木星（JUP）違反了市場下降趨勢，因為基於索拉納的DEX聚合器揭幕了回購計劃

TradingView的數據表明，在過去的24小時內看到JUP在過去一周對比特幣增長了34％以上

Solana (SOL)-based decentralized exchange (DEX) aggregator Jupiter (JUP) is seeing its native token buck the market trend with a price surge of over 34% against BTC over the past week, despite seeing an 11% decline over the last 24 hours.

基於Solana（Sol）的分散交易所（DEX）聚合器木星（JUP）在過去一周中以超過34％的價格漲幅超過34％，儘管過去24個下降了11％，但價格上漲了34％以上小時。

The token’s price increase comes amid a seven-day decline of nearly 4% for BTC and follows a series of announcements made during Jupiter’s first-ever event, Catstanbul 2025.

代幣的價格上漲是在BTC下降了近4％的情況下，並遵循了木星有史以來的第一次活動Catstanbul 2025年的一系列公告。

The event saw the protocol’s pseudonymous founder, known as ‘Meow,’ reveal that 50% of all protocol fees will be used to buy JUP tokens from the open market, which will then be moved to a “long-term litterbox,” a long-term reserve.

該活動看到該協議的化名創始人（稱為“ Meow”）揭示了所有協議費中的50％將用於從公開市場購買JUP令牌，然後將其移至“長期垃圾箱”，這是一個長期的垃圾箱 - 期限。

The move is set to see a portion of the protocol’s revenue used to increase the demand for its token, which could lead to a price increase.

此舉旨在看到該協議收入的一部分，用於增加其令牌的需求，這可能會導致價格上漲。

According to Bitget Research’s Chief Analyst, Ryan Lee, the buyback program could “act as a catalyst for long-term growth as the team estimates it could add hundreds of millions of dollars to the buyback volume per year.”

根據Bitget Research的首席分析師Ryan Lee的說法，回購計劃可以“充當長期增長的催化劑，因為該團隊估計它可以每年增加數億美元的回購量。”

“The buyback program is a significant announcement that could have a positive impact on JUP's price in the long term,” Lee told CoinDesk in a statement.

李在一份聲明中告訴Coindesk：“回購計劃是一項重大公告，可能會對JUP的價格產生積極影響。”

“However, it's important to note that the price is also influenced by various other factors, including the overall market conditions, supply and demand dynamics, and any regulatory developments.”

“但是，重要的是要注意，價格也受其他各種因素的影響，包括整體市場狀況，供求動態以及任何監管發展。”

Jupiter is Solana’s leading DEX aggregator, having facilitated nearly $2.2 trillion in total volume over 1.25 billion token swaps, according to data from Dune Analytics.

根據Dune Analytics的數據，木星是Solana領先的DEX聚合器，促進了超過12.5億代幣掉期的近22.2萬億美元。

In the last 24 hours, its trading volume was $6.5 billion over 6.9 million swaps.

在過去的24小時內，其交易量超過690萬美元的65億美元。

The announcement is also set to see the launch of Jupnet, described as an omnichain network designed “to aggregate all of crypto in one single decentralized ledger for maximum ease of use for users and developers.”

該公告還將看到Jupnet的推出，被描述為一個旨在“匯總一個單個分散分類帳中所有加密貨幣的網絡”，以最大程度地易於用戶和開發人員使用。”

Its public beta version is coming in the next few months.

它的公共Beta版本將在接下來的幾個月中發布。

While the announcement may have helped JUP’s price surge, it drew some concerns from the community.

儘管該公告可能有助於JUP的價格上漲，但它引起了社區的一些擔憂。

Chung wrote in an emailed statement to CoinDesk that the “news over the weekend that Jupiter – Solana’s most used DEX – is implementing a 5bps fee for basic swap trades in its default 'Ultra' mode is disappointing news for traders.”

