Jupiter shifts to Solana revenue buybacks amid supply changes
Jupiter (JUP)
Editor:
Eugene Serbin
tradersunion.com reports that Jupiter is strengthening its position as a leading Solana DEX aggregator while its JUP token trades below 2024 highs. The platform has generated profit annually since 2020 without outside funding until 2026, with fees rising from $7.7 million in 2023 to $580 million in 2025. In 2026, fee income dropped to approximately $143 million, with $45 million retained, as trading activity slowed.
Institutional support has grown, with ParaFi Capital investing $35 million in February and SoFi partnering for a combined dollar-crypto banking service. Bitwise Investments also holds JUP in its DeFi index fund, increasing institutional visibility. The token’s price weakness stems from supply inflation rather than operational failure, despite burning 30% of the initial 10 billion token supply.
Holders voted in early 2026 to reduce new supply to near zero and in late 2025 to burn 130 million JUP from the fund. Weiss Ratings estimates the buyback fund purchased $49 million of JUP over the last 12 months against a $710 million token value. This implies a buyback yield of about 7%, though fee income remains below 2025 levels. Long-term upside remains tied to Solana’s growth relative to Ethereum.
How the market reacted
Whalio's own Binance spot order flow for JUP, measured when this story was written up on 24 September 2026. Not the outlet's figures.
JUP is trading at $0.2904 with a 24-hour spot volume of $6,483,993 across 88,226 trades. The 24-hour buy ratio stands at 48.8%, while the 1-hour ratio is higher at 56.2% and the 4-hour ratio is lower at 39.9%. This indicates that buying pressure is currently building in the short term but has been fading over the last four hours. The 1-hour volume delta is positive at +$43,789, contrasting with negative deltas of -$433,734 over 4 hours and -$148,672 over 24 hours. A positive volume delta means buyers are spending more than sellers are receiving, while a negative delta indicates the opposite. Net buying occurred for only 8 of the last 24 hours, with a cumulative CVD of -$540,715 at the 24-hour close.
The latest daily buy ratio of 47.7% sits at the 39th percentile of the last 322 days, against a median of 48.7% - ordinary for this coin.
Was that an ordinary day?
The same Binance spot measurements for JUP, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 50.0%, making the latest day’s 48.8% reading 1.1 points lower than the average. Volume was 1.03 times the weekly average, indicating slightly higher than usual activity. The price increased by 32.5% over the eight-day period, despite a total volume delta of -$433,819. Net buying occurred on 5 of the 7 days in the preceding week. This suggests that while the recent day is slightly less bullish than the weekly average, the broader trend has been strongly positive with significant price appreciation.