Will the 30% supply burn of $JUP have a positive impact on the token?🔥

Weremeow, co-founder of Jupiter Exchange, said the gradual burn will increase confidence and stability among long-term investors. This increased confidence may attract more investors to the market, further pushing the token price higher.

Reducing the supply typically increases the scarcity of a token, potentially driving up its market value. This strategy is not uncommon in the cryptocurrency market and often excites investors in anticipation of price increases as supply decreases.

A 30% destruction of the $JUP supply will most likely have a positive impact on the token**. According to search results, Jupiter Exchange recently announced a proposal to reduce the supply of its native token Jupiter (JUP) by 30% over six months. This plan includes burning tokens held by the development team, reducing the total supply from 10 billion to 7 billion.