You're about to get an honest review and a realistic price prediction for Jupiter. In my opinion this is an extremely risky investment that's dramatically overvalued, and I don't want to see you lose any more money. I want you to be wealthy and to grow in your financial success. I'm tired of watching people get ripped off and destroyed on projects like this, so let me walk you through exactly why I'm sharing this with you.
A market cap that makes no sense
When I look at Jupiter, the first huge problem I see is the fully diluted market cap of around 7.56 billion dollars. That's the whole market cap together, and it's twice as large as the Internet Computer Protocol, which in my view has the absolute best technology in crypto. To me that is dramatically overvalued. All Jupiter really is, the way I see it, is a token on Solana. The token itself cannot have real legal ownership over anything to do with Jupiter and the exchange, and it cannot have ownership by code either, because all the important things are controlled by them off-chain. If you go to the Jupiter website at jup.ag, all of that infrastructure is controlled by the team off-chain.
That means, in my experience looking at projects like this, your token is completely speculative. It's basically a meme coin where you're hoping people will use the website and the coin, even though the coin itself is, the way I see it, fundamentally worthless.
The token unlocks worry me the most
There's a huge amount of token unlocks coming, and I believe those will drain the liquidity and take the price toward zero as soon as people start asking what the real value here actually is. There's no real technology that the token itself owns or controls. The price has gone nowhere overall in the last year. It's hype and speculation.
You can see the token unlocks right on CoinMarketCap, and they're crazy. There are billions and billions of dollars of tokens that are going to get dumped on the heads of everybody holding this, including team holders and all kinds of other holders. The unlock schedule shows big cliff unlocks. They just jump right off that cliff and, in my view, destroy the price completely. It looks like a big one came unlocked recently, and you can already see it trending down.
Everything rides on Solana
If we look at more details, Jupiter describes itself as one of the most advanced swap aggregation engines. Do you even know what that means? Jupiter says it excels in delivering liquidity for Solana, so all of this is based on the Solana ecosystem. If the Solana ecosystem fails, which I believe it absolutely will because I see Solana's tech as fundamentally weak, then Jupiter goes with it.
What's strong, in my opinion, is the Internet Computer Protocol, which I believe will make a real difference to the world by helping prevent cybercrime. I've made tons of videos on my main Jerry Banfield crypto channel describing why I think Internet Computer is the best technology in crypto. If Solana goes where I think it's going, which is to zero, then everything on Solana goes down with it, and that includes Jupiter. It has no real value proposition that I can see beyond speculative meme coin trading and hype around worthless tokens.
Even if I'm wrong about Solana, there are all kinds of other things that can be built, and there is practically infinite competition for something like Jupiter. And again, it's a token, so there are many different ways the token itself can go down even if Solana did well. To me there's just risk on top of overvaluation.
Decentralized in name only
I don't believe it's accurate to call this a real decentralized exchange platform, because the Jupiter team controls the website, and every transaction you send has to go through that middleman website in order to interact. In my view that is not decentralized. Unless they built the infrastructure on ICP, which I don't see anywhere, it doesn't qualify. Theoretically, if it were on the Internet Computer Protocol, you could try to claim it's decentralized, but then why would you invest in this token at all? If it were built in a truly decentralized way, you'd be looking at it being built on Internet Computer anyway. So it doesn't make sense to me.
Scroll down and look at the founders. The founders are listed as Fabiano Solana, Rolex Gold, and someone named Meow or Mei. On one of the YouTube videos they introduce the co-founders, Meow and Xiong. I hope those are real names, though with names like Fabiano Solana and Rolex Gold I suspect these could be nicknames. I do like that you can actually see the co-founders of Jupiter on the YouTube channel. That is at least a good sign. However, it's one good sign in the middle of a whole bunch of bad ones.
The holder data and the volatility
Looking at the Jupiter token scan, there were about 990,000 token holders roughly a week ago, and almost 10,000 holders have dumped this in the last week alone. That is some serious volatility. Can you handle that level of volatility? This is exactly why I would never hold a token like this.
In my experience, it only makes sense to invest in tokens you actually use every day. It might make sense for someone who uses the Jupiter exchange every single day, but if you're just holding this and hoping the price goes up while never using it, I think that's insane. As people have said about stocks, it makes a lot of sense to buy a product from a company, use it, and like it first, and then maybe invest. Why would you invest in this unless you're using it every day?
My gut feeling is that a lot of bots artificially push the volume and transactions. That said, on the holders there's no deception that I can see. Look at the top 20 holders. Everyone outside the top 20 holds only about 11 percent, while the top 20 holders control somewhere around 88 percent of the supply. Whatever the exact figure, they hold a lot. So why would I want to feed the top 20 holders at this point?
A DAO with no real power
If you go over to the DAO, this is problematic too, because again you have to go through their website. They could do whatever they want regardless of how the DAO votes. To me this is a DAO in name only. From everything I can see, it does not have true power, because ultimately you need developers to go in and actually do whatever the DAO votes for.
We've seen this before with things like Arbitrum. When that came out, I said people were going to get ripped off and that it was a useless token. The first thing that happened was the DAO voted one way and the team did the opposite, then said, well, we were just asking for an opinion. That's a DAO token valued in the billions at release acting as basically a polling mechanism. You can run free polls on X. You don't need to release a billion dollar token to do polls. I see the same basic issue with Jupiter: a DAO in name only that in truth has no real power. They even call it the first voting platform for cats in history. I'm someone who likes to be playful, but on a DAO page I'm not sure voting for cats is the place for it.
Limited use cases and lofty goals
If you look through the guides, they do have a good number of links across the different guides. But the use cases are extremely limited. This is all about swapping tokens on Solana. You can't use the technology to do much of anything else, which to me makes it fundamentally useless to planet Earth. Planet Earth wants to solve big problems like cybercrime. Planet Earth wants to be able to share ownership. Jupiter doesn't do anything valuable for planet Earth that I can see.
I'm genuinely impressed they have 584 videos on their YouTube channel. As someone who has created more than 10,000 videos, I respect the grind. That said, for a token with a market cap this big, I'm not seeing that many views, and I'm not seeing anything on their channel that's blowing me away. That's why I would not invest in this project. I believe this goes to zero. Looking at what they're talking about on X to understand what they're doing with the token, JUP is not an asset to me. It's an extremely speculative, high-risk coin that I believe has no fundamental value and is likely to go to zero.
I don't see how these lofty goals have any realistic chance of being accomplished, especially when you have something as powerful as Internet Computer available today. If you want to go deeper on how I think about putting your money to work, you're welcome to dig into my Money playlist, and you can come chat with me in OpenChat anytime.