Jupiter has started its JUP token buyback, repurchasing 4.88 million JUP worth $3.33 million. The buyback aims to reduce the number of tokens in circulation and generate consistent buying pressure. Jupiter plans to spend $50 million on JUP buybacks this year. Jupiter has remained the top DEX aggregator on Solana and has seen increased revenue from the memecoin trading frenzy. The buyback initiative aligns with the larger trend in DeFi protocols implementing token value-accrual methods.



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