Key Highlights
- Jupiter Acquires Moonshot: A majority stake in the Solana-based memecoin app to boost its ecosystem.
- SonarWatch Integration: Jupiter expands its portfolio with advanced tracking tools.
- Platform Updates: New features like “Ultra Mode” and Jupiter Shield unveiled.
Jupiter’s Strategic Acquisition of Moonshot
Jupiter, Solana’s third-largest decentralized finance (DeFi) protocol, has announced the acquisition of a majority stake in Moonshot, an innovative app allowing users to purchase memecoins using Apple Pay.
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The announcement was made by Jupiter’s pseudonymous founder, Meow, on January 25 through X (formerly Twitter):
“For the first announcement of Catstanbul, I’m thrilled to share that Jupiter Exchange has acquired a majority stake in Moonshot. The team is amongst the smartest, most driven group of people I have ever met.”
Moonshot’s popularity skyrocketed recently, especially after launching Donald Trump’s Official Trump (TRUMP) memecoin on January 18. The app achieved impressive milestones, such as:
- Rising from the 309th position in the U.S. App Store’s finance category to the #1 spot in just one day.
- Generating a staggering $400 million trading volume during TRUMP memecoin’s debut.
- Recording over 1 million daily active users by January 20.
Launched in July 2024, Moonshot operates as a self-custodial app powered by TurnkeyHQ. While the financial details of the deal remain undisclosed, industry watchers are speculating on its strategic impact.
SonarWatch Joins Jupiter’s Arsenal
In another major move, Jupiter has acquired SonarWatch, a portfolio-tracking tool, to enhance its platform capabilities. SonarWatch’s existing website will redirect to Jupiter’s new portfolio site within three months.
Platform Upgrades: “Ultra Mode” and Jupiter Shield
Jupiter also rolled out a series of significant updates to its platform:
- Ultra Mode: Automates key features, including real-time slippage estimation, dynamic priority fees, and optimized transaction handling.
- Manual Mode Enhancements: Introduced routing and broadcast options, offering users greater control over trades.
- New Perpetual Features: Added tools like limit orders and one-click trading for seamless user experience.
- Jupiter Shield: A forthcoming security tool designed to enhance user protection.
These updates are currently in beta, providing early adopters a chance to explore new functionalities.
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Market Impact
Following these announcements, Jupiter’s native token, JUP, surged by 10% in the last 24 hours, reaching $0.93 at the time of publication.
Despite requests for comment, Jupiter has yet to disclose additional details regarding the financial terms of the Moonshot acquisition.
Stay tuned for updates as Jupiter continues to make waves in the Solana DeFi ecosystem!
