Jupiter (JUP) skyrockets 13% as SolanaFM acquisition sparks investor excitement
Jupiter Token (JUP) surged nearly 10% in the last 24 hours, reaching US$0.866, driven by significant developments, including the acquisition of SolanaFM, a blockchain explorer. The surge boosted Jupiter’s market capitalization to US$1.16 billion, with a trading volume of US$129.1 million.
Co-founder Siong Ong made the announcement at the Solana Breakpoint event, revealing that Jupiter’s strategic move is set to expand its ecosystem and functionality.
In addition to the SolanaFM acquisition, Ong also unveiled Jupiter’s acquisition of Coinhall, a leading aggregator in the Cosmos ecosystem. Coinhall supports swaps across decentralized exchanges and has over 225,000 users spanning 23 different blockchains. While the financial terms of both acquisitions remain undisclosed, these deals have created a positive wave in the market.
Ong brought new innovations through the Jupiter Mobile app that was a collaboration with MoonPay. With this, users can pay for apps through Apple or Google Pay, without any platform fees. Moreover, Jupiter is introducing Ape.Pro, which is a more advanced memecoin trading platform and will allow users to mint and trade meme coins through social logins directly from their mobile phones.
Finally, Ong informed about the new Metropolis API platform which is meant to make liquidity management for developers more understandable and straightforward. The token, price, and swap APIs will be brought together into one organized, more accessible service, and this technology will result in a more productive and highly efficient workflow for the developers and easier access to liquidity. These changes should be enough to support Jupiter Token’s growth for the next few months.