Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn

SolanaFM acquisition by Jupiter aims to advance Solana’s ecosystem

GrafaGrafa2024/09/23 00:50
By:Mahathir Bayena

Jupiter Exchange has acquired SolanaFM, a key Solana (CRYPTO:SOL) blockchain explorer, with the goal of enhancing Solana’s data and infrastructure capabilities. 

The acquisition is expected to improve functionalities for the Solana community, with both parties highlighting the potential for accelerated development. 

In a post on September 20, Jupiter (CRYPTO:JUP) stated that the acquisition would boost its data and system capabilities. 

SolanaFM, founded in 2021 by students from Singapore Management University, provides insights into transaction histories, smart contracts, and token information on the Solana blockchain. 

The platform will continue to operate while contributing to Jupiter's growth. 

SolanaFM raised $4.5 million in seed funding in 2022, with backing from SBI Group’s Digital Asset Opportunity Fund and other investors. 

It also received support from Ethereum (CRYPTO:ETH) explorer Etherscan and crypto wallet provider Coinhako during its initial funding phase. 

At the annual Solana Breakpoint conference, Jupiter announced several updates, including the launch of Metropolis API, aimed at simplifying development on Solana with new token, price, and swap APIs. 

Additionally, Jupiter introduced its new perpetuals trading platform, which includes limit orders, gasless transactions, and an advanced oracle system. 

Jupiter also plans to launch Jupiter Mobile, an app that will allow users to swap tokens using Apple Pay, Google Pay, or credit cards with no platform fees. 

The app aims to facilitate the onboarding of new users to Solana. 

This acquisition follows a recent security alert from Jupiter regarding a malicious Chrome extension called “Bull Checker,” which was targeting Solana users. 

Despite these challenges, Jupiter continues to focus on advancing Solana’s infrastructure through its developments and partnerships. 

At the time of reporting, the Jupiter (JUP) price was $0.8243, while the Solana (SOL) price was $144.71.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Stake to earn
CEC, QTLX, GDV and other popular new coins are in hot progress!
Stake now!