The cryptocurrency market has been experiencing a period of volatility, with several coins facing significant price drops over the past 24 hours.
Jupiter, with a market capitalization of around $635 million, was not immune to this trend, declining by 13% during this time frame.
This drop is attributed to both sentiment-driven factors and weak on-chain activity. Momentum indicators are currently pointing towards bearish control, indicating that the price may continue to fall unless buyers can challenge these trends.