On 31st January, Jupiter, which is a Solana-based Decentralised Exchange aggregator by Volume, was launched with massive success. The token’s price showed remarkable growth, opening at $0.41 and reaching $0.72, pushing its fully diluted market cap above $6 Billion. But slowly, the hype around it went down, and the price started to decline and is not seeing any recovery.
Jupiter had one of the largest airdrops in crypto history, distributing $700 million worth of JUP tokens. The Solana wallet holders were able to claim the Jupiter airdrop, which has seen only limited success so far. More than 50% of tokens are waiting to be claimed, signaling inactivity around the overall ecosystem.
Another reason for the lack of interest by the investors is that the Jupiter (JUP) token was released with lower than the anticipated supply, which was 1.7 billion circulating tokens rather than 2 billion. Jupiter is currently priced at $0.49, which is down 75.83% from its all-time high of $2.04 on Jan 31, 2024, according to data by CoinGecko.
Investors are concerned about Jupiter’s future, and the price is expected to drop further since there are no signs of recovery. Whales and investors have started looking out for new promising projects.
Let’s have a look at Algotech (ALGT) and why it has become the new talk of the town.
Algotech (ALGT) Steals Spotlight With Its Advanced Trading Features
lgorithmic TradFi platform Algotech (ALGT) has emerged as the standout choice for investors thanks to its exciting new features. The decentralized Algorithmic platform comes with advanced features for traders. Users can use Algotech for breakout detection, trend identification, hedging, and large-volume arbitrage across different asset classes.
Its Smart contract has undergone comprehensive auditing, making it a trustworthy choice for crypto enthusiasts. The project’s private sale recently attracted attention when Algotech (ALGT) raised over $1.1 Million within two days. Analysts are already predicting a significant upward price movement of the ALGT token in the coming weeks. Currently, the token is at Stage 1 with a token price of $0.04 and will go up to $0.12 in Stage 4.
The community-centric token has also attracted users by offering governance rights, ownership stakes, and other additional benefits. Algotech (ALGT) is outshining many altcoins, including Jupiter (JUP), because of its strong tokenomics model and deflationary mechanism.
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