Subscribe for notification
Tech

Jupiter DEX Acquires SolanaFM, Coinhall

Solana decentralized exchange (DEX) Jupiter has acquired SolanaFM, a blockchain explorer, and Coinhall, a multichain transaction terminal.

Jupiter, which has an active governance community and the most significant trading volume on Solana at over $313 billion, regards these acquisitions as a critical step in pursuing a tenfold increase in its DEX services.

SolanaFM, which stands out for its user-friendly explorer and comprehensive data indexing services, enhances Jupiter’s strategies. According to Jupiter’s X post from September 20, “No one is better than an explorer to 10x our data and infrastructure capabilities.”

The acquisition will not affect the operations of SolanaFM, which will continue to operate as usual and offer its services to the Solana community.

A Meme Coin Trading Hub

Jupiter also disclosed the acquisition of Coinhall, which provides services to more than 225,000 users across 23 blockchain networks. Coinhall will contribute its expertise in real-time infrastructure, pro-trading terminals, and cross-chain functionality to Jupiter as part of the acquisition.

Coinhall will also incorporate its current Solana functionalities into Jupiter’s products, further augmenting the platform’s capabilities.

Jupiter and Coinhall also collaborated to introduce the Ape’s Pro trading terminal, which was expressly engineered for meme coin trading.

For traders to make well-informed decisions, the platform will provide them with real-time streaming of new tokens, data, and statistics. Additionally, dynamic Jito fees and MEV protection can provide traders with the advantage of expedited transaction execution.

Jupiter Announces New Features and Mobile App for Solana Breakpoint

Jupiter made several announcements at the Solana Breakpoint conference in Singapore, which coincided with the acquisitions.

Jupiter intends to introduce the Jupiter Mobile application shortly to attract millions of new users to the Solana ecosystem.

Users can acquire Solana (SOL) using familiar payment methods such as Apple Pay, Google Pay, or credit cards, and there will be no fees associated with this application.

The decentralized exchange will also provide a one-tap trade feature, simplifying the cryptocurrency purchasing process for users.

Solana’s forthcoming mobile device, the Solana Seeker, is anticipated to incorporate Jupiter Mobile. The Solana Seeker, set to be released in 2025, will include artificial intelligence (AI) capabilities that enable users to generate tokenized AI agents to engage in on-chain interactions.

Jupiter also introduced Perps v2, which boasts a variety of new capabilities. Limit orders are one feature that enables traders to establish precise purchase or sell prices.

Jupiter also implemented the Dove Oracle standard, which guarantees dependable price feeds by employing chaos pricing data and Pyth as a fallback Oracle.

Ultimately, Solana’s DEX implemented gasless transactions, enabling keepers to manage transaction fees, enhancing the trading experience, and facilitating quicker execution.

According to DappRadar data, Jupiter has grown significantly over the past week. Transaction activity remained relatively stable at 9.52 million (-4.5%), while the platform’s unique active wallets (UAWs) and trading volume increased considerably to 874.7k (+84.5%) and $108.1 million (+97.4%), respectively.

Jupiter’s native token, JUP, has also experienced a substantial increase. JUP has experienced an 11.2% increase in value over the past 24 hours, reaching a price of $0.8762.

King David

David is a writer and digital marketer with a History degree. Formerly a Shill Angel at Aex Global Exchange. Currently thriving as a Cloud and AI Engineer, David is also passionate about Blockchain and Web3 technologies. Through his writing, he seeks to educate and inspire, sharing insights on the intersection of AI, Web3, and Blockchain Technology.

Disqus Comments Loading...

Recent Posts

BTC Plummets, Mt.Gox Sends $2.2B in Bitcoin to 2 Wallet

After first going to a Mt.Gox cold wallet, most of that stash—nearly 30,400 bitcoin BTC—was sent to "1FG2C…Rveoy," and 2,000…

2 hours ago

Firms Unveil Global Dollar Stablecoin Network

Major banking firms launched the Global Dollar Network, a regulated platform designed to accelerate stablecoin adoption worldwide. Crypto and traditional…

2 hours ago

Sky Co-Founder Proposes No New Token Emissions

Rune Christensen, co-founder of Sky (formerly MakerDAO), proposes a strictly deflationary model to stop token emissions, in line with MakerDAO’s…

15 hours ago

How to Buy and Sell NFTs on Bitcoin’s Ordinals Protocol

As the NFT space evolves, Bitcoin's ordinal protocol has gained traction as a new platform for creating and trading NFTs.…

4 days ago

Kraken Launches 2024 Desktop Trading App

After Cryptowatch was discontinued in 2023, Kraken Desktop, a cutting-edge trading platform with advanced charting and technical analysis, is launched.…

4 days ago

Injective Agora AUSD Connects DeFi TradFi

Agora's USD stablecoin expands its reach with a new listing on Injective, building on its existing presence on Ethereum, Avalanche,…

4 days ago