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The Coin Rise 2025-01-25 22:30:43

Solana DEX Jupiter Takes Majority Stake in Moonshot

Solana DEX Jupiter Takes Majority Stake in Moonshot

Jupiter, a Solana-based decentralized exchange (DEX) aggregator, has acquired a majority stake in Moonshot. Meow, Jupiter’s founder, shared the acquisition update with the community in a post on X. Notably, Moonshot is an app that enables the purchase of memecoins via Apple Pay. Strategic Acquisition to Enhance Memecoin Engagement According to Meow’s announcement, Jupiter has become the primary owner of Moonshot. Users can, therefore, look forward to Moonshot benefitting from the resources of Jupiter and an alignment of goals going forward. The acquisition could result in a unique blend of both entities, as Meow lauded and complimented the Moonshot team. The team is amongst the most innovative, driven group of people I have ever met,” he wrote in his post. This highlights that Moonshot’s team could add significant expertise and value to Jupiter. Industry stakeholders have suggested that the collaboration focuses on memes, digital culture, or humor-based projects. Moonshot’s Amazing Performance Notably, memecoins remain a viable way of engaging users in the crypto space. A clear example was the surprise launch of Donald Trump’s Official Trump (TRUMP) on January 18, 2025. The token immediately gained traction in crypto and beyond, with many raking in huge profits from the project. Interestingly, Moonshot’s popularity soared after the launch of TRUMP. Although it was launched in July 2024, Moonshot did not make much of a splash, remaining in the 309th position on the U.S. App Store ranking as of January 1, 2025. However, following the launch of TRUMP memecoin, Moonshot jumped to the top spot, buoyed by the sentiments. This saw Moonshot’s trading volume leap by approximately $400 million. This positive effect also rubbed off on Solana and pushed it to a new all-time high (ATH) of $294.33 on January 19. Jupiter’s Planned Airdrops and Ecosystem Growth Meanwhile, Jupiter has plans to carry out a major token airdrop worth $580 million this January. According to the announcement last month, it would distribute about 700 million tokens to stakers, users, and contributors in the community. Aside from using it as a loyalty reward program, the airdrop could also attract new users to the platform. The post Solana DEX Jupiter Takes Majority Stake in Moonshot appeared first on TheCoinrise.com .

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