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Reintroducing Jupiter
For most of our community members, Jupiter probably doesn't need an introduction. We all know and love using Jupiter when interacting with the Solana ecosystem.
For people new to Solana, Jupiter is a decentralised swap aggregator and an important piece of infrastructure for the Solana ecosystem. It aims to provide the best price, token selection, and user experience for all users and developers.
It serves as a key liquidity aggregator, offering the widest range of tokens and the best route discovery between any token pair on the Solana network.
We've previously covered Jupiter extensively here and provided an update just before its token launch.
Reintroducing Jupiter
For most of our community members, Jupiter probably doesn't need an introduction. We all know and love using Jupiter when interacting with the Solana ecosystem.
For people new to Solana, Jupiter is a decentralised swap aggregator and an important piece of infrastructure for the Solana ecosystem. It aims to provide the best price, token selection, and user experience for all users and developers.
It serves as a key liquidity aggregator, offering the widest range of tokens and the best route discovery between any token pair on the Solana network.
We've previously covered Jupiter extensively here and provided an update just before its token launch.
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Let's recap what Jupiter offers as a key infrastructure layer for Solana.
DEX aggregator (Swaps)
The core of the Jupiter platform is the DEX aggregator. It focuses on providing the best trading experience for Solana users. The primary function is aggregating liquidity from various DEXs and automated market makers (AMMs) such as Raydium, Serum, Orca, Saber, and others to offer users the best token swap prices and routes.
Using Jupiter's DEX aggregator for normal swaps is free of charge and probably one of the best spot trading experiences in the DeFi.
Limit orders
Jupiter's limit orders allow you to buy or sell any token pair according to your specified price limit. They provide the easiest way to place limit orders on Solana, offering the widest selection of token pairs and leveraging all the available liquidity across the entire Solana ecosystem.
Jupiter charges 0.2% fees on all limit orders.
Dollar-cost-averaging (DCA)
The DCA feature on Jupiter allows you to set a fixed interval and period for your investments, automatically buying your tokens for you. This is a great option for those without time to watch the charts all day. This is a great feature for onboarding many new users on-chain. Before Jupiter, there wasn't a DEX with a DCA feature that could mimic the CEX-like experience.
Jupiter charges 0.1% on DCA order completion.
Let's recap what Jupiter offers as a key infrastructure layer for Solana.
DEX aggregator (Swaps)
The core of the Jupiter platform is the DEX aggregator. It focuses on providing the best trading experience for Solana users. The primary function is aggregating liquidity from various DEXs and automated market makers (AMMs) such as Raydium, Serum, Orca, Saber, and others to offer users the best token swap prices and routes.
Using Jupiter's DEX aggregator for normal swaps is free of charge and probably one of the best spot trading experiences in the DeFi.
Limit orders
Jupiter's limit orders allow you to buy or sell any token pair according to your specified price limit. They provide the easiest way to place limit orders on Solana, offering the widest selection of token pairs and leveraging all the available liquidity across the entire Solana ecosystem.
Jupiter charges 0.2% fees on all limit orders.
Dollar-cost-averaging (DCA)
The DCA feature on Jupiter allows you to set a fixed interval and period for your investments, automatically buying your tokens for you. This is a great option for those without time to watch the charts all day. This is a great feature for onboarding many new users on-chain. Before Jupiter, there wasn't a DEX with a DCA feature that could mimic the CEX-like experience.
Jupiter charges 0.1% on DCA order completion.
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Jupiter Perps
Jupiter also offers perp contracts on popular cryptocurrencies such as BTC, ETH, and SOL, with a maximum leverage of 100x. It closely mimics GMX's popular model, where the counterparty for perp traders is liquidity providers. Despite being more user-friendly than Zeta or Drift, only three assets are available to trade, which limits the perp trading experience. However, perps are still in the Beta phase, so we can expect that there will be more assets to trade in the future.
Jupiter Launchpad
Jupiter LFG Launchpad is a platform designed to facilitate the launch of new projects and tokens in the crypto ecosystem. It aims to provide a fair and transparent environment for project teams and investors while protecting users from scams and rug-pulls.
