TL;DR
- Jupiter reported $46 million in revenues for Q3, driven primarily by perpetual futures and token trading activity.
- The platform now attracts 8.4 million active wallets, reinforcing its position as one of the top apps on Solana.
- Despite the strong financial performance, Jupiter’s native token, JUP, remains near a three-month low around $0.35 due to ongoing reward sales and token unlocks.
Jupiter recorded $46 million in Q3 revenues, reflecting the ongoing surge in Solana-based trading. The decentralized exchange, which combines aggregation, token swaps, and new DeFi services, has become a key destination for traders on Solana. Active wallets grew to 8.4 million in the quarter, up from 8 million in Q2, showing steady adoption of the platform’s features. The platform’s revenue growth is further supported by higher trading volumes in smaller altcoins and experimental tokens, which are increasingly popular among retail traders. Additionally, Jupiter continues to optimize its interface and aggregation algorithms, making trades more efficient and appealing to institutional participants as well.
Perpetual Futures Drive Most Revenue
Perpetual futures were the largest contributor to Jupiter’s revenue, generating $24.6 million in Q3. The platform now produces $1.38 billion in annualized fees, ranking among the top fee-generating apps on Solana. Spot trading volumes hit $176.8 billion for the quarter, with meme tokens and smaller altcoins driving significant activity. Jupiter also expanded its perpetual trading offerings heading into Q4, creating a consistent revenue stream. Enhanced integration with wallets and third-party DeFi services has contributed to smoother user experiences and higher engagement across the platform.
JUP Token Struggles Despite Strong Platform Growth
While Jupiter’s operations flourish, the native JUP token continues to underperform. As of October 23, it traded near $0.35, close to a three-month low, pressured by reward sales and token unlocks. The team announced adjustments, reducing JUP’s role in minor voting while integrating it more directly into platform activity, aiming to increase both demand and revenue-sharing potential.
Jupiter is also advancing toward becoming a full-fledged Solana superapp. The platform secured validator status, becoming the third-largest Solana validator, and now manages over $3.28 billion in total value locked across DEX liquidity and its lending service. A new token launchpad contributed $1.32 billion in trading volume over 34,000 launches. While still secondary to Pump.fun in meme token launches, Jupiter’s expansion shows growing influence in the Solana ecosystem.
Overall, Jupiter’s Q3 performance demonstrates sustainable growth, with diversified revenue streams and expanding DeFi offerings.
