News flow is very important these days and BTC altcoins are announcing major partnerships while setting new records. These partnerships will have significant results in favor of altcoins in the long run. We have just learned that Ethena and Jupiter will act together for the new stablecoin, which is also very important for the Solana ecosystem.
Jupiter (JUP) Coin Rise
Following the announcement, the JUP price increased by approximately 5% to over $0.46. In the medium and long term Ethena The new stablecoin they will launch with may cause the price to increase even further. Ethena Labs will launch JupUSD alongside Jupiter, a Solana-based stablecoin will be. The new stablecoin, backed by the team behind USDe, will transform $750 million in assets in Jupiter’s Liquidity Provider Pool.
It will break the USDC dominance on the Solana network and solana We will see that this move, which will increase the strength of the ecosystem, is supported by the conversion of 750 million USDC in the liquidity pool to JupUSD in the first stage.
“As part of the integration, JupUSD will operate (1) as collateral on Jupiter’s decentralized perpetuals exchange; (2) as the primary stablecoin for our trading interfaces and Jup Mobile; (3) as a key liquidity hub on Jupiter Lend; (4) as a liquidity matching token on Jupiter’s key DEX partner Meteora; and (5) as a liquidity matching token on Jupiter’s key DEX partner Meteora. “It will be available for all new products in the ecosystem.” – Official Announcement (JupUSD in 5 Stages)
JUP price increased with the announcement, and the growth of the new stablecoin may support the price increase.
