Jupiter rides Solana trading boom to $46M revenue in Q3

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Jupiter reflected the Solana trading boom, locking in over $46M in revenues for Q3. The platform, mixing a native DEX with aggregation and other services, is one of the most widely used on Solana.  Jupiter achieved $46M in revenues for Q3, securing a regular source of inflows without additional external funding. The app has become sustainable, as one of the go-to services for token trading on Solana. It saw 8.4M active wallets for the past quarter, up from 8M for Q2.  Jupiter achieved a higher baseline of fees in Q3, underscoring its revenues. Perpetual futures were the biggest factor for Q3 revenues, adding $24.6M to the bottom line. The protocol draws in $1.38B in annualized fees, remaining the top Solana app.  Jupiter improved its revenue flows from multiple activities, based on its new products turning it into a Solana super-app. | Source: Jupiter Q3 report As of October 23, Jupiter produced $4.1M in fees. The app achieved $176.8B in spot trading volumes for Q3, coinciding with demand for trading meme tokens. Jupiter expanded with perpetual futures trading, a trend which accelerated into Q4.  The platform is also among the top 5 fee producer apps, getting close to Hyperliquid’s daily fees. While Jupiter’s team has focused on building, the regular revenues were also presented as evidence of the project’s adoption.  Jupiter’s team touted the robust revenues as proof that the app had built a sustainable model and did not need new funding sources or raises. In its recent quarterly report, the Jupiter team saw significant upside for DeFi activity, as it attempted to catch up with centralized crypto markets. The platform expects DeFi users to grow by a factor of 10 in the coming months and years, tapping a larger share of traders.  Jupiter’s JUP token trades near a three-month low…