Chung在通過電子郵件向Coindesk的一封電子郵件聲明中寫道，“週末的新聞（Solana最常用的DEX）正在以其默認的“ Ultra”模式實施5BPS費用，這對交易者來說是令人失望的消息。”

Jupiter’s Ultra mode is set to include features such as real-time slippage estimation, dynamic priority fees, and optimized transaction landing, all bolstered by a new “Jupiter Shield” security tool.

木星的Ultra模式設置為包括實時滑移估計，動態優先費用和優化的交易降落等功能，所有功能都受到新的“木星盾牌”安全工具的支持。

According to Bitget Research’s Lee, the protocol’s success “may come with the risk of centralization.”

根據Bitget Research的Lee，該協議的成功“可能會冒著集中化的風險”。

“If Jupiter continues to increase its influence and become the dominant player in the Solana ecosystem, it could lead to over-reliance on a single project,” Lee told CoinDesk, adding that the “situation is contrary to the principles of blockchain which are aimed at decentralization and distribution of influence.”

Lee告訴Coindesk，他補充說：“如果木星繼續增強其影響力並成為Solana生態系統中的主要參與者，它可能會導致對單個項目的過度依賴。”在權力下放和分佈時。”

“This could be a point of concern for those who value the decentralized nature of crypto and DeFi,” Lee said.

李說：“對於那些重視加密和Defi的分散性質的人來說，這可能是一個關注點。”

“On the other hand, a leading project can also attract more attention and drive further development within the ecosystem, which ultimately benefits users and the broader crypto community.”

“另一方面，一個領先的項目還可以吸引更多的關注，並推動生態系統內的進一步發展，這最終使用戶和更廣泛的加密社區受益。”

According to Chung, Solana’s “entire value proposition is lower cost and higher throughout, and a 5-10bps increase in trading costs is significant in this context. But it’s particularly disappointing when a paid model is being implemented when there is no perceivable performance gain over the previous free version, especially when the features in question are essential in landing transactions.”

根據Chung的說法，Solana的“整個價值主張在整個過程中的成本較低，更高，而在這種情況下，交易成本增加了5-10bps。但是，當沒有可感知的性能增益比以前的免費版本時，尤其是當所討論的功能在著陸交易中至關重要時，這尤其令人失望。”

“It feels like a shakedown, especially when you consider that the swap fee revenue (even at 2bps) is already astronomical and more than sufficient to cover the costs of these features (which should have been included to begin with),” Chung added.

Chung補充說：“感覺就像是一個搖搖欲墜的人，尤其是當您認為交換費收入（即使在2bps為2個）已經是天文學的，而且足以支付這些功能的成本（應該從一開始就包括在內）。”

“This is especially true when you consider that the swap fee revenue is being used to fund Jupiter's buyback program (which will drive up the price of JUP token) and to acquire Moonshot (a memecoin CEX) and SonarWatch (an on-chain portfolio tracker).”

“當您考慮使用掉期費用收入用於資助木星的回購計劃（這將提高JUP令牌的價格）並獲得Moonshot（Memecoin CEX）和Sonarwatch（一項鍊子投資組合跟踪器），這尤其如此。 ）。”

Chung went on to state that Jupiter is “clearly looking to dominate the entire Solana ecosystem,” in a move that's both “unhealthy and detrimental for innovation and for the user experience.”

Chung繼續指出，木星“清楚地希望統治整個Solana生態系統”，這既“對創新和用戶體驗不健康且有害”。

“Isn't the whole point of DeFi to get rid of the middleman and predatory behavior? To Chung's founder, Jupiter's moves amount to “monopolistic behavior” that allows incumbents to “raise prices further and further in absence of competition,” the type of behavior that decentralized finance was meant to eradicate.

“不是擺脫中間人和掠奪性行為的全部要點嗎？對於Chung的創始人而言，木星的舉動相當於“壟斷行為”，該行為使現任人“在沒有競爭的情況下越來越進一步提高價格”，這是分散財務的行為類型，目的是消除。