Updates from Solana blockchain projects and cryptocurrency news platforms

Jupiter Exchange Acquires Moonshot on Solana, JUP Token Surges 15.7%

Jan 25, 2025, 02:17 PM

Jupiter Exchange, a leading decentralized exchange on the Solana blockchain, has acquired a majority stake in Moonshot, a platform that facilitates the trading of meme coins. This acquisition, announced on January 25, 2025, is part of Jupiter's strategy to expand its presence in the cryptocurrency market, particularly in the rapidly growing sector of meme coin trading. Moonshot gained significant attention following the launch of meme coins by Donald and Melania Trump, with its daily fee reaching a record high of $6.3 million on January 20, 2025. The financial terms of the acquisition were not disclosed. Following the announcement, Jupiter's JUP token experienced a 15.7% increase, bringing its market capitalization to $2 billion and its fully diluted valuation to $9 billion.