News Heat Trend
Project Overview
Jupiter is a Solana-based DEX aggregator that aggregates liquidity for traders looking for the best possible prices with minimal slippage. Though Jupiter was initially conceived as a swap engine, the protocol has evolved significantly to include a number of different products for different kinds of users such as: Dollar-Cost Averaging (DCA), limit orders, perpetual trading, and, most recently, a launchpad.
Blockworks joins Coinbase and other crypto institutions to establish a Token Disclosure Alliance, promoting transparent disclosure standards akin to the stock market
the "Transparency Alliance," initiated by Blockworks, has been officially established, garnering support from over 40 crypto enterprises including Coinbase, Kraken, and Binance.US. The alliance aims to jointly develop unified token information disclosure standards to enhance market transparency and attract institutional capital. Based on Blockworks' Token Transparency Framework, the alliance seeks to establish a standardized information disclosure mechanism for crypto assets, similar to that of the stock market, enabling investors to gain a clearer understanding of token structures and risks.Reportedly, the framework covers details such as token issuance structure, internal holdings allocation, market maker arrangements, exchange listing terms, and repurchase mechanisms. It distinguishes between two types of document systems: "one-time pre-issuance disclosure" and "ongoing update disclosure." To date, 44 projects, including Morpho, Jupiter, Spark, and dYdX, have completed the relevant filings.Industry insiders point out that this initiative aims to establish a unified information infrastructure for the crypto market to meet institutional investors' demands for transparency and compliance. Blockworks stated that it has communicated with relevant personnel from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Analysts believe that this alliance signifies the crypto industry is accelerating its shift towards an "institutionalized information disclosure system." However, its ultimate impact will depend on whether the market translates these disclosure standards into widespread industry consensus. (CoinDesk)
Polymarket Plans to Enter the Japanese Market, Aiming for Approval by 2030
According to Cointelegraph, prediction market platform Polymarket is seeking entry into the Japanese market and aims to obtain regulatory approval for prediction markets from the Japanese government by 2030. The report states that Polymarket has appointed Mike Eidlin, Japan Head of crypto firm Jupiter, to lead its local operations in Japan and advance related compliance efforts. Japan maintains strict regulation over online gambling, permitting only a limited number of government-authorized activities—such as horse racing and public lotteries. Although Polymarket has not yet received authorization to operate in Japan, its Japanese regional X (formerly Twitter) account has already amassed over 53,000 followers. Meanwhile, under regulatory pressure and amid competition from platforms like Kalshi, Polymarket’s monthly nominal trading volume declined nearly 15% month-on-month in April.
Securitize Partners with Jump Trading and Jupiter to Launch On-Chain Compliant Stock Trading on Solana
Securitize announced partnerships with Jump Trading and Jupiter Exchange to launch a fully on-chain, compliant tokenized stock trading service on Solana. The solution integrates regulatory compliance infrastructure, liquidity support, and distribution channels to build an integrated on-chain securities trading system, accelerating the migration of traditional financial assets onto blockchain.
Jupiter Responds to Vercel Security Incident: Unaffected, Key Rotation Completed and Ongoing Monitoring
According to an official announcement, in response to the recent Vercel platform security incident, Jupiter (@JupiterExchange) stated that it has received no notifications or indications of impact, and its jup.ag frontend does not store any sensitive information. Jupiter has proactively implemented all security measures recommended by Vercel, completed rotation of all keys, and conducted a comprehensive review of system logs—no suspicious activity was found. Monitoring remains ongoing.
A whale has purchased 178,000 SOL and 10.32 million JUP within 3 days, worth $19.48 million
According to Lookonchain monitoring, a whale has once again bought 73,253 SOL, worth $7.12 million, and 2.5 million JUP, worth $620,500. Over the past three days, the whale has accumulated a total of 177,913 SOL, worth $16.92 million, and 10.32 million JUP, worth $2.56 million.
Castle Labs: The crypto market is shifting from “gambling” to “investment”; revenue generation and value returns will become the core competitiveness of tokens.
