Jupiter Takes Big Steps: Acquires Moonshot and Enhances Trading Features

• Jupiter takes a significant stake in Moonshot, further building out its DeFi business, and integrating memecoin trading with Apple Pay.
• Moonshot’s rapid expansion comes after Trump memecoin’s release, reaching $400M in trading volume and one million users per day.
• Jupiter has expanded the platform through new features; Ultra Mode, Jupiter Shield and refined Manual Mode to improve and enhance trading experience.

Jupiter, which is one of the top DEX aggregators on the Solana network, has bought a major stake in the rapidly growing Moonshot application. The news was shared on January 25 through Jupiter’s official X account and shows the company’s plans to further develop its position within the DeFi sphere. Moonshot that enables people to buy memecoins using Apple Pay has gained traction in the market within a short period since it is easy to use.

Jupiter’s Strategic Acquisition

The acquisition has been made from the rapid growth of Moonshot since its launch on January 18, of the Donald Trump memecoin (TRUMP). Moonshot’s trading volume surged to nearly $400 million in the first few hours of the release. The app reached 1 million daily active users by January 20, up from a ranking of 309 in the US App Store’s finance category. The app soared to the first positions and became popular among memecoin traders and investors.

Source: App Figures

Apart from owning a share in Moonshot, Jupiter has also purchased SonarWatch – a tool used to track portfolios of cryptocurrencies. SonarWatch is to be bundled with Jupiter’s existing platform, and the standalone offering of SonarWatch will be shut down as part of the deal. The SONAR token of SonarWatch will be retired and the platform will offer its holders the possibility of exchanging their tokens for the JUP token.

Ultra Mode Boosts Efficiency

On January 25, the platform also unveiled a range of platform improvements aimed at improving user engagement and trade effectiveness. Among them, the new feature for this version is the “Ultra Mode” which includes real-time slippage estimation, dynamic priority fees, and transaction optimization. 

According to a recent announcement, this new feature will increase the efficiency of trading on the platform. Moreover, the platform also launched a security feature called Jupiter Shield which will be integrated in the near future to address security threats.

Manual Mode of Jupiter has also been enhanced with Route and Broadcast functionalities to enable traders to have better control over their trades. The perpetual trading section of the platform now includes limit orders and one-click trading, both of which are currently in beta.

After these announcements, JUP, soared by 11.14% in the past 24 hours, trading at $0.9453. These acquisitions and updates are helping platform to gain the ground in the DeFi sector and hence cementing its role and growing the ecosystem.