It is innovative and aims to improve the crypto project launch experience for project teams and investors. By leveraging the power of the Solana blockchain and the Meteora DLMM technology, the platform offers a fair, transparent, and efficient way to launch new projects.
Until now, only two tokens have been launched on Jupiter's Launchpad: Jupiter's token, $JUP itself and the memecoin, $WEN. Both launches were successful and proved that Jupiter's innovative concept works. Therefore, over 20 tokenless projects (including deBridge and Sanctum) are currently making introductions in Jupiter's forum to get a chance to launch their tokens on Jupiter.
Jupiter Perps
Jupiter also offers perp contracts on popular cryptocurrencies such as BTC, ETH, and SOL, with a maximum leverage of 100x. It closely mimics GMX's popular model, where the counterparty for perp traders is liquidity providers. Despite being more user-friendly than Zeta or Drift, only three assets are available to trade, which limits the perp trading experience. However, perps are still in the Beta phase, so we can expect that there will be more assets to trade in the future.
Jupiter Launchpad
Jupiter LFG Launchpad is a platform designed to facilitate the launch of new projects and tokens in the crypto ecosystem. It aims to provide a fair and transparent environment for project teams and investors while protecting users from scams and rug-pulls.
It is innovative and aims to improve the crypto project launch experience for project teams and investors. By leveraging the power of the Solana blockchain and the Meteora DLMM technology, the platform offers a fair, transparent, and efficient way to launch new projects.
Until now, only two tokens have been launched on Jupiter's Launchpad: Jupiter's token, $JUP itself and the memecoin, $WEN. Both launches were successful and proved that Jupiter's innovative concept works. Therefore, over 20 tokenless projects (including deBridge and Sanctum) are currently making introductions in Jupiter's forum to get a chance to launch their tokens on Jupiter.
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With all these excellent features, Jupiter aims to compete not only with DEXs but also with CEXs. It is becoming a go-to place for all crypto interactions.
Jupiter by the numbers
As discussed above, features are undoubtedly important, but are they being used?
Let's talk numbers.
Transactional volume
Since our last deep dive into Jupiter, the volumes have skyrocketed and more than tripled in 3 months.
With all these excellent features, Jupiter aims to compete not only with DEXs but also with CEXs. It is becoming a go-to place for all crypto interactions.
Jupiter by the numbers
As discussed above, features are undoubtedly important, but are they being used?
Let's talk numbers.
Transactional volume
Since our last deep dive into Jupiter, the volumes have skyrocketed and more than tripled in 3 months.
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Tokenomics
Let's look at Jupiter's tokenomics…
Circulating supply:1,350,000,000 JUP (13.5%)
Max supply: 10,000,000,000 JUP
Market cap: $1.5b
Fully-diluted market cap: $11.2b
Tokenomics
Let's look at Jupiter's tokenomics…
Circulating supply:1,350,000,000 JUP (13.5%)
Max supply: 10,000,000,000 JUP
Market cap: $1.5b
Fully-diluted market cap: $11.2b
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Trading opportunites in crypto's hottest ecosystem
Today, we have provided an updated market direction, specifically looking into altcoins, focusing on Solana ecosystem plays that may be attractive as beta plays for SOL in this bull run.
We see all of the coins below as opportunities.
However, the one that stands out most to me (Tom) currently is Nosana.
Let’s dive in!
TLDR
Today’s report focuses on altcoin opportunities, particularly in the SOL ecosystem, for the current bull run.
LINK: A relatively safe bet, but the allocation should be underweight due to the opportunity cost; target $17 to $17.7 for entries.
AVAX: Battling key resistance, potential breakout to $73; consider light exposure below $48.
PYTH: SOL ecosystem play, target the $0.72 to $0.77 buy zone if price breaks down.
SHDW: Benefiting from the Coinbase listing; consider entry if retests $1.8 support.
