木星（JUP）违反了市场下降趋势，因为基于索拉纳的DEX聚合器揭幕了回购计划

TradingView的数据表明，在过去的24小时内看到JUP在过去一周对比特币增长了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.

基于Solana（Sol）的分散交易所（DEX）聚合器木星（JUP）在过去一周中以超过34％的价格涨幅超过34％，尽管过去24个下降了11％，但价格上涨了34％以上小时。

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.

代币的价格上涨是在BTC下降了近4％的情况下，并遵循了木星有史以来的第一次活动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.

该活动看到该协议的化名创始人（称为“ Meow”）揭示了所有协议费中的50％将用于从公开市场购买JUP令牌，然后将其移至“长期垃圾箱”，这是一个长期的垃圾箱 - 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.

此举旨在看到该协议收入的一部分，用于增加其令牌的需求，这可能会导致价格上涨。

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.”

根据Bitget Research的首席分析师Ryan Lee的说法，回购计划可以“充当长期增长的催化剂，因为该团队估计它可以每年增加数亿美元的回购量。”

“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.

李在一份声明中告诉Coindesk：“回购计划是一项重大公告，可能会对JUP的价格产生积极影响。”

“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，价格也受其他各种因素的影响，包括整体市场状况，供求动态以及任何监管发展。”

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.

根据Dune Analytics的数据，木星是Solana领先的DEX聚合器，促进了超过12.5亿代币掉期的近22.2万亿美元。

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

在过去的24小时内，其交易量超过690万美元的65亿美元。

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.”

该公告还将看到Jupnet的推出，被描述为一个旨在“汇总一个单个分散分类帐中所有加密货币的网络”，以最大程度地易于用户和开发人员使用。”

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

它的公共Beta版本将在接下来的几个月中发布。

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

尽管该公告可能有助于JUP的价格上涨，但它引起了社区的一些担忧。

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在通过电子邮件向Coindesk的一封电子邮件声明中写道，“周末的新闻（Solana最常用的DEX）正在以其默认的“ Ultra”模式实施5BPS费用，这对交易者来说是令人失望的消息。”

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模式设置为包括实时滑移估计，动态优先费用和优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.”

根据Bitget Research的Lee，该协议的成功“可能会冒着集中化的风险”。

“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告诉Coindesk，他补充说：“如果木星继续增强其影响力并成为Solana生态系统中的主要参与者，它可能会导致对单个项目的过度依赖。”在权力下放和分布时。”

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

李说：“对于那些重视加密和Defi的分散性质的人来说，这可能是一个关注点。”

“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，一个领先的项目还可以吸引更多的关注，并推动生态系统内的进一步发展，这最终使用户和更广泛的加密社区受益。”

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.”

根据Chung的说法，Solana的“整个价值主张在整个过程中的成本较低，更高，而在这种情况下，交易成本增加了5-10bps。但是，当没有可感知的性能增益比以前的免费版本时，尤其是当所讨论的功能在着陆交易中至关重要时，这尤其令人失望。”

“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补充说：“感觉就像是一个摇摇欲坠的人，尤其是当您认为交换费收入（即使在2bps为2个）已经是天文学的，而且足以支付这些功能的成本（应该从一开始就包括在内）。”

“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).”

“当您考虑使用掉期费用收入用于资助木星的回购计划（这将提高JUP令牌的价格）并获得Moonshot（Memecoin CEX）和Sonarwatch（一项链子投资组合跟踪器），这尤其如此。 ）。”

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继续指出，木星“清楚地希望统治整个Solana生态系统”，这既“对创新和用户体验不健康且有害”。

“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.

“不是摆脱中间人和掠夺性行为的全部要点吗？对于Chung的创始人而言，木星的举动相当于“垄断行为”，该行为使现任人“在没有竞争的情况下越来越进一步提高价格”，这是分散财务的行为类型，目的是消除。