JUP rises 51% in four weeks as Jupiter fees decline

Jupiter’s JUP token has climbed about 51% over the past four weeks. The protocol’s fee revenue has been heading the other way. That split is the interesting part. The explanation appears to sit in lending, a business Jupiter barely registered in until recently. The numbers behind the rally Research findings put JUP’s 30-day gain somewhere between 48% and 55%, depending on the measurement window. That leaves the token trading in a range of roughly $0.33 to $0.38 as of October 2026. The broader crypto market has been soft, with some protocols posting a pullback of around 6% on the week. JUP mostly ignored the weather. It also ignored Solana. The research describes JUP’s price action as decoupled from SOL, the native token of the blockchain Jupiter runs on. Jupiter Lend has now passed Kamino Finance to become the largest lending market on Solana. Its active loans and total value locked (TVL) sit between $1.21 billion and $1.41 billion, according to the research. TVL is the total value of assets users have deposited into a protocol, a rough gauge of how much money trusts the platform. Active loans grew by 14% to 28% over the past month. Fees tell a different story On the revenue side, ...