Jupiter [JUP] surged more than 15% in 24 hours, with weekly gains in double digits and a 48% monthly increase, extending year-to-date returns past 100%. Jupiter overtook Kamino Finance to become Solana’s largest lending market with $1.214 billion in active loans, representing nearly half of all capital borrowed on the network and a 14% growth over 30 days. Jupiter’s TVL increased by over $500 million since mid-August, while the protocol burnt more than 134 million JUP tokens out of total buybacks reaching 175.35 million. Technically, Jupiter broke out from a sideways range between $0.3136 and $0.3505, targeting $0.45 next, but its negative correlation with SOL (-0.27) and deteriorating Solana ecosystem sentiment indicate that lending dominance alone cannot sustain the uptrend.
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