The Jupiter Exchange has moved to bolster its Solana blockchain position by acquiring SolanaFM. The move will enhance its data infrastructure and help to improve the service it can provide.
As well as acquiring SolanaFM, Jupiter has also added Coinhall to its group and is now in a position to offer its users access to a wider range of services and decentralized applications that will help consumers looking for the best crypto to buy now, whether they choose popular coins like Bitcoin, Ethereum, and XRP, or meme coins like Pepe Unchained.
The Jupiter Crypto Exchange Aggregator
The Jupiter DEX (decentralized exchange aggregator) was launched in 2021 and serves as a DeFi (decentralized finance) digital ecosystem that facilitates financial transactions.
It is active on the Solana blockchain and offers an extensive range of services to its users including the ability to trade between stablecoins and cryptocurrencies.
Jupiter's applications also provide payment APIs that allow its users to specify token output amounts, limit orders, and dollar cost averaging.
Jupiter is best known for its swap exchange that connects to other Solana-based exchanges.
Its high-level encryption ensures secure transactions and protection for its users.
SolanaFM Blockchain Explorer
Jupiter's acquisition of SolanaFM will help its rapid expansion by allowing it to benefit from SolanaFM's wide range of features. This includes access to historical Solana data and on-chain data analysis.
Data querying and SOL metrics and insights will provide users with valuable information that will influence their actions. SolanaFM will also provide a way for users to query Solana's network health including block production, active accounts, and TPS.
Data visualization and reliability will improve the accuracy and ability to quickly read on-chain data, while its search function makes it easy for users to find the tip programs, wallets, and tokens.
How These Acquisitions Will Improve Jupiter's Capabilities
The acquisition of SolanaFM will allow Jupiter to improve its infrastructure and data capabilities without its customers suffering from disruptions. With security threats proving to be a concern in recent months, this should allow them to continue their expansion by integrating existing technology into their service. This will allow them to free up time and resources to concentrate on strengthening security.
The addition of Coinhall will also be a big boost, bridging the gap between Cosmos and Solana chains. Jupiter will now be in a position to provide a seamless experience across both ecosystems and allow access to a more extensive selection of decentralized services and applications.
Coinhall already caters to more than 225,000 users with trading tools that span 23 blockchain networks.
Jupiter's expansion has resulted in greater confidence in JUP, its native token, and $SOL, with both showing growth that takes them into the top-performing tokens following the news.
This is an exciting time for Jupiter, and its users are set to benefit from the additional services and benefits, as well as the rise in the value of tokens associated with it.
