Token

Solana

Jupiter

Jupiter, a Solana-based decentralized exchange, has made a significant move by acquiring SolanaFM. Alongside this acquisition, Jupiter has rolled out critical updates aimed at enhancing the Solana ecosystem. One of the most notable features is the RFQ integration, which simplifies liquidity sourcing from exchanges like Binance. Additionally, Jupiter is preparing to launch Jupiter Mobile, a zero-fee application supporting widespread adoption through Apple Pay and Google Pay. These developments have driven JUP to double-digit gains. 
<h2 id="jupiter-acquires-solanafm">Jupiter Acquires SolanaFM</h2> 
Jupiter, the leading Solana-based decentralized exchange, has officially acquired SolanaFM, a move confirmed by the official X account of SolanaFM. This merger is seen as a step forward in expanding Solana’s ecosystem and boosting liquidity in the market. 
<blockquote class="twitter-tweet"> 
 FM x JUP 
 We’re excited to announce that SolanaFM has been acquired by <a href="https://twitter.com/JupiterExchange?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">@JupiterExchange</a>, <a href="https://twitter.com/solana?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">@solana</a>’s leading decentralized exchange. <a href="https://t.co/pJ3LA8F8sp" rel="nofollow" target="_blank">pic.twitter.com/pJ3LA8F8sp</a> 
 — SolanaFM (@solanafm) <a href="https://twitter.com/solanafm/status/1836990210787397789?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">September 20, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h2 id="major-updates-to-the-solana-ecosystem">Major Updates to the Solana Ecosystem</h2> 
In connection with the SolanaFM acquisition, Jupiter announced a series of updates aimed at improving the Solana ecosystem. These include five major upgrades that will enhance liquidity and support memecoin activity on the Solana blockchain. The integration of RFQ will make it easier for market makers from platforms like Binance to provide liquidity on Solana. Jupiter is also set to release a beta user interface next week to further streamline these operations. 
<img loading="lazy" loading="lazy" decoding="async" class="alignnone size-full wp-image-45413" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/09/Grafik-1-29.webp" alt="Solana-Based Altcoin Makes a Key Move: Token Surges! = The Bit Journal" width="1393" height="490" title="Solana-Based Altcoin Makes a Key Move: Token Surges! 28"> 
Additionally, Jupiter announced the launch of Perps V2, an updated version of its perpetual contracts platform. Building on the liquidity of Perps V1, the new version introduces features like limit orders, a revamped oracle system, and gasless transactions. To improve user experience, Jupiter is preparing to launch Jupiter Mobile, a frictionless app with zero platform fees. This app will support Apple Pay and Google Pay to attract millions of users to the Solana ecosystem. For memecoin enthusiasts, Jupiter plans to introduce Ape Pro, a comprehensive platform combining trading tools with social engagement and token creation features. 
<h2 id="jup-price-performance-and-technical-analysis">JUP Price Performance and Technical Analysis</h2> 
As tracked by The Bit Journal, the crypto market has gained momentum following the Federal Reserve’s interest rate decision. Most tokens are trending in the green, with Jupiter (JUP) trading at $0.8850 at the time of writing, reflecting a 13% increase in the last 24 hours. JUP’s price chart shows steady growth, starting around $0.78 and climbing to $0.89 on rising buy activity. 
<blockquote class="twitter-tweet"> 
 Make developing easier on Solana – with <a href="https://t.co/poDy3zp7RG" rel="nofollow" target="_blank">https://t.co/poDy3zp7RG</a> 
 When building Jupiter, we also upgraded the 3 key APIs that <a href="https://t.co/PA52QKAZ6p" rel="nofollow" target="_blank">https://t.co/PA52QKAZ6p</a> use today. 
 Swap, Tokens and Price API. 
 These APIs are available for anyone with internet to use via the Metropolis APIs. 
 With… <a href="https://t.co/EJpLEcWmkU" rel="nofollow" target="_blank">pic.twitter.com/EJpLEcWmkU</a> 
 — Jupiter <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1fa90.png" alt="🪐" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@JupiterExchange) <a href="https://twitter.com/JupiterExchange/status/1836993409674006986?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">September 20, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
Technical indicators suggest a bullish trend for this Solana-based token. The MACD shows a positive crossover, with the MACD line moving above the signal line, indicating strong buying momentum. The RSI sits at 63.36, nearing overbought levels but still in neutral territory, suggesting potential for further gains before encountering resistance.

Solana-Based Altcoin Makes a Key Move: Token Surges!

Table of Contents

The Bit Journal

Other articles published on Sep 20, 2024

Chainlink Struggles To Breach $12.38, LINK Faces Challenges in Recovery

Unveiling the Elite: 5 Titans Reshaping the Quantum Computing Landscape

a16z Crypto Selects 21 Startups for Fall 2024 Accelerator Cohort

BingX Exchange Hit by $26M Crypto Theft: Report

Investors Monitor Bitcoin’s Struggle at the $64,000 Resistance Level

🗒 Daily Newsletter | Friday, September 20, 2024

Join our free newsletter for daily crypto updates!