JUP Price Surges 10% After SolanaFM Acquisition and New Features

• Jupiter acquires SolanaFM and rolls out major updates enhancing Solana’s ecosystem. 
• Jupiter’s RFQ feature to simplify liquidity from exchanges like Binance on Solana.
• Jupiter Mobile set to launch with 0 fees, supporting Apple Pay, Google Pay for mass adoption.

SolanaFM has been acquired by Jupiter, Solana’s leading decentralized exchange. The announcement came via SolanaFM’s official X account, where they shared their enthusiasm on the merger.

In conjunction with SolanaFM’s announcement, Jupiter also used its X account to highlight upcoming upgrades designed to improve the Solana ecosystem. Furthermore, Jupiter introduced five major updates to streamline development, boost liquidity, and support memecoin activities on the Solana blockchain.

Jupiter’s Solana Ecosystem Enhancements

Jupiter mentioned on their X account that this feature will make it easier for market makers from exchanges like Binance to provide liquidity on Solana. Also, Jupiter is gearing up to release a beta UI next week, integrating RFQ into its main routing framework.

Jupiter also announced the launch of Perps V2, an updated version of its perpetual contracts platform. Building upon the liquidity of its previous Perps V1, the new version introduces several features, such as Limit Orders, a revamped oracle system, and gasless transactions.

Read also: Jupiter Cancels Planetary Call to Focus on Breakpoint Event

To further enhance user experience, Jupiter stated that they are preparing to launch Jupiter Mobile, a friction-free app with 0 platform fees. It will support payment methods like Apple Pay and Google Pay, with the goal of onboarding millions of users into the Solana ecosystem.

For memecoin enthusiasts, Jupiter is rolling out Ape Pro, a comprehensive platform that combines trading tools with social login and token creation features.

Jupiter Price Analysis

At the time of writing, Jupiter’s price was $0.8850, showing a 10% increase in the last 24 hours. This growth has placed Jupiter among the top-performing tokens, with a trading volume of over $101 million in the past day.

Read also: Jupiter (JUP) Price Prediction 2024-2030: Will JUP Price Hit $5 Soon?

Over 24 hours, Jupiter’s price chart shows a steady increase with minor corrections. The asset’s value started near $0.78, fluctuating slightly before settling at the $0.82 to $0.84 range. Toward the end of the day, a sharp price surge pushed Jupiter to a high of $0.87, fueled by increased buying activity.

Technical indicators point to a bullish trend for Jupiter. The MACD has shown a positive crossover, with the MACD line moving above the signal line, indicating strong buying momentum.

The RSI is at 63.36, still in neutral territory but approaching overbought levels, suggesting potential for further gains before resistance is met.