Jupiter falls to Level 1 - Zombie zone! (Patreon)

Why so weak? Per the Crypto Compendium, Jupiter (JUP) token is inflating by about 26%

September 28, about 53.5 million JUP were unlocked, adding around 1.7% to the circulating supply at that time.

To reduce supply growth, Jupiter uses half of its revenue to buy back JUP and lock it long-term (making it deflationary). Current daily revenue is around $515,000, so about $258,000 goes into buybacks each day. At today’s price about 614,000 JUP are bought back daily. Over a year, that equals roughly 7% of the 3.2 billion supply.

So while inflation adds about 26%, the buybacks cancel out around 7%, leaving a net supply increase of about 19% per year.

I normally add this name at 33 to 38 cents. But this time I will pass. I still hold it and I am waiting for the bananazone if we get one.

The Good News RE JUP

• It is a money maker.

• It is well adopted.

• Very creative.

• Yet the price action is in the toilet....

• That being said they just got an ETP aka ETF in Europe