Solana’s Jupiter pumps 12%, this might be the reason

Solana based decentralized exchange aggregator, Jupiter, seems to be gone on a buying spree as the crypto bull run took a halt before entering into the next phase. The exchange announced the acquisition of some leading aggregators at the ongoing 2024 Solana Breakpoint conference.

Jupiter’s native token JUP turned out to be the biggest gainer of the day among the biggest 100 cryptos as its price jumped by over 12%. It is expected that the decentralized exchange’s latest move will also push Solana to breach new heights.

Jupiter DEX acquires SolanaFM and Coinhall

As per the announcement, Jupiter acquired SolanaFM and Coinhall in the latest turn of events. SolanaFM is a platform that provides access to the Solana blockchain’s historical data, analytics and more. The DEX stated that adding SolanaFM to its suite will enhance its data and infrastructure capabilities tenfold.

The acquisition of the leading aggregator in Cosmos, Coinhall, comes as a big move to expand Jupiter’s capabilities. Coinhall highlighted that Jupiter is the top DEX aggregator by volume in the entire Web3, and the #1 Perp DEX on Solana.

Coinhall is expected to bring its expertise in pro-trading terminals, real-time infra, and cross-chain into Jupiter’s giga chad team. However, the platform will continue its business as usual but will operate as a platform and brand under the Jupiter umbrella. It will focus primarily on the Cosmos and EVM ecosystems. This will be done while consolidating its Solana integrations into Jupiter products.

It mentioned that the previous plan of Hallchain will be discontinued through this consolidation as their team will now focus on building up the Jupiter family. The DEX has also embraced the Coinhall’s 225,000 strong trader community and looking out for plans on converting Hallswap users into Jupiter users. 

Jupiter also announced that its Jupiter Mobile with a mission to make friction-free to use Solana. It added that Jupiter Mobile will launch soon with zero platform fees and a full on-ramp using Apple/Google Pay or Credit Cards. The application will be coupled with a 1-tap swap experience.

Solana reclaims the $150 mark

Post these massive announcements, Solana and Jupiter had recorded a major pump. JUP price jumped by 12% in the last 24 hours. This ongoing surge has helped the token to cleanse its past losses. Its 24-hour trading volume spiked by 35% to stand at $115.8 million. Jupiter is trading at an average price of $0.87, at press time.

Solana price jumped by almost 9% over the last 24 hours helping it to regain the crucial $150 mark. Its 24-hour trading volume is up by 6% to stand at $3.11 billion. SOL is trading at an average price of $150.92, at press time.