The Jupiter trading platform reported $46 million in quarterly revenue, ensuring sustainable profits without external funding. The main source of income is fees from spot and futures trading on Solana, as well as user activity in the ecosystem.
Growth in volumes and record performance
Jupiter increased revenues through several channels, transforming into a superapp for the Solana ecosystem thanks to new products.
According to the report, Jupiter served 8.4 million active wallets during the quarter — more than 8 million in the second quarter. Fee volume grew to an annualized figure of $1.38 billion, cementing the project as the largest application on Solana by revenue.
The main reason was the futures market, which brought in $24.6 million, nearly half of the quarterly revenue. In total, trading volumes on the platform reached $176.8 billion for the third quarter, largely thanks to a surge of interest in meme tokens.
Jupiter entered the top 5 applications by daily fees, approaching Hyperliquid. The team noted that regular income confirms the sustainability of the business model and allows for development without raising capital.
Strong results, weak token
Despite the impressive dynamics, the JUP token remains under pressure. As of October 23, it was trading around $0.35 — the lowest level in three months. The reason is the sell-off of rewards and the gradual unlocking of tokens, which increased market pressure.
Nevertheless, analysts consider JUP undervalued compared to the protocol’s activity and scale. The Jupiter team also announced that it will change the tokenomics: JUP holders will vote only on key issues, and the token itself will be integrated into the platform’s economy, which should increase its demand.
Jupiter is turning into a super-app on Solana
Over the year, the project has gone from an order aggregator to a full-fledged superapp. Jupiter gained Solana validator status and now ranks third in terms of stake size. The total value locked (TVL) on the platform reached $3.28 billion, including DEX liquidity and a new lending direction.
As a validator, the project holds over $1 billion in assets and receives about $531,000 in income through the JupSOL program. These proceeds are directed to the treasury of the decentralized autonomous organization (DAO).
In addition, in the third quarter, Jupiter launched its own token launchpad. More than 34,000 assets have already been listed on it, with a total trading volume of $1.32 billion. The platform still lags behind Pump.fun, but is gradually increasing its share in the meme token niche.
What’s next?
Jupiter forecasts further growth in DeFi activity and expects a tenfold increase in the number of users in the coming years. The platform intends to develop derivatives trading and expand the functionality of the superapp, focusing on sustainable revenue and integration with the Solana ecosystem.
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