I think this is just the price chart for the OLD JUP token on Solana, and it's been around since May 2021. I don't follow the development of the Jupiter project, but maybe they had the OLD JUP token at very low price.
Maybe it can happen but the Jupiter platform has never released a coin except now and the jup coin I discussed above does not have an SC on the solana network while this Jupiter project was first built only on the Solana network and not on other networks.
In my opinion, the gate.io team accepts coins without any research and they only think about money.
There is some misunderstanding here and I would like to clarify: GateIO has a token price quote service so people can check token price charts more easily. Not all quoted tokens are traded on GateIO.
We have 2 tokens with JUP ticker from 2 projects with the same name Jupiter.
1. JUP(1) costs $0.55 is the token of the famous Jupiter project on Solana, it is being traded on GateIO:
https://www.gate.io/trade/JUP_USDT.
2. JUP(2) token costs $0.0058 of a project also named Jupiter:
https://coinmarketcap.com/currencies/jupiter/GateIO's quote this project token:
https://www.gate.io/price/jupiter-jup.
GateIO mistakenly put the wrong symbol. This is the symbol of JUP(1) token.
In addition, in the Trade box, they link to the trading pair of JUP(1).
JUP(2) token is not listed on GateIO, we cannot trade it.
On GateIO, only JUP(1) is listed.
>> GateIO only made mistakes with token symbols and links leading to trading, GateIO did not intentionally list fake tokens to deceive users.
Someone can inform GateIO about this so they can correct it. Just send them link to this post 🤣