Jupiter, Solana’s third-largest DeFi protocol, acquires a stake in Moonshot, though the deal’s specifics remain undisclosed.
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Solana-based decentralized exchange (DEX) aggregator Jupiter announced the acquisition of a majority stake in Moonshot, an app that allows users to buy memecoins using Apple Pay.
Meow, Jupiter’s pseudonymous founder on Jan. 25 shared the news on X:
“For the first announcement of Catstanbul, I’m thrilled to share that Jupiter Exchange has acquired a majority stake in Moonshot. The team is amongst the smartest, most driven group of people I have ever met.”
Moonshot’s popularity surged, especially following the launch of Donald Trump’s Official Trump (TRUMP) memecoin on Jan. 18.
On Jan. 1, the Moonshot app was ranked 309th in the US App Store’s finance category. However, just a day after TRUMP’s memecoin launch, Moonshot climbed to the top spot.
During TRUMP memecoin’s debut, Moonshot saw nearly $400 million in trading volume. By Jan. 20, Moonshot recorded 1 million daily active users. Launched in July 2024, Moonshot is a self-custodial app powered by TurnkeyHQ.
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Jupiter acquires SonarWatch
Jupiter also announced the acquisition of SonarWatch, a portfolio-tracking tool that is being integrated into Jupiter’s platform.
As part of the acquisition, SonarWatch will discontinue its standalone platform, migrating features and innovations to Jupiter’s portfolio tracker website.
SonarWatch’s native token, SONAR, will also be discontinued, with holders able to exchange their tokens for Jupiter’s native token, JUP (JUP), as SonarWatch integrates fully under the Jupiter brand.
On Jan. 25, Jupiter also unveiled a series of updates to its platform, which includes the introduction of “Ultra Mode,” which automates several key features such as real-time slippage estimation, dynamic priority fees, and optimized transaction handling. A new security tool called Jupiter Shield is also set to launch soon.
Source: Jupiter Exchange
The platform’s Manual Mode has been upgraded with Routing and Broadcast options, giving users more control over their trades. On the perpetual side, new features like limit orders and one-click trading have been added.
Jupiter announced that these updates are being rolled out in beta.
At the time of publication, Jupiter had not disclosed the financial terms of its Moonshot acquisition. Cointelegraph reached out for more details but did not receive any response by the time of publication.
Amid these announcements, JUP has surged 10% in the last 24 hours, trading at $0.93.
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