NOS: Promising SOL ecosystem play, target the $4 to $4.65 buy zone for considerable exposure.
Trading opportunites in crypto's hottest ecosystem
Today, we have provided an updated market direction, specifically looking into altcoins, focusing on Solana ecosystem plays that may be attractive as beta plays for SOL in this bull run.
We see all of the coins below as opportunities.
However, the one that stands out most to me (Tom) currently is Nosana.
Let’s dive in!
TLDR
Today’s report focuses on altcoin opportunities, particularly in the SOL ecosystem, for the current bull run.
LINK: A relatively safe bet, but the allocation should be underweight due to the opportunity cost; target $17 to $17.7 for entries.
AVAX: Battling key resistance, potential breakout to $73; consider light exposure below $48.
PYTH: SOL ecosystem play, target the $0.72 to $0.77 buy zone if price breaks down.
SHDW: Benefiting from the Coinbase listing; consider entry if retests $1.8 support.
NOS: Promising SOL ecosystem play, target the $4 to $4.65 buy zone for considerable exposure.
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LINK
- LINK was one of the few coins that didn't really respect its Yellow Buy Box, closing a fair bit below the box before bouncing.
- The prior price highs of the low $16s have acted as support for LINK and have done so again this time.
- Price is now moving towards the top of the range where price has previously found resistance around the $21.70 level.
- The RSI is not a concern in terms of being overbought and potentially being a headwind to further price upside. With RSI where it is, LINK can see more upside.
LINK
- LINK was one of the few coins that didn't really respect its Yellow Buy Box, closing a fair bit below the box before bouncing.
- The prior price highs of the low $16s have acted as support for LINK and have done so again this time.
- Price is now moving towards the top of the range where price has previously found resistance around the $21.70 level.
- The RSI is not a concern in terms of being overbought and potentially being a headwind to further price upside. With RSI where it is, LINK can see more upside.
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Our take
We see LINK as a relatively safe bet, considering its huge market cap. Therefore, we would have it in our portfolio, but we wouldn't have huge exposure to it due to the opportunity cost of not holding other coins we think will outperform over the coming quarters.
Regarding looking for entries, the opportunity was the Yellow box, and with price now being close to the top of its local range (at $21.70), we wouldn't suggest ape'ing in here.
If there is a retest of $17.00 to $17.70, this would be the area to leave buy orders for LINK. A more considerable price upside would come upon a breakout of $22.00, but we would expect this when BTC breaks all-time highs.
Our take
We see LINK as a relatively safe bet, considering its huge market cap. Therefore, we would have it in our portfolio, but we wouldn't have huge exposure to it due to the opportunity cost of not holding other coins we think will outperform over the coming quarters.
Regarding looking for entries, the opportunity was the Yellow box, and with price now being close to the top of its local range (at $21.70), we wouldn't suggest ape'ing in here.
If there is a retest of $17.00 to $17.70, this would be the area to leave buy orders for LINK. A more considerable price upside would come upon a breakout of $22.00, but we would expect this when BTC breaks all-time highs.
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AVAX
- I have my eye on this, as I do not have exposure to AVAX yet.
- AVAX is battling at a key horizontal level of $55.00 while forming a pennant pattern.
- If the pennant pattern sees price break to the upside, then $73 could be achieved/reached in the mid-term.
- If the pennant breaks to the downside, both Yellow Buy Boxes would be the targets. This is where we would layer Buy Orders between those points.
- The RSI is also in the middle territory, meaning this metric should provide little to no resistance for price to move to the upside.
AVAX
- I have my eye on this, as I do not have exposure to AVAX yet.
- AVAX is battling at a key horizontal level of $55.00 while forming a pennant pattern.
- If the pennant pattern sees price break to the upside, then $73 could be achieved/reached in the mid-term.
- If the pennant breaks to the downside, both Yellow Buy Boxes would be the targets. This is where we would layer Buy Orders between those points.
- The RSI is also in the middle territory, meaning this metric should provide little to no resistance for price to move to the upside.
