Is It Too Late to Buy Jupiter? JUP Price Tops Charts, Eco-Friendly Bitcoin Rival Secures $5.9M
As the market cap of Solana’s biggest decentralized exchange (DEX) Jupiter (JUP) surges beyond $2 billion, and its fully diluted market cap powers towards $15 billion, crypto investors are asking if it is too late to buy Jupiter.
After witnessing a crypto that was at one point trading at a modest valuation surge to a hefty market cap, it’s natural for investors to fear that they might have missed the boat.
Just over one month ago, Jupiter was trading at a valuation that was more than 3x less.
Then its token price was trading under $0.50, versus its price now of around $1.50.
But rather than beating themselves up for missing the rally, investors need to assess the asset at its current valuation.
In Jupiter’s case, its fully diluted market cap is around 25% more than Uniswap, the most well-established DEX.
In that sense then, its valuation suggests that Jupiter has now become the market-leading DEX.
Comparing trading volumes supports this notion – Jupiter has 24-hour trading volumes of close to $2.4 billion versus Uniswap’s $1.35 billion.
That means, on the one hand, that it is no longer a highly undervalued project versus its peers.
That suggests there is little prospect for “catch-up” gains.
But that doesn’t mean JUP’s value can’t continue to rise as the DEX market expands.
We remain in the midst of a crypto bull market that is only just really starting to spread to altcoins.
Jupiter could easily still 3x from here in the next 12 or so month as Bitcoin keeps pushing higher.
While Jupiter could post 3x gains this bull market, some investors are hunting much bigger potential upside.
those looking for a better probability of near-term gains should consider an alternative high-risk, high-reward investment strategy—getting involved
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