Jupiter Exchange Overcomes Demand Surge, $JUP Hits $1B Cap and 30% Increase

Jupiter Exchange, a platform based on the Solana blockchain, experienced a significant surge in demand, particularly affecting its perpetual futures users ($JUP). The exchange reported that "the system is operating normally now," with "stuck or expired open position requests will be closed and the hold assets will be returned automatically." Jupiter Exchange is also exploring ways to address the situation and make amends. Following these events, $JUP saw a remarkable increase in value, reclaiming a $1 billion market cap and hitting a new all-time high, with a notable 30% increase in value in a single day.