Solana-based on-chain DEX Jupiter has acquired a major stake in Moonshot. The application will be instrumental to the exchange as it continues to distribute its JUP tokens. Moonshot, which is also based on Solana, allows users easy access to meme coins with fiat on its app.
The acquisition is also coming at a good time for Moonshot, following its surge in patronage after it was chosen primarily to launch Donald Trump’s TRUMP meme coin. The app, which was previously rated at 309th in the United States App Store’s finance category, has jumped several places after the launch of the TRUMP token.
Jupiter continues to work on different projects
Jupiter previously announced the acquisition of SonarWatch, a tool for tracking portfolios. With the acquisition, the tool will be integrated into Jupiter, and SonarWatch will shift base to Jupiter’s portfolio tracker. SonarWatch will also disable its native SONAR token, allowing users to exchange it for JUP.
SonarWatch released a statement showing its excitement about the acquisition. “In case you haven’t heard, SonarWatch has been acquired by Jupiter. We’re joining the JUP team to build the ultimate Portfolio Tracker on Solana! We couldn’t be more excited!” the platform added. Jupiter also announced the second round of its airdrop, announcing plans to distribute 700M JUP tokens in the next few weeks.
TRUMP pushes Moonshot and Solana over the top
Moonshot has risen sporadically in the United States days after Donald Trump announced the launch of his meme coin. The application is up to number 7 in free applications while taking up the number 1 spot in banking apps. Presently, Moonshot Is ahead of other applications like Instagram and TikTok on the platform. “we were featured on $TRUMP’s website as the way to buy, processed nearly $400m in volume, crushed fiat onramp records by orders of magnitude, and brought 200k+ new people on-chain,” the platform.
However, the platform has suffered technical difficulties related to traffic volumes. The platform assured users that the issue was being resolved. Meanwhile, Solana is also winning big in the marriage of convenience, sailing upwards to inch new price marks. The token currently trades at $254.06, a slight increase of 0.6% in the last 24 hours.