Jupiter's Price Surge Driven by Accumulation and Momentum

The price of Jupiter (JUP) has risen by about 5.8% over the last 24 hours, but what's behind this move? There isn't a single clear catalyst driving it.

According to CoinMarketCap, the accumulation of JUP by the Litterbox Trust is one factor contributing to its price increase. The trust added 271,607 JUP 'yesterday' and now holds a total of 164,624,454 JUP. This shows ongoing buy-side demand and a growing long-term holding overhang.

A widely-circulated thread by a trader also mentions the protocol revenue kickback vaults that are flushed into the Litterbox. The trader argues that multiple protocol revenue streams could be routed into these vaults, which could have a positive impact on JUP's price in a bull market.