Castle Labs (@castle_labs) published a post stating that the current crypto market is undergoing a profound paradigm shift—speculative models prioritizing extraction are gradually giving way to investment logic oriented toward revenue generation. The article notes that since 2026, the broader crypto market has performed poorly: most assets have seen sustained price declines, ETF funds have continued flowing out, project shutdowns have intensified, and institutional VC investments have grown increasingly conservative. The key catalysts for this shift were last October’s large-scale liquidation event and the ongoing market reflection triggered by gold consistently outperforming Bitcoin. On the revenue data front, among the roughly 5,700 protocols tracked by DeFiLlama, only 3.5% generated over $100,000 in revenue over the past 30 days—and fewer than 1% actually distributed earnings to token holders. The article focuses on top revenue-generating protocols—including Hyperliquid (HYPE), Pumpdotfun (PUMP), Tron (TRON), Sky (SKY), Jupiter (JUP), Aave (AAVE), and Aerodrome (AERO)—analyzing their price-to-sales ratios (P/S) and token holder return metrics. It argues that protocol revenue—and its capacity to feed value back to token holders—is becoming the core metric investors use to evaluate and select projects. Regarding institutionalization trends, traditional financial giants—including NYSE, Robinhood, BlackRock, and Franklin Templeton—
Delphi Digital: Only About 12% of Newly Listed Tokens on CEXs Since January Last Year Have Outperformed Their Issuance Price, Reflecting Market Depth Imbalance
Delphi Digital has released its "Token Market Status Report," indicating that the token market in this cycle has been suppressed by multiple structural issues, including token unlocks occurring on a fixed schedule regardless of project performance, protocol revenues failing to effectively flow back to token holders, and airdrops gradually evolving into sources of exit liquidity.The report shows that since January 2025, among all newly listed tokens on major centralized exchanges (CEX), if purchased on the listing day and held to the present, an average investment of $1,000 would have dwindled to approximately $500. The median decline is 82%, with only about 12% of tokens still trading above their issuance price, reflecting a market structure that prioritizes "listing quantity over quality."Regarding tokenomic design, the research points out that across more than 400 unlock events, within a sample of 33, 28 tokens significantly underperformed relative to Bitcoin in the three weeks before and after the unlock, resulting in an average excess loss of approximately 7%. Moreover, most unlocks occur within 30 days, making it difficult for the market to effectively absorb the supply shock.The report also notes that the long-standing industry issue of "missing value accrual" is beginning to change. An increasing number of protocols are starting to use "Fee Switch" mechanisms to return revenue to token holders. For example, Hyperliquid allocates nearly all its fees to buybacks, Uniswap is burning 100 million UNI tokens, Jupiter uses 50% of its fees for buybacks locked for three years, and Aave has passed a DAO-approved weekly buyback plan of $1 million.However, the report emphasizes that fee-based buybacks alone are insufficient to resolve supply pressure. For instance, the scale of buybacks for some projects still cannot offset the selling pressure from token unlocks, leading to a situation where "buybacks only offset inflation but fail to generate net buying pressure."Simultaneously, the structure of institutional capital is shifting. Institutional holdings of Bitcoin-related ETFs like IBIT have grown 62% year-over-year, with advisory channels increasing by 204% and sovereign wealth funds and endowments rising by 228%, while arbitrage-focused hedge funds continue to exit. Long-term capital, including BlackRock, Morgan Stanley, and Mubadala Investment Company, is increasing its allocation.The report concludes that in the next phase, more attractive token assets will simultaneously feature "revenue accrual mechanisms" and "supply release structures linked to protocol performance." However, the current market remains in the early stages of structural repair.
Blockworks joins Coinbase and other crypto institutions to establish a Token Disclosure Alliance, promoting transparent disclosure standards akin to the stock market
the "Transparency Alliance," initiated by Blockworks, has been officially established, garnering support from over 40 crypto enterprises including Coinbase, Kraken, and Binance.US. The alliance aims to jointly develop unified token information disclosure standards to enhance market transparency and attract institutional capital. Based on Blockworks' Token Transparency Framework, the alliance seeks to establish a standardized information disclosure mechanism for crypto assets, similar to that of the stock market, enabling investors to gain a clearer understanding of token structures and risks.Reportedly, the framework covers details such as token issuance structure, internal holdings allocation, market maker arrangements, exchange listing terms, and repurchase mechanisms. It distinguishes between two types of document systems: "one-time pre-issuance disclosure" and "ongoing update disclosure." To date, 44 projects, including Morpho, Jupiter, Spark, and dYdX, have completed the relevant filings.Industry insiders point out that this initiative aims to establish a unified information infrastructure for the crypto market to meet institutional investors' demands for transparency and compliance. Blockworks stated that it has communicated with relevant personnel from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Analysts believe that this alliance signifies the crypto industry is accelerating its shift towards an "institutionalized information disclosure system." However, its ultimate impact will depend on whether the market translates these disclosure standards into widespread industry consensus. (CoinDesk)
Jupiter Partners with Bitwise to Launch Institutional-Grade USDe Lending Market on Solana
Odaily Solana infrastructure project Jupiter has announced a partnership with Bitwise to launch a dedicated USDe lending market on Jupiter Lend. This marks the first time an institutional asset management firm has participated in curating a lending market on Jupiter Lend.The market will be isolated from Jupiter Lend's existing liquidity pools to reduce the risk exposure of potential institutional capital, and will integrate the decentralized protocol Fluid to provide lending and collateral infrastructure support.This collaboration will offer users a new avenue to generate yields on USDe within the Solana ecosystem.
