Jupiter exchange, a Solana’s on-chain DEX, acquired a majority stake in Moonshot. The application is instrumental as the exchange continues to distribute JUP tokens. Moonshot, which is also deployed on Solana, enables the direct purchase and trade of memecoins with fiat currency on the App Store.
The purchase comes at an opportune time for Jupiter as Moonshot’s popularity has increased exponentially, especially following the launch of Trump’s official memecoin (TRUMP).
As of January 1, the Moonshot app was rated 309th in the US App Store’s finance category. However, it jumped to first place just a day following the TRUMP memecoin launch.
For the first announcement of Catstanbul, i’m thrilled to share that @JupiterExchange has acquired a majority stake in @moonshot.
The team is amongst the smartest, most driven group of people i have ever met & it has been incredibly fun jamming on the future of memes together.… https://t.co/crYwv8ZUNr pic.twitter.com/TmAo2O4sjZ
— meow (🐱, 🐐) (@weremeow) January 25, 2025
Jupiter introduced a new tool to integrate Pump.fun and Moonshot last year. This gave traders a chance to directly purchase early liquidity tokens. Moonshot’s main job was to provide clearer information about liquidity pairs. With a majority stake, this means more access for Jupiter’s future projects.
Jupiter is working on different projects
Jupiter announced the purchase of SonarWatch, a portfolio tracking tool that will be integrated into its platform. As part of the purchase, SonarWatch will stop using its own platform and move its features to Jupiter’s portfolio tracker website.
Btw, we also acquired the chads at @SonarWatch.
Today, we’re releasing https://t.co/vl23rMwCYB, built by them.
Interact and track your Solana activity, integrated into Jupiter today. Coming soon for Mobile as well. pic.twitter.com/xnNROANqRd
— Jupiter 🪐 (@JupiterExchange) January 25, 2025
In addition, the native token of SonarWatch, SONAR, will be discontinued. Holders will be able to exchange their tokens for Jupiter’s native token, JUP, as SonarWatch completely integrates under the Jupiter brand.
Sonarwatch confirmed the integration, saying, “In case you haven’t heard, SonarWatch has been acquired by Jupiter. We’re joining JUP team to build the ultimate Portfolio Tracker on Solana! We couldn’t be more excited!”
Jupiter DAO also announced the availability of a new version of “jup.ag” online. It includes updates like Super Mode for developers and consumers.
It has also upped trade with real-time slippage estimation, manual mode, trigger orders, organic ratings, and token list V3.
The platform’s manual mode has been improved to include routing and broadcast options. It will provide users with increased control over their transactions. These updates are being rolled out in beta.
Earlier this month, Jupiter announced its second airdrop. The company plans to distribute 700M JUP tokens over the next few weeks.
The airdrop, which is the second portion of the project’s planned rewards program, is valued at approximately $560M. The program’s objective is to enhance the project’s user base and encourage developers to introduce new assets that rely on Jupiter’s platform to enhance their liquidity.
Meanwhile, investors have been attracted to the exchange because it brings together different options. It lets them find prices for different trading pairs from several DEXs like Raydium and get the best price for the product they want to trade.
JUP has surged 10% in the last 24 hours, trading at $0.93.
Trump’s memecoins push Moonshot over the top
After President Trump’s announcement of the $TRUMP memecoin, Moonshot rose to the top of the US Apple App Store. The application sits at the number 1 banking app and the number 7 free app overall.
Notably, Moonshot surpassed major apps like Instagram and TikTok on App Store ranking
The Pump.fun’s rival was listed on $TRUMP’s official website as the recommended destination to purchase the token. Anyone can purchase TRUMP on the platform with crypto, debit cards, or Apple Pay.
The team posted, “we were featured on $TRUMP’s website as the way to buy, processed nearly $400m in volume, crushed fiat onramp records by orders of magnitude, and brought 200k+ new people on-chain.”
However, the platform encountered technical difficulties due to the volume of traffic at one point. Still, Moonshot assured users that they were resolving the matter.
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Source: https://www.cryptopolitan.com/jupiter-acquires-major-stakes-in-moonshot/