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The TON foundation has announced a new partnership with Jupiter ($JUP) to start a new liquidity aggregator on the TON blockchain.
According to the official announcement published on December 31st , the partnership aims at improving TON’s liquidity aggregation through the optimal deployment of TON’s Virtual Machine (TVM) liquidity aggregator and open the door for cross-chain swap integrations that will influence DeFi’s future.
The partnership comes as $TON and $JUP both have been trading down. At the press time, TON is trading down over 2% while JUP is in red territory facing a downward trend of about 2.2%.
What Will The Partnership Include?
According to the official announcement, TON can further empower developers and traders by giving them the resources they need to succeed in the DeFi market by allowing users to access liquidity and find the best rates across blockchain networks, via the collaboration.
Jupiter and the TON Foundation are beginning this new partnership by holding a DeFi competition to encourage innovation in the TON ecosystem.
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Commenting on the partnership, Meow, Co-founder of Jupiter said “TON is one of the most exciting and untapped blockchains in the space, with immense potential for growth once the ecosystem is unlocked. This is an awesome initiative by TON Foundation to grow the space, and we are delighted to support and get to know the best talent here.”
Additionally, Vlad Degen, DeFi Lead at TON Foundation added “We’re thrilled to collaborate with Jupiter as we continue to expand the TON DeFi ecosystem. Our past collaboration with similar partners in this field earlier this year motivated us to pursue a similar partnership with Jupiter. We believe this collaboration will bring immense value to TON and help establish a thriving cross-chain future.”
TON Technical Indicators: What Do They Say?
TON has seen volatile trading in the past couple of weeks, making many wonder if the coin will pick pace in the future. According to market technical indicators, the Fear & Greed Index for the coin is currently displaying 65 (Greed), and the sentiment being bearish.
Over the previous 30 days, Toncoin had 15/30 (50%) green days and 8.50% price volatility. With six technical analysis indicators indicating optimistic signals and twenty indicating negative signs, the overall sentiment for the Toncoin price prediction is rather dull.
JUP Technical Indicators: What Do They Say?
Singing the same tone as TON, the Fear & Greed Index for JUP is currently 64 (Greed), and the sentiment is bearish. Over the past 30 days, Jupiter’s price volatility has been 17.62%, with 14 out of 30 (47%) days being green.
The general Jupiter price forecast attitude is pessimistic, according to market parameters. Additionally, two technical analysis indicators for the coin at present indicate bullish signs, while 22 indicate bearish signals.
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