Jupiter DEX Acquires SolanaFM and Coinhall, Launches Mobile App and New Features
Jupiter, a leading decentralized exchange (DEX) on the Solana blockchain, has announced the acquisition of two prominent platforms: SolanaFM, a blockchain explorer, and Coinhall, a multichain trading terminal. With over $313 billion in trading volume and an active governance community, Jupiter aims to significantly enhance its services through these strategic acquisitions.
Strengthening Infrastructure with SolanaFM
SolanaFM is well-regarded for its intuitive blockchain explorer and extensive data indexing services. Jupiter sees this acquisition as a pivotal move in enhancing its data and infrastructure capabilities. According to a statement on Jupiter’s social media, “No one is better than an explorer to 10x our data and infrastructure capabilities.” Despite the acquisition, SolanaFM will continue to operate independently, serving the Solana ecosystem as usual.
Expanding Trading Capabilities with Coinhall
Coinhall, a multichain trading terminal serving over 225,000 users across 23 blockchain networks, also joins the Jupiter ecosystem. The platform is known for its advanced trading features, real-time data, and cross-chain functionality, which will now be integrated into Jupiter’s services. Coinhall's existing Solana functionalities will further enhance Jupiter’s offering, especially with the introduction of the Ape’s Pro trading terminal. This new platform is specifically designed for meme coin trading, providing traders with real-time data, charts, and faster transaction execution, aided by dynamic Jito fees and MEV protection.
Jupiter Mobile App and New Features Announced at Solana Breakpoint
Alongside these acquisitions, Jupiter revealed new developments at the Solana Breakpoint conference in Singapore. The company is set to launch the Jupiter Mobile app in the coming months, with the goal of bringing millions of new users into the Solana ecosystem. The app will feature zero-fee transactions and allow users to purchase Solana (SOL) using convenient payment methods like Apple Pay, Google Pay, and credit cards. Additionally, the app will offer a one-tap swap feature to simplify crypto purchases.
Jupiter Mobile is expected to be integrated into the Solana Seeker, a mobile device slated for release in 2025. The Solana Seeker will come equipped with artificial intelligence (AI) capabilities, enabling users to create tokenized AI agents that interact on-chain.
Perps v2 and Other Platform Upgrades
Jupiter also introduced Perps v2, an upgrade that includes several new features for traders. These include limit orders, allowing users to set specific buy or sell prices, and the Dove oracle standard, which ensures reliable price feeds through chaos pricing data and Pyth as a backup oracle. Additionally, Jupiter has rolled out gasless transactions, where keepers handle transaction fees, resulting in faster transaction execution and a smoother trading experience.
Platform Growth and JUP Token Surge
According to DappRadar, Jupiter has experienced robust growth recently. Over the past week, the platform’s unique active wallets (UAWs) surged by 84.5%, reaching 874.7k, while trading volume jumped 97.4% to $108.1 million. The platform's transaction activity remained steady at 9.52 million, down slightly by 4.5%.
Jupiter’s native token, JUP, has also seen a sharp increase in value. In the past 24 hours, JUP rose by 11.2%, hitting a price of $0.8762, reflecting growing investor interest and confidence in the platform’s future.
Jupiter's latest acquisitions and innovations mark a significant step forward in its mission to enhance the decentralized trading experience on Solana.
