A Look at the Number One DEX on Solana, Jupiter! | Data on Trading Volume, TVL, Users, Top Pairs and More | June 2024

in #hive-1679225 months ago

Jupiter has emerged as the shiny new start in the DeFi ecosystem on Solana. It’s not exactly a classical DEX as Uniswap, but its more as a DEX aggregator pulling liquidity from different apps and DEXs. It integrating different aspects of DeFi and at the same time building some features of its own like individual pools etc.

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The Jupiter app had a form of soft launch back in the summer of 2023, while it really took of in January 2024 with the launch of its native token JUP. There was an airdrop for the token as well.

Here we will be looking at:

  • Trading volume
  • Total value locked
  • Number of users
  • Top exchanges
  • Top Pairs and pool providers
  • Price

The data is taken from places like the official Jupiter stats, Defi Lama, Dune Analytics, Coingecko etc.

Trading Volume

Trading volume is extremely important. That is where the fees come from and the APR for liquidity providers. No trading volume means no fees and no capital in the protocol.
The chart for the trading volume looks like this.

image001.png

This is a chart for the daily trading volume. It’s quite volatile.
Prior to December 2023 the trading volume was quite low on Jupiter and then it increased a lot in December reaching one billion per day. A small pull back and a growth again in March 2024 up to 2B daily. In the recent period the trading volume has been in the range of 600M to 900M daily.
Quite impressive for such a new app.

On a monthly basis the chart looks like this:

image003.png

Here we can notice the increase in December up to 15B per month, then another leg up in March 2024 to almost 40B per month. In May the trading volume was at 23B.

Total Value Locked

Here is the chart for the TVL on Jupiter

image005.png

When it comes to Jupiter the TVL is sort of side metric since it doesn’t include the pools that it integrates from other protocols. It has some own liquidity through and as we can see it is at 400M now.

Active Users

How many users does Uniswap have? Here is the chart.

image007.png

A constant growth in terms of active accounts here. On average in the last period there has been 250k DAUs, daily active accounts, while on some occasions it has reached almost 400k.
Because of the low fees on Solana we can assume a lot of these accounts are bots, but still the numbers remain high and the trend is up. On a monthly basis the numbers are in the millions MAUs.

Top Exchanges

If we take a look at the data for the trading volume on the other exchanges provided by some of the aggregators like coingecko the numbers looks like this.

image009.png

This ranking combines both, CEXs (centralized exchanges) and DEXs.
We can see that Jupiter is now in the top 10 exchanges in the world by trading volume that is quite an achievement having in mind the short period of time it has been operating in. It has almost 1B daily trading volume.

There are few more DEXs that are in the top exchanges like Uniswap and Raydium, another Solana exchange.

Top Trading Pairs on Jupiter

Here is the chart for the top trading pairs ranked by liquidity.

image011.png

The USDC-SOL is on the first spot here with 2B trading volume in the last month.
After this trading pair there is a sharp drop to around 400M where it is the number one meme on Solana WIF, followed by the stablecoin pair. Some SOL derivatives pairs in the top as well.

In terms of liquidity pools providers the chart looks like this:

image013.png

The Raydium DEX is on the top followed by Orca and then Meteora. Jupiter aggregates all the pools from this exchanges providing users a great experience.

Price

The chart for the JUP price looks like this.

image015.png

As mentioned JUP is newly launched token starting from January 2024. It started trading around 0.6, then increased to 1.6 USD dropped and sort of stabilized around the dollar mark. In terms of market cap Jupiter now has around 1B in market cap valuation ranking it around the 70 spot.

All the best
@dalz

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Solana is still so mind blowingly big, I really missed when it became a big thing and still haven't caught on and I'm secretly just waiting for it to collapse.

But as it seems right now, Solana is here to stay.

Wow this is so detailed and easy to understand thank you for the breakdown

I think Binance will continue to remain the top exchange for a while because it has so many or varieties tokens…
That’s where I trade on too

Due to the scalability and low transaction fees on the Solana network, daily trading volume is high on DEXs on the Solana network. Users will turn to this in the future.

Solana is doing big big things in the crypto industry
Thanks for the stats

Solana's success is something I wish can happen with Hive. Jupiter's success is impressive, and can be a good blueprint for other new Dex like Leodex.

Solana is really mind blowing and it's really making a massive wave in the crypto space recently and this is really beautiful to see.

Solana lately has really been doing quite well I mean crazy well and it is beautiful to see it been imagined

!ALIVE

Do you know anything bout upcoming $JUP airdrops ?

No, you?

I believe more are planned, but I don't know much more than that. I found some $JUP pop into my Phantom wallet with the first airdrop, no clue how I earned it, but I'm keen to do something a bit more proactive for the future airdrops.

With its remarkable rise in trading volume, active users, and TVL, Jupiter is drastically changing the DeFi scene on Solana. It is emerging as a major participant in the decentralised finance ecosystem thanks to its distinctive DEX aggregation and cutting-edge features.

Wow big bro looking at the stats there, this is pretty awesome growth. The surge in trading volume and active users really shows how strong their platform is. It's impressive how quickly they've become a top exchange. As always nice work on the stats big Dalz. !BEER !WINE !LOLZ !LUV !HUG !PIZZA

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