Jupiter, a leading decentralized exchange (DEX) aggregator, has significantly expanded its ecosystem by acquiring two key platforms: SolanaFM and Coinhall. SolanaFM, a blockchain explorer for the Solana network, allows users to interact with and explore Solana’s blockchain data. Coinhall, on the other hand, is a DEX terminal that supports trading tools across multiple blockchains, including Solana and Cosmos.
The acquisitions, revealed by Jupiter’s co-founder Siong Ong at the Solana Breakpoint event in Singapore, are strategic moves aimed at strengthening Jupiter’s infrastructure and trading capabilities in decentralized finance (DeFi).
The acquisition of SolanaFM, announced on September 20, is expected to improve Jupiter’s data-handling capabilities significantly. SolanaFM confirmed this on social media, promising to enhance Jupiter’s infrastructure by “10x” in terms of data capabilities.
Coinhall, with a user base of over 225,000 across 23 blockchains, adds substantial value to Jupiter’s trading ecosystem by providing advanced tools for decentralized exchanges. This move is anticipated to broaden Jupiter’s reach and functionality, positioning it as a dominant player in the DeFi space.
Jupiter Expands DeFi Ecosystem with Acquisitions of SolanaFM and Coinhall, Launches New App and Upgrades
At the Solana Breakpoint event, Jupiter also introduced its new mobile app, aimed at bringing more users into the Solana ecosystem. The app, which will offer a fee-free trading experience, integrates MoonPay, allowing users to trade cryptocurrencies like Solana (SOL) using Apple or Google Pay.
The app will also feature a one-tap swap function for buying crypto and will eventually integrate with Solana’s forthcoming mobile device, Seeker, scheduled for a 2025 release. Seeker will include AI functionalities, enabling users to create on-chain, tokenized AI agents for more complex blockchain interactions.
Jupiter has more upgrades on the horizon, particularly with its memecoin trading platform, Ape.Pro. The platform will soon allow users to mint and trade memecoins via mobile devices, using social logins for easier access.
Additionally, Jupiter announced the launch of Perps v2, an improved version of its perpetual futures platform. This upgrade introduces features such as limit orders and gasless transactions, improving the speed and efficiency of trades by covering transaction fees with keepers.
The platform’s recent growth reflects its strengthening position in the market. DappRadar data shows an 84.5% increase in active wallets on Jupiter, with the number reaching 874.7k. Trading volume on the platform also saw a surge of 36.5%, climbing to $108.1 million.
Meanwhile, Jupiter’s native token, JUP, experienced a price increase of 4.12%, reaching $0.840. These developments showcase Jupiter’s expanding role in the blockchain and DeFi ecosystems, supported by its new acquisitions and technological advancements.
