Jupiter climbed roughly

↗5%

over the past day following a

, though selling activity remains elevated.

Competing forces at play

The proposal to increase token buybacks and burns from 50% to 70% of platform earnings is driving price gains and trader interest, even as selling pressure persists with 1.65x more sellers than buyers over the past day.

Token burn proposal sparks activity

The community's plan to remove more tokens from circulation permanently aims to make existing tokens more scarce over time. Trading activity surged significantly over the past 24 hours, with unique traders jumping roughly

↗47%

over the same period as investors digested the news.

Selling pressure remains strong

Despite the positive development, more investors are selling than buying, with the sell-to-buy ratio reaching 1.65:1 over the past day, suggesting some holders are taking profits or reducing their positions while others accumulate.