As a seasoned analyst with years of experience in the crypto space, I find this latest move by Jupiter to acquire SolanaFM intriguing. It’s clear that Jupiter is strategically positioning itself to strengthen its infrastructure and expand its capabilities, which could potentially put it at the forefront of the rapidly evolving decentralized trading landscape.
The decentralized trading platform Jupiter is purchasing SolanaFM, a blockchain explorer, to broaden its functionalities, utilizing SolanaFM’s underlying infrastructure.
Jupiter, a decentralized crypto exchange aggregator built on Solana, has recently taken over SolanaFM, a blockchain explorer supported by Etherscan. In a recent announcement on September 20th, SolanaFM stated its intention to enhance the data and infrastructure capabilities of Jupiter, while assuring that the platform will continue to function as normal.
We’re thrilled to share the news that SolanaFM has been taken over by Jupiter Exchange, the top decentralized trading platform on Solana!
— SolanaFM (@solanafm) September 20, 2024
Introduced in 2021, SolanaFM offers comprehensive data analysis on Solana’s network, covering transaction history, smart contracts, and token details. In the year 2022, this explorer garnered $4.5 million in a seed funding round, with SBI Group’s Digital Asset Opportunity Fund taking the lead. Additionally, SolanaFM successfully obtained investments during a funding round spearheaded by Etherscan and Coinhako in December 2021.
In addition to their recent announcement, Jupiter unveiled Jupiter Mobile – a no-fee mobile application developed collaboratively with MoonPay. Although the exact launch date is yet to be revealed, this app will accept popular payment options like Apple Pay, Google Pay, and credit cards, enhancing user convenience. Since the news broke, Jupiter’s token (JUP) experienced an 11% surge, reaching $0.87 in value.
As I delve deeper into my research, it’s become evident that we at Jupiter are navigating through security challenges. In August, we issued a warning to our users regarding a harmful Chrome extension known as “Bull Checker,” which was found to be targeting Solana users. Our thorough investigations, spurred by user complaints, unveiled this malicious software, underscoring the persistent threats lurking within our ecosystem as we strive to broaden our services and establish a stronger market presence.
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2024-09-20 11:02