Jupiter’s Bold $100M Annual Buyback Program Has Not Benefited JUP Traders

Jupiter’s bold $100 million annual buyback program has not benefited JUP traders and holders as some expected. The buyback program announced in February has reportedly acquired $19 million worth of JUP.

Jupiter's ambitious $100 million annual buyback program, announced in February, has reportedly managed to acquire only $19 million worth of the token.

Despite this, JUP has seen a 15% decline from Jupiter's average price of $0.50 for the buyback program, as highlighted by research firm Pine Analytics.

The report attributes this price capping to the broader Q1 contraction, evident in a steep decline in on-chain activity for Solana's DEX, as depicted by Artemis.

Furthermore, token dilution played a role, with 700 million JUP, or 7% of the supply, being unlocked in January for the Jupuary airdrop.

As of 2025, roughly 27% of the total token supply has been unlocked, while over 5 billion JUP remain locked and could potentially impact the price upon release.

In a positive development, the first week of May saw slight accumulation, according to CoinGlass's Exchange Netflows, with over $4M JUP tokens being withdrawn from exchanges.

Moreover, an analysis by Hyblock revealed that whales reduced their holdings, which coincided with the price decrease from $0.5 to $0.41. This $0.41 zone could act as a short-term support level for a potential bullish reversal.

However, such a recovery might be possible if RSI shows improvement and rises above 50 again, indicating renewed buying pressure.