge low fees for borrowing and lending, starting from 0.1%.

The new lending product is being developed in partnership with Fluid, a leading liquidity infrastructure provider that will serve as the liquidity layer behind Jupiter Lend.

Jupiter Lend will launch with two in-house protocols: a lending protocol that enables one-click deposits into the lending program and a vault protocol that will offer loans at competitive interest rates. Jupiter is also designing the system to be fully composable, inviting other teams to build on top of the platform.

Registration for Jupiter Lend is now open, although a specific launch date has not yet been confirmed.

Following the news, Jupiter’s native token JUP experienced a 14% price surge in the past 24 hours, reaching a price point of $0.60. With this rally, JUP broke through the local resistance at $0.60 and is poised to continue rising towards the fourth consecutive higher high on the daily chart.

Moreover, JUP price has achieved a 100% recovery from its lowest point of $0.30, which was reached in early April at the bottom of the previous downtrend.

Momentum indicators on the technical analysis chart are also indicating a bullish trend. The RSI is currently above 66, approaching overbought territory. The MACD has just flipped bullish, with the MACD line crossing above the signal line and the histogram turning green. Additionally, JUP is trading comfortably above its 20-day EMA, further attesting to the strength of the current uptrend.