The post Jupiter Strengthens Meme Coin Trading With Moonshot Acquisition appeared on BitcoinEthereumNews.com.

Jupiter, a leading decentralized exchange (DEX) on Solana, has acquired a majority stake in Moonshot, a platform designed to streamline meme coin trading. This acquisition reflects Jupiter’s strategic focus on capitalizing on the rising popularity of meme coins. Jupiter Acquires Moonshot and SonarWatch Jupiter revealed the acquisition on January 25, with its founder, Meow, highlighting Moonshot’s innovative team. “The [Moonshot] 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,” Meow said. Although specific details remain under wraps, the move is expected to enhance Jupiter’s offerings in the meme coin market. Moonshot’s unique capability to enable users to buy meme coins using Apple Pay complements Jupiter’s expertise in Solana-based token trading. Moonshot’s user base has grown significantly over the past week, particularly following the launch of the Official Trump meme coin. During the token’s debut, Moonshot facilitated nearly $400 million in trading volume, establishing itself as a rising force in the crypto space. Meanwhile, the acquisition also aligns with Jupiter’s efforts to improve user experience. The DEX has integrated portfolio tracking through its recent purchase of SonarWatch. This tool will enable users to monitor their Solana-based activity directly on the DEX platform. “While we’ve had a very successful product, our focus is now shifting entirely to Solana coverage. Our goal is to create the best-in-class Portfolio tracker! As a result, our platform will be discontinued in a few months. During this time, we’ll continue adding new protocols, but the tool will no longer be available after the transition period,” SonarWatch stated. The SonarWatch team announced plans to discontinue the platform’s native SONAR token and burn the remaining supply. They also informed SONAR holders that they could exchange their tokens for JUP. Jupiter Introduces…

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Filed under: News - @ January 25, 2025 5:12 pm