Ethena Launches USDe-Exclusive Market on Jupiter Lend, Supporting Leverage Strategies and Institutional Participation
Ethena has announced the launch of a USDe-exclusive market on Jupiter Lend. This market is fully independent from the existing Jupiter Lend deployment, with Bitwise responsible for on-chain asset management and risk supervision, and it supports institutional participation.Users can now deposit USDe, borrow, and execute leveraged USDe strategies on Jupiter Lend. Additionally, USDe can be bridged to the Solana network via Stargate Finance.
Securitize Partners with Jump Trading and Jupiter to Launch On-Chain Compliant Stock Trading on Solana
Securitize announced partnerships with Jump Trading and Jupiter Exchange to launch a fully on-chain, compliant tokenized stock trading service on Solana. The solution integrates regulatory compliance infrastructure, liquidity support, and distribution channels to build an integrated on-chain securities trading system, accelerating the migration of traditional financial assets onto blockchain.
Data: Monthly spending on crypto cards rises to $600 million, with USDT accounting for 62.5%
data from Memento Research shows the monthly spending volume of crypto payment cards has risen to $600 million, a six-fold increase from a year ago. Cumulative on-chain transaction volume has reached $7.2 billion, with a total of 24 million transactions completed, involving 1.36 million wallet addresses. Among them:1. 62.5% of transactions are settled using Tether (USDT), indicating that stablecoins are gradually becoming the underlying infrastructure for consumer payments;2. Approximately 90% of transactions are completed via the Visa network;3. On-chain data also shows that the Solana ecosystem contributed about $348 million in transaction volume, while Jupiter’s Jupiter Global saw a month-over-month growth of 660%.
Related news
Delphi Digital: Only About 12% of Newly Listed Tokens on CEXs Since January Last Year Have Outperformed Their Issuance Price, Reflecting Market Depth Imbalance
Delphi Digital has released its "Token Market Status Report," indicating that the token market in this cycle has been suppressed by multiple structural issues, including token unlocks occurring on a fixed schedule regardless of project performance, protocol revenues failing to effectively flow back to token holders, and airdrops gradually evolving into sources of exit liquidity.The report shows that since January 2025, among all newly listed tokens on major centralized exchanges (CEX), if purchased on the listing day and held to the present, an average investment of $1,000 would have dwindled to approximately $500. The median decline is 82%, with only about 12% of tokens still trading above their issuance price, reflecting a market structure that prioritizes "listing quantity over quality."Regarding tokenomic design, the research points out that across more than 400 unlock events, within a sample of 33, 28 tokens significantly underperformed relative to Bitcoin in the three weeks before and after the unlock, resulting in an average excess loss of approximately 7%. Moreover, most unlocks occur within 30 days, making it difficult for the market to effectively absorb the supply shock.The report also notes that the long-standing industry issue of "missing value accrual" is beginning to change. An increasing number of protocols are starting to use "Fee Switch" mechanisms to return revenue to token holders. For example, Hyperliquid allocates nearly all its fees to buybacks, Uniswap is burning 100 million UNI tokens, Jupiter uses 50% of its fees for buybacks locked for three years, and Aave has passed a DAO-approved weekly buyback plan of $1 million.However, the report emphasizes that fee-based buybacks alone are insufficient to resolve supply pressure. For instance, the scale of buybacks for some projects still cannot offset the selling pressure from token unlocks, leading to a situation where "buybacks only offset inflation but fail to generate net buying pressure."Simultaneously, the structure of institutional capital is shifting. Institutional holdings of Bitcoin-related ETFs like IBIT have grown 62% year-over-year, with advisory channels increasing by 204% and sovereign wealth funds and endowments rising by 228%, while arbitrage-focused hedge funds continue to exit. Long-term capital, including BlackRock, Morgan Stanley, and Mubadala Investment Company, is increasing its allocation.The report concludes that in the next phase, more attractive token assets will simultaneously feature "revenue accrual mechanisms" and "supply release structures linked to protocol performance." However, the current market remains in the early stages of structural repair.
