In a significant move to strengthen the Solana Ecosystem, Jupiter Exchange, a leading decentralized exchange (DEX) on Solana, has acquired SolanaFM, a native Solana Blockchain explorer. The acquisition aims to enhance Jupiter’s data and infrastructure capabilities, positioning the platform for further growth and innovation.
FM x JUP
We’re excited to announce that SolanaFM has been acquired by @JupiterExchange, @solana’s leading decentralized exchange. pic.twitter.com/pJ3LA8F8sp
— SolanaFM (@solanafm) September 20, 2024
Strategic Acquisition of SolanaFM
Jupiter Exchange’s acquisition of SolanaFM is a strategic move to leverage the explorer’s expertise and technology. The explorer has been operating for three years, providing in-depth insights into Solana’s blockchain. The team’s experience and knowledge will enable Jupiter to enhance data analytics and visualization, improve infrastructure scalability and reliability and to expand its ecosystem offerings.
Moreover, SolanaFM’s expertise will also offer Jupiter Exchange to develop more sophisticated data tools, optimize transaction processing, and build a robots and transparent ecosystem.
The aquisition aligns with Jupiter Exchange’s vision to create a comprehensive DeFi hub on Solana. Jupiter now aims to strengthen as a leading Solana DEX, enhance user experience through data visualization and drive innovation in the SOL ecosystem.
The acquisition comes on the heels of the release of Solana phone Saga, and Play Solana Gen1 first handheld gaming device in the SOL ecosystem.
The news has been met with enthusiasm from the SOL community. Even though the integration is yet to commence, the community is excited to see what the future holds.
Price Action
At press time, the price of $SOL is at $150.53 with a surge of 7.9% in the last 24 hours as per CoinGecko. Jupiter’s native token JUP, has also experienced an uptick, surging by 7.74% in the last 24 hours as per CoinMarketCap, reaching a price of $ 0.862. This growth has placed Solana and Jupiter among the top-performing tokens, with technical indicators pointing to a bullish trend.
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Source: https://www.cryptonewsz.com/jupiter-expands-sol-ecosystem-solanafm-deal/