Jupiter has just revealed plans to launch its advanced lending platform, Jupiter Lend, later this summer—sending its token JUP soaring 14% as investors welcomed the protocol’s expansion into DeFi lending.
On May 23, Jupiter (JUP), a leading DEX aggregator on Solana (SOL), announced that it will launch its new lending product, Jupiter Lend, later this summer.
https://twitter.com/JupiterExchange/status/1925614551162138901?t=_sj_hs8M-A7ABYFGEWJWyA&s=19
Jupiter Lend aims to be “most advanced money market on Solana,”, offering loan-to-value ratio as high as 90%. This is significantly higher than the typical 75% found on most crypto lending platforms. Th fees for using Jupiter Lend are expected to be as low as 0.1%.
The new lending product is being developed in partnership with Fluid, a leading liquidity infrastructure provider that will serve as the liquidity layer behind Jupiter Lend.
Jupiter Lend will launch with two in-house protocols: a lending protocol that enables one-click deposits, and a vault protocol offering loans at competitive interest rates. Jupiter is also designing the system to be fully composable, inviting other teams to build on top of the platform.
Registration for Jupiter Lend is now open, although a specific launch date has not yet been confirmed.
Jupiter’s native token JUP rallied by 14% in the past 24 hours on the news, currently trading at $0.60. With this surge, JUP price broke above the local resistance at $0.60 and is now printing a new leg up towards the fourth consecutive higher high on the daily chart. The price has recovered 100% from its lowest point of $0.30 in early April, where the previous downtrend found support.
Momentum indicators confirm the bullish trend: the RSI is above 66, approaching overbought territory, while the MACD has just flipped bullish, with the the MACD line crossing above the signal line and the histogram flipping green. JUP is also trading well above its 20-day EMA, reinforcing the strength of the current uptrend.