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Our take
AVAX is another similar to LINK in that you likely want it in your portfolio but to keep it relatively underweight in comparison to plays that are more likely to outperform. We would target the Yellow boxes as Buy zones where we'd look to add light exposure if we're given the price below $48, down to $41.80.
Our take
AVAX is another similar to LINK in that you likely want it in your portfolio but to keep it relatively underweight in comparison to plays that are more likely to outperform. We would target the Yellow boxes as Buy zones where we'd look to add light exposure if we're given the price below $48, down to $41.80.
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PYTH
- PYTH is also forming a pennant pattern. These are usually bullish patterns, but in this case, they are continuation patterns. However, if price breaks down from the pennant, we will want to use it as an opportunity.
- If price does break down, we will likely be buyers of PYTH between $0.72 and $0.77.
- The RSI is also at 56, meaning there is still upside room here. Therefore price can go considerably higher from here on all timeframes.
PYTH
- PYTH is also forming a pennant pattern. These are usually bullish patterns, but in this case, they are continuation patterns. However, if price breaks down from the pennant, we will want to use it as an opportunity.
- If price does break down, we will likely be buyers of PYTH between $0.72 and $0.77.
- The RSI is also at 56, meaning there is still upside room here. Therefore price can go considerably higher from here on all timeframes.
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Our take
Despite having a market cap just north of $1b, PYTH is a solid play, and it's in the SOL ecosystem, which this cycle makes it more attractive.
With SOL having gone from $110 to $190 in the past month, an alternative to straight-up buying SOL is buying SOL ecosystem plays. PYTH is one of them. We have identified the Yellow Buy Box as the zone where we will layer buy orders. However, we appreciate we’re asking a lot, as this is a 20% decline in price to fill the Yellow Box, so we are also prepared to see our orders not be filled.
Our take
Despite having a market cap just north of $1b, PYTH is a solid play, and it's in the SOL ecosystem, which this cycle makes it more attractive.
With SOL having gone from $110 to $190 in the past month, an alternative to straight-up buying SOL is buying SOL ecosystem plays. PYTH is one of them. We have identified the Yellow Buy Box as the zone where we will layer buy orders. However, we appreciate we’re asking a lot, as this is a 20% decline in price to fill the Yellow Box, so we are also prepared to see our orders not be filled.
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SHDW
- Finally, SHDW has moved a bit with the announcement that it'll be listed on Coinbase. This has compensated for its lack of performance in recent weeks.
- The key level for price to break out from was the $1.80 horizontal resistance, which was smashed through following the Coinbase news.
- Our previous strategy was to accumulate between $0.92 and $1.05 (throughout February), which has now paid dividends.
- If price pulls back and retests the old horizontal resistance ($1.80) and can flip that into new support, that may be the place to bid SHDW again.
SHDW
- Finally, SHDW has moved a bit with the announcement that it'll be listed on Coinbase. This has compensated for its lack of performance in recent weeks.
- The key level for price to break out from was the $1.80 horizontal resistance, which was smashed through following the Coinbase news.
- Our previous strategy was to accumulate between $0.92 and $1.05 (throughout February), which has now paid dividends.
- If price pulls back and retests the old horizontal resistance ($1.80) and can flip that into new support, that may be the place to bid SHDW again.
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Our take
The Dollar-Cost-Average strategy into SHDW sub $1.00 has proven to be a good strategy, generating 120% returns for us since early February.
We would now let SHDW ride out and just hold our Spot bags, although we wouldn’t be surprised to see a slight pullback in the short term. If price were to retest $1.80, and you personally have minimal to no exposure to SHDW, that may be the place to pick up a small bag.
Our take
The Dollar-Cost-Average strategy into SHDW sub $1.00 has proven to be a good strategy, generating 120% returns for us since early February.
We would now let SHDW ride out and just hold our Spot bags, although we wouldn’t be surprised to see a slight pullback in the short term. If price were to retest $1.80, and you personally have minimal to no exposure to SHDW, that may be the place to pick up a small bag.