Jupiter, a Solana-based decentralized exchange aggregator, has made a significant move by acquiring a majority stake in Moonshot, an app that enables users to purchase memecoins using Apple Pay.
This acquisition is a strategic step for Jupiter as it expands its ecosystem to cater to a broader demographic, including casual investors who prefer using traditional payment methods for crypto purchases. This is a useful option because many newer users are unfamiliar with how more technical web3 payment methods actually work and this can prevent them from gaining access to an innovative ecosystem of services.
It’s worth noting that Moonshot’s popularity skyrocketed following the launch of Donald Trump‘s Official Trump (TRUMP) memecoin on January 18, 2025 with the app climbing to the top spot in the US App Store’s finance category.
The app reportedly saw nearly $400 million in trading volume during TRUMP memecoin’s debut and recorded 1 million daily active users by January 20.
In addition to the Moonshot acquisition, Jupiter also announced its acquisition of SonarWatch, a portfolio-tracking tool that will be integrated into Jupiter’s platform.
As part of the acquisition, SonarWatch will discontinue its standalone platform, and its native token, SONAR, will be discontinued, with holders able to exchange their tokens for Jupiter’s native token, JUP.
Jupiter has also unveiled a series of updates to its platform, including the introduction of “Ultra Mode,” which automates several key features, and a new security tool called Jupiter Shield.
The platform’s Manual Mode has been upgraded with Routing and Broadcast options, giving users greater control over their trades.
The JUP token has surged 10% in the last 24 hours (at the time of writing), trading at $0.93, following these announcements. But since then, the broader crypto markets are experiencing a significant correction with major assets such as Bitcoin, Ethereum, XRP, and Solana down considerably from their recent highs.
With these strategic acquisitions and platform updates, Jupiter is poised to enhance its product offerings and further expand its presence in the memecoin space.