Cryptocurrency payment card monthly transaction volume increased by 230% year-on-year in 2025, reaching a cumulative transaction value of $7.8 billion.
According to Cointelegraph, monthly payment volumes for cryptocurrency-linked credit and debit cards have surged approximately 230% year-on-year since 2025, reaching a cumulative transaction value of $7.8 billion this month. The Kobeissi Letter states that Visa processed roughly 90% of cryptocurrency card transactions by partnering with on-chain-native firms such as Jupiter Global. The report notes that adoption of cryptocurrency cards accelerated in 2026, primarily driven by the growing use of stablecoins as a payments rail—enabling users to spend stablecoins just as they would fiat currency. Earlier, OKX launched a Mastercard-based stablecoin payment card in Europe in January 2026.
Blockworks joins Coinbase and other crypto institutions to establish a Token Disclosure Alliance, promoting transparent disclosure standards akin to the stock market
the "Transparency Alliance," initiated by Blockworks, has been officially established, garnering support from over 40 crypto enterprises including Coinbase, Kraken, and Binance.US. The alliance aims to jointly develop unified token information disclosure standards to enhance market transparency and attract institutional capital. Based on Blockworks' Token Transparency Framework, the alliance seeks to establish a standardized information disclosure mechanism for crypto assets, similar to that of the stock market, enabling investors to gain a clearer understanding of token structures and risks.Reportedly, the framework covers details such as token issuance structure, internal holdings allocation, market maker arrangements, exchange listing terms, and repurchase mechanisms. It distinguishes between two types of document systems: "one-time pre-issuance disclosure" and "ongoing update disclosure." To date, 44 projects, including Morpho, Jupiter, Spark, and dYdX, have completed the relevant filings.Industry insiders point out that this initiative aims to establish a unified information infrastructure for the crypto market to meet institutional investors' demands for transparency and compliance. Blockworks stated that it has communicated with relevant personnel from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Analysts believe that this alliance signifies the crypto industry is accelerating its shift towards an "institutionalized information disclosure system." However, its ultimate impact will depend on whether the market translates these disclosure standards into widespread industry consensus. (CoinDesk)
Polymarket Plans to Enter the Japanese Market, Aiming for Approval by 2030
According to Cointelegraph, prediction market platform Polymarket is seeking entry into the Japanese market and aims to obtain regulatory approval for prediction markets from the Japanese government by 2030. The report states that Polymarket has appointed Mike Eidlin, Japan Head of crypto firm Jupiter, to lead its local operations in Japan and advance related compliance efforts. Japan maintains strict regulation over online gambling, permitting only a limited number of government-authorized activities—such as horse racing and public lotteries. Although Polymarket has not yet received authorization to operate in Japan, its Japanese regional X (formerly Twitter) account has already amassed over 53,000 followers. Meanwhile, under regulatory pressure and amid competition from platforms like Kalshi, Polymarket’s monthly nominal trading volume declined nearly 15% month-on-month in April.
Jupiter Partners with Bitwise to Launch Institutional-Grade USDe Lending Market on Solana
Odaily Solana infrastructure project Jupiter has announced a partnership with Bitwise to launch a dedicated USDe lending market on Jupiter Lend. This marks the first time an institutional asset management firm has participated in curating a lending market on Jupiter Lend.The market will be isolated from Jupiter Lend's existing liquidity pools to reduce the risk exposure of potential institutional capital, and will integrate the decentralized protocol Fluid to provide lending and collateral infrastructure support.This collaboration will offer users a new avenue to generate yields on USDe within the Solana ecosystem.
Ethena Launches USDe-Exclusive Market on Jupiter Lend, Supporting Leverage Strategies and Institutional Participation
Ethena has announced the launch of a USDe-exclusive market on Jupiter Lend. This market is fully independent from the existing Jupiter Lend deployment, with Bitwise responsible for on-chain asset management and risk supervision, and it supports institutional participation.Users can now deposit USDe, borrow, and execute leveraged USDe strategies on Jupiter Lend. Additionally, USDe can be bridged to the Solana network via Stargate Finance.