Jupiter (JUP) cleared the $0.30 resistance level and touched a 10-month high, driven by growing demand for tokenized stocks on the Solana network. The token now commands 18% of Solana's tokenized equities volume and over 28% of tokenized equities deposited in lending protocols, while protocol inflows have turned positive again and network transactions hit a record high.
Jupiter cleared the $0.3 resistance level and touched a 10-month high of $0.31, trading near $0.30 as of writing. On the daily charts, JUP printed a 15% surge. The rally lifted Jupiter's market cap, which reclaimed $1 billion according to CoinMarketCap data.
Tokenized stocks on Solana fuel the move
Jupiter has benefited from the boom in tokenized stocks on the Solana ecosystem, with market watchers linking the rise in tokenized equities to JUP's price action. The total supply of tokenized stocks on Solana exceeded $620 million according to Blockworks data. Jupiter currently commands 18% of Solana's equities volume. At the same time, Jupiter holds over 28% of tokenized equities deposited in lending protocols. Although not an automated market maker, Solana's order flow is already routing hundreds of tokenized stocks, and as a result demand for Jupiter has recovered considerably.
Protocol inflows and network activity turn positive
Capital inflow into the Jupiter protocol has proven critical in determining the trend's direction, and the AMBCrypto report notes that the token had earlier dropped 10% when inflows turned negative. Now, with the altcoin rising again, inflows are holding positive. On September 21, USD inflows jumped to $34.3 million, resuming a trend seen on September 19. High network activity backed the capital inflow, as DefiLlama data showed transactions reached a record high of 620.2k.
Can JUP hold $0.30 and extend the rally?
Buyers have dominated the market for the past four days, coinciding with the upside momentum. The altcoin's MACD indicator has turned bullish, having formed a bullish crossover a day ago. If demand holds firm, Jupiter could hold $0.30 and target $0.35, the level where the trend collapsed in November 2025. If bulls fail to hold this level, JUP may drop to the $0.24 support and attempt another leg up, holding external factors constant.
Source: AMBCrypto
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