Grayscale lists Jupiter (JUP) as an asset under consideration

Grayscale is expanding its selection of tokens, in a bid to include the latest trends and successful projects from this bull cycle. Jupiter (JUP) is among the selected, reflecting the Solana ecosystem. 

Grayscale is expanding its selection of crypto assets under consideration, with the option of expanding its array of products. One of the choices is Jupiter (JUP), the most active DEX aggregator on Solana. Jupiter reflects meme token activity and is one of the key distributors of fees to its community. 

Grayscale considers several categories of listings, and Jupiter falls under financial project cryptos that aim to deliver value through financial operations. In this category, Grayscale is also looking at Base’s DEX, Aerodrome, Ethens, Injective, Mantra, Ondo Finance, Pendle, and ThorChain. With the exception of ThorChain, all other projects appeared and made their mark in the past year, offering novel value models. 

Grayscale reflects growth in DeFi, AI projects

The new batch of assets follows the listing of Aave (AAVE) and the expansion of the share of Bittensor (TAO). Grayscale has also expressed interest in Celestia (TIA), as well as Sui (SUI), two relatively new additions to the decentralized infrastructure. 

For Jupiter (JUP) supporters, the proposed listing is among the most meaningful, as the aggregator is tied to real-life products and produces significant fees for the community. The platform expanded its activity in the past three months, producing up to $3.38M in fees in October.

Grayscale has selected some legacy coins and tokens that are not at the peak of success, but have other signs of liquidity. The latest batch of tokens under consideration includes even networks that are considered riskier, like Toncoin and TRON.

Grayscale already expanded its assets to over $22B, though it has cut down its exposure to Bitcoin (BTC) and Ethereum (ETH), leaving other funds with more assets under management. Grayscale continues to offer a mix of public funds and those reserved for private placement to accredited investors. 

Jupiter grows value locked to new record

Jupiter started out as an aggregator, but has also built up liquidity of its own. Inflows expanded in the past few months, and total value locked soared to a new peak. Jupiter now locks in $1.32B in value. 

At the same time, JUP tokens have a market capitalization of $1.16B, making the token undervalued based on the ratio of value locked to market cap. In October, Jupiter swaps picked up again and are near record levels, as interest in meme tokens returned. In the past few months, Jupiter introduced technologies for meme token analysis and faster trading with low slippage. 

JUP currently trades at $0.85, despite expectations of rallying to a higher range. The token is also locked for staking and community votes, easing some of the selling pressure. Recently, Jupiter also extended the Active Staking Rewards program by a year, with the intention of distributing 235M additional JUP. 

After the exposure to Grayscale, JUP once again sparked expectations of rivalling Uniswap’s UNI and moving to a higher price range. 

Jupiter to carry DeBridge LFG launch

Jupiter will boost its listings with the launch of DeBridge DBR tokens through its LFG concentrated liquidity. The launch is scheduled for October 15 and will aim to treat the community fairly to avoid the creation of whales. 

DeBridge has been preparing for the event for the past six weeks. Jupiter LFG is the selected platform for performing the token sale, with no initial bonding curve. DeBridge will still use decentralized liquidity, but with a stabilized price for all participants at $0.025. 

The difference with the IDO or other forms of token sales is that the liquidity raised through Jupiter will remain in use for the protocol, instead of being controlled by the team. Additionally, 3M USDC and 100M DBR will be supplied to the Meteora DEX on Solana after the token generation event, for a price of $0.03 per DBR. 

Jupiter LFG will use the Alpha Vault technology to prevent bots from sniping the sale and to distribute tokens to the real community. Unlike traditional bonding curves, Jupiter will try to limit the price volatility of DBR within a range through deeper liquidity close to the $0.025 price.