Jupiter , a Solana-based decentralized exchange aggregator, announced on Feb. 2 a $35 million investment in its JUP token from ParaFi Capital. The deal will be settled entirely in JupUSD, Jupiter’s stablecoin. According to Jupiter’s announcement, the deal closed at current market price with ParaFi committing to an extended token lockup. Jupiter did not disclose the specific lockup duration. ParaFi Capital had not issued a public statement confirming the investment at the time of publication. JupUSD to ...

Group 1 - The article highlights that in the next 7 days, there will be significant token unlocks, with single large unlocks exceeding $5 million for tokens such as SUI, SIGN, EIGEN, KMNO, JUP, OP, TREE, SAHARA, and ZORA [1] - Additionally, there will be linear large unlocks (daily unlocks exceeding $1 million) for tokens including RAIN, SOL, RIVER, TRUMP, CC, WLD, DOGE, and AVAX, with a total unlock value exceeding $464 million [1]

Market Overview - Bitcoin (BTC) and the broader crypto market experienced a decline, influenced by the European Union's plans for €93 billion ($110 billion) in tariffs in response to U.S. President Donald Trump's threats regarding Greenland [1] - The tariff concerns negatively impacted equities in Europe and U.S. futures, while safe-haven assets like gold and silver reached record highs [1] Bitcoin Performance - Bitcoin is currently trading at $93,000, reflecting a 2.5% decrease since Sunday [2] - The cryptocurrency fell below the $94,500 support level, indicating a potential return to a trading range between $85,000 and $94,500, which has been in place since mid-November [3] Derivatives Market - The crypto market pullback resulted in nearly $800 million in leveraged long bets being liquidated within 24 hours due to margin shortages [6] - Total notional open interest (OI) in crypto futures decreased by over 2% to $138.14 billion, with Bitcoin's OI increasing by 0.65% while OI for other major tokens dropped by 8%-13% [6] - The 30-day implied volatility for BTC and ETH has not significantly increased, indicating traders do not expect major price movements in the near term [6] Altcoin Market - The altcoin market showed mixed performance, with the CoinDesk 80 Index (CD80) down 4.64% over the past 24 hours, while the CoinDesk 20 (CD20) fell by 2.5% [2] - Monero (XMR) diverged positively from Bitcoin, rising over 13%, while DeFi tokens faced double-digit losses [6] - Medium market cap tokens underperformed compared to major cryptocurrencies, highlighting a liquidity issue following October's liquidation events [6] Liquidations and Market Impact - The tariff-induced selloff led to $815 million in liquidations, with $231 million attributed to Bitcoin and the remainder affecting the altcoin market [6]

Core Insights - The conversation around token buybacks in the crypto space is becoming increasingly critical, as projects like Jupiter and Helium reassess their buyback strategies due to limited impact on token prices despite significant expenditures [1] Group 1: Helium's Buyback Strategy - Helium has halted HNT buybacks funded by Helium Mobile revenue, despite generating $3.4 million in October 2025, due to minimal market response [2] - The company previously shifted to daily automated buybacks in late 2025, aimed at reducing token supply through revenue from mobile subscriptions and network data usage, but has now paused these buybacks [3] Group 2: Jupiter's Buyback Challenges - Jupiter has spent over $70 million on JUP buybacks in 2025, funded by approximately half of its protocol fee revenue, but the token's price has dropped nearly 90% from its early-2024 high [4] - The circulating supply of JUP has significantly increased, with around 700 million tokens entering circulation by January 2025, leading to persistent inflation that outpaces the buybacks [5] Group 3: Market Dynamics and Critique - Critics argue that buybacks do not effectively support token prices when new supply consistently exceeds the amount being removed, turning buybacks into exit liquidity rather than capturing long-term value [5][6] - Buybacks are seen as ineffective without structural demand drivers, such as mandatory utility or reduced emissions, as traders may sell into predictable buying pressure [7]

Core Viewpoint - Jupiter co-founder SIONG proposed to halt the JUP buyback program, citing over $70 million spent last year without significant price increase [1] Group 1: Financial Strategy - The proposed funds from the halted buyback could be redirected to provide growth incentives for existing and new users, along with soliciting community feedback [1] - Solana co-founder Toly emphasized the difficulty of capital accumulation, noting that traditional finance requires over a 10-year investment cycle, suggesting that mimicking this setup instead of buybacks may be more effective [1] Group 2: Incentive Mechanisms - Toly recommended implementing a staking mechanism to encourage holders to lock their assets long-term, which could lead to profit generation for future protocol assets [1]

Core Viewpoint - Jupiter co-founder SIONG is seeking community input on whether to suspend the JUP buyback program, as the funds used for buybacks last year exceeded $70 million, but the token price has not shown significant improvement [1] Group 1 - The funds allocated for the buyback program last year were over $70 million [1] - The performance of the token price has not improved noticeably despite the buyback efforts [1] - There is a consideration to potentially redirect the funds towards growth incentives for existing and new users [1] Group 2 - The decision to stop the buyback and shift towards an incentive mechanism is pending further discussion and decision from the community [1]

Core Viewpoint - Upbit, South Korea's largest crypto exchange, is undertaking a comprehensive security reset by deleting all deposit addresses following a breach that resulted in a loss of over $36 million in crypto assets [1][6]. Group 1: Security Measures - Upbit is not merely patching the affected wallet but is completely overhauling its deposit-address system to address vulnerabilities revealed by the hack [2][5]. - All users must generate new deposit addresses for every asset and network before making deposits again [2][6]. - The company is conducting a thorough security review of its deposit and withdrawal systems, implementing deeper audits and more restrictive access controls [5][6]. Group 2: Incident Details - The breach on November 27 involved unauthorized transfers of various assets from Upbit's hot wallet to an unidentified external address [7]. - Upbit's response included freezing $8.18 million in LAYER tokens on-chain and moving remaining funds to cold storage [7]. - The incident occurred six years after a previous hack in 2019, which involved the theft of 342,000 ETH, believed to be executed by North Korean cyber groups [7]. Group 3: Regulatory Oversight - South Korea's Financial Supervisory Service (FSS) is monitoring Upbit's security overhaul as part of its ongoing inspection following the hack [5][6]. - The overhaul is seen as a direct response to regulatory scrutiny after the significant loss [6].

According to Coingecko, in the next 7 days there will be one-time large token unlocks (amounts over $5 million) for HYPE, XPL, JUP, KMNO, OP, ZORA, H, and SAHARA. Meanwhile, linear large token unlocks (daily unlocks over $1 million) are scheduled for SOL, TRUMP, WLD, DOGE, ASTER, AVAX, TAO, ZEC, and ETHFI, with the total unlocked value exceeding $566 million.https://t.co/F80vrafICh ...

Project Overview - JUP and JUICE are associated with RT S A and @SAXweb3 [1] - The project is described as a free workspace [1] - The project is powered by Solana [1] Technology & Platform - The project operates within the Web3 space [1] - The project utilizes the Solana blockchain [1]

Jupiter's Fresh Start Initiative - Jupiter 社区以 86% 的压倒性多数投票决定销毁 Litterbox Trust [2] - Jupiter 正在采取行动，通过缩减 DAO 和减少取消抵押窗口，以实现“全新开始” [1] - 此举旨在重建长期信心，简化结构，并将 $JUP 重新聚焦于生态系统的中心 [2] Ecosystem Impact - 行业普遍看好这种新方法，认为可能对生态系统产生非常积极的影响 [1]