tl;dr
Jupiter Exchange has reduced borrowing fees for Bitcoin, Ethereum, and Solana from 0.01% to 0.008%. The move has sparked positive market sentiments, with increased activity expected. Despite the wider market remaining low, the reduction in borrowing rates could lead to heightened market activity. Bi...
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Jupiter Exchange cuts borrowing fees for BTC, ETH, and SOL, fueling market activity. Jupiter Exchange has reduced borrowing fees for Bitcoin, Ethereum, and Solana from 0.01% to 0.008%. The move has sparked positive market sentiments, with increased activity expected. Despite the wider market remaining low, the reduction in borrowing rates could lead to heightened market activity. Bitcoin, Ethereum, and Solana prices have seen declines in the last 24 hours.
Home / News / Jupiter Exchange Cuts BTC, ETH, SOL Borrowing Fees, Here’s What To Expect
JUPITER EXCHANGE CUTS BTC, ETH, SOL BORROWING FEES, HERE’S WHAT TO EXPECT
Jupiter Exchange announced a reduction in Bitcoin, Ethereum, and Solana borrowing rates with users projecting increased activity. By David Pokima 9 hours ago Ybets Twitter Jupiter JUP Solana DEX Ecosystem Token API
HIGHLIGHTS
- Jupiter Exchange disclosed cuts in borrowing fees for three crypto assets.
- The platform lowered borrowing fees of SOL, BTC, and ETH from 0.01% to 0.008%.
- Users project increased market activity amid the recent decline.
Jupiter Exchange reduced borrowing fees on its platform sparking positive sentiments in the market. The platform disclosed a reduction from 0.01% to 0.008% per hour of Solana (SOL), Bitcoin (BTC) and Ethereum (ETH). The move has ignited positive interest from the community although the wider market sentiments remain low.
Jupiter announced a cut in borrowing rates of three major assets following recommendations and inputs from Gauntlet. X (formerly Twitter) user and the exchange developer, anyhauu noted that rates were reduced for SOL, BTC, and ETH and have seen increased activity since the move.
According to the report released following the development, the company remains attractive to crypto traders in leading centralized exchanges gaining advantages. Gauntlet highlighted that with the blended utility of SOL hitting 82.4%, the asset’s utilization hit 45% showing moderate demand. This led to the recommendation of slashed borrowing rates.
At press time, the crypto market remains in the red zone with Bitcoin price sliding below $59,000 following negative market sentiments. Reducing borrowing rates from BTC, SOL, and ETH could lead to increased market activity spurring inflows in the market. The move from Jupiter can also impact other platforms within the ecosystem. Ethereum price stands at $2,464, dropping 4.31% in the last 24 hours while Solana (SOL) trades at $134.18, a sharp 7% decline in the same timeframe.