JUP price climbs on accumulation and revenue narratives

JUP gained 5.8% over the last 24 hours while the total altcoin market cap dropped 1.37%. The Litterbox Trust added 271,607 JUP yesterday. This addition brings the total accumulation held by the trust to 164,624,454 JUP according to the September 1 update. Traders focus on a narrative involving "PumpSwap revenue kickback vaults" that route protocol revenue into the Litterbox. The price tested a weekly downtrend resistance line near 0.2217. Technical traders identified an entry around 0.2217 with a stop at 0.21884 and targets at 0.22742 and 0.23029. While the broader market remains flat, the RSI for JUP climbed to 72.

Governance and rewards

Jupiter DAO suspended all voting activities through the end of 2025 to focus on platform expansion like the Jupiter Mobile app and Jupnet. Despite this pause, 69% of voters approved extending the Active Staking Rewards (ASR) program for at least another year. This extension uses 215M JUP tokens. The formula locks in 25% of a user’s share each month. Only 53% of the 50M JUP allocated to incentivize participation has been claimed by the 131,700 accounts that stepped forward since July 6. Out of 476,297 unique voting wallets, 60,000 wallets qualify for rewards under $10, and another 44,000 wallets receive less than $100, according to the recent data provided by Flipside Crypto at this time. Because the median claim among JUP stakers is only 47 JUP, valued at roughly $34, many users find the effort of claiming micro-allocations through the governance process to be unnecessary. The claim rate for LFG candidates was even lower, with only 2.2% of allocated SHARK being claimed. You should note that 14,000 wallets scheduled to withdraw from governance by August 7th expected to release 8.84M JUP into circulation. This release accounts for less than 1% of the total JUP supply. Why do the majority of eligible wallets still leave their rewards unclaimed?

Liquidity management on Raydium

Liquidity management on Raydium varies significantly between CPMM and CLMM models. CPMM pools compound fees into reserves automatically. In contrast, CLMM requires users to manually call collectFee to claim accrued fees. Concentrated liquidity pools allow liquidity providers to select a specific price range where liquidity remains active. Users seeking higher fee capture through range management select CLMM. Passive users select CPMM. Rebalancing a CLMM position requires realising impermanent loss and opening a new range at the new price. If the price leaves the range, the position earns zero fees. Do not open new AMM v4 positions unless you specifically need OpenBook orderbook connectivity for an existing pair.

CLMM also amplifies impermanent loss because the position acts with effective leverage. For a range from -50% to +100%, the leverage factor reaches approximately 2x. If SOL moves to $200, a 25% increase, the CLMM position results in a 6.5% impermanent loss compared to holding the assets. If the price reaches $240, a 50% increase, the loss reaches 15.8%. The loss for a range from -50% to +100% reaches approximately 2x the loss of a CPMM position over the same move.