1010210102 Tokens
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JUP

Jupiter · Solana DEX aggregator

38 /100
T4Speculative · #34 of 77
No engine yetCould move up ↑low likelihoodReviewed Oct 23, 2026
DemandSoundnessDurability
9 of 4522 of 407 of 15

Key facts

SupplyFloat 48% of issued supply
  • Circulating 3.32B, 33%
  • Locked or unvested 3.54B, 35%
  • Not yet issued 3.14B, 31%
  • Max 10.00B
FDV / market cap
2.1x
$2.0B / $987.2M
Market cap
$987.2M
Price $0.297, 7d −1.3%

Market data: CoinGecko, Oct 24, 2026. Scores reviewed Oct 23, 2026.

Assessment

Jupiter routes 50% of on-chain revenue into monthly JUP buybacks, $38.2M over the trailing year, but the Litterbox Trust holds what it buys rather than burning or distributing it, on revenue down ~65% year on year. Supply is the strongest axis: SPL mint authority is revoked and supply is fixed at 6.86B after the ~3.1B burn. Float is 48%, team and community allocations release on project-set schedules, and team, reserve and ops pools came to ~47-50% of the 10B ever issued. Multisigs can upgrade the aggregator and perps programs with no timelock, and the buyback reaches holders only if the trust burns or distributes its JUP.

How value reaches holders

50% of on-chain revenue funds monthly JUP buybacks by the Litterbox Trust, every month of 2026: $38.2M over the trailing year and $2.48M in the 30 days to Oct 18 (DefiLlama holders revenue). Bought JUP is held by the trust, not burned. Revenue $76.5M trailing year, down ~65%

Score anatomy

Demand

9 / 45: the stronger of two routes, plus adoption

Why would anyone hold it: does value reach the token, and is the network or product used today?

Holder routing engine input
2

50% of on-chain revenue buys JUP monthly ($38.2M trailing year), held by the Litterbox Trust rather than burned or distributed: buy-and-hold into a treasury.

Small or discretionary flows, plumbing under 25%, or buy-and-hold into a treasuryhigh confidenceHow this is scored

Revenue reality engine input
3
Monetary usage engine input
0

Governance token; ~$4M of JUP posted at lenders, mostly Jupiter Lend, its own venue.

Trading onlyhigh confidenceHow this is scored

Adoption ×3
1

Jupiter is still the largest aggregator (28% share TTM) but volume fell 64% to $279B and fees 64% to $245M YoY: down 60%+ caps it at 1

Marginal or fading: negligible use for its size, usage down 60%+ year on year, or a lost forkmedium confidenceHow this is scored

Two routes, the stronger counts

01234510cash flowmoney
Revenue 3, minus 2 for routing 2 = cash flow 1. Money use 0. The engine is the stronger route: 1.

Soundness

22 / 40

Can a long-term holder trust the rules: supply, float, distribution and control?

Supply discipline ×3
5

SPL mint authority revoked (read Oct 23, 2026): supply is fixed at 6.86B after the 2025 burn of ~3.1B.

Hard cap or net deflationary by protocol rule, under 1%/yr gross growth, and nobody can mint past the cap or change the schedule short of a hard fork node operators adopthigh confidenceHow this is scored

Float and unlocks ×1
3

Float 48% (3.32B of 6.86B after the 3B burn); team and community allocations release on project-set schedules (Jupuary) rather than a fixed calendar.

0.5-1.5% per month, or large foundation or treasury holdings without a schedulelow confidenceHow this is scored

Distribution ×2
1

No VC; team 20%, strategic reserve and team-run ops pools came to ~47-50% of the 10B ever issued (the 3B burn does not lower it) vs Jupuary airdrops and launchpool; Jupiter directs the reserve

Insiders received 25-50%, or one organization directs 10-30%medium confidenceHow this is scored

Decentralization and security ×2
1

Jupiter's aggregator and perps programs (the JLP pool holds the value) are upgradeable by multisig PDAs with no timelock or binding vote (read Oct 23, 2026); JUP mint and freeze authorities are revoked

A halt, rollback or exploited consensus bug in the last 24 months, attack cost under $10M, or a foundation-selected validator set or small multisig can halt or upgrade with no meaningful exit windowmedium confidenceHow this is scored

Durability

7 / 15

Is it big, proven and reachable by institutions?

Scale ×1
4

$1.0B market cap (band 4), $77.8M/day median volume (band 4), no flags.

Major: $1-10B market cap and $50M/day+How this is scored

Track record ×1
1

Launched Jan 31, 2024: 2.7 years old.

1-3 yearshigh confidenceHow this is scored

Institutional access ×1
2

Valour Jupiter ETP in Europe; no US filing found.

OTC trust, non-US product, or a pending US filinghigh confidenceHow this is scored

What would move it up

To reach T3 Mixed, 3 gates are still open:

  • Score 38needs 40(open)
  • Value engine 1needs 2(open)
  • Adoption 1needs 2(open)
  • Supply 5gate 1(met)

Tier outlook

Could move up ↑low likelihood

  • Routing rises to 3 if the Litterbox Trust burns or distributes bought JUP, lifting the engine to 2
  • Revenue falls a band if trailing on-chain revenue drops under $25M/yr (from $76.5M), erasing the cash-flow route
  • Security rises if the aggregator and perps programs gain a timelock or binding vote on upgrades
  • Overhang: Jupuary and team releases on project-set schedules against a 48% float

Compare with

How the ranking works and how JUP compares: see the full ranking. This entry as JSON:

GET https://tokens.10102.io/api/v1/tokenomics?symbol=JUP