A popular crypto analyst is singling out what he thinks will be “one of the hottest tokens of the year” in 2024.
In a new YouTube video, the anonymous host of InvestAnswers tells his 464,000 subscribers to pay attention to when the decentralized exchange (DEX) Jupiter launches a token.
Jupiter is a swap aggregator and perpetual exchange built on Solana (SOL).
The InvestAnswers host points to Jupiter’s trading volume as evidence of its momentum.
“This is exactly what you call a black hole or an s-curve or whatever you want to call it. Jupiter exchange – remember there is no JUP token out there right now, so do not go buy a fake one, there are about 10 fake ones – but the Jupiter exchange hit a record all-time high of $16.64 billion in trading volume for the month of December.”
Jupiter’s pseudonymous founder, Meow, says on the social media platform X that they expect the JUP launch to happen in the fourth week of January.
“Before we start, one should note that we are not optimizing for hype or price or perfect price discovery, so please save your eyes if you expect any of the above. We will not focus on these short-sighted optimizations. This opinion, while unpopular with many in community and CT, is an hill I will die on.
Instead, we will focus JUPUARY for learning with everyone openly on how to launch a token on chain that aligns the needs of airdrop recipients, buyers, traders, team funding needs, bots and the rest of ecosystem. We will have launch test parties, do lots of explainers, share scaling plans openly, host a lot of discussions in the next 3 weeks and do a post-mortem.”
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