Market Times:


New York:


Jupiter (JUP) Gets Boost as Solana DEX Aggregator Plans Mobile App

Jupiter has announced the impending launch of the Jupiter Mobile app, and acquisition of Ultimate wallet.

Solana’s leading decentralized exchange (DEX) aggregator, Jupiter, has revealed plans to launch a new mobile app as part of a broader initiative to onboard millions of users to the DeFi space. The proposed mobile app will be available in Beta as soon as May and will offer a one-click trading experience with zero fees, according to the project.

To steer its plans forward, Jupiter revealed Tuesday that it has acquired Ultimate Wallet, a crypto wallet provider that focuses on providing a superior mobile experience. Following the acquisition, Ultimate will sunset its current services by May 22, while its core mobile team joins Jupiter to build out the new Jupiter Mobile App.

In an increasingly mobile-first world, Jupiter promotes its planned mobile app as a key way to drive the adoption of cryptocurrency by everyday users. The move notably mirrors Solana’s overall mission to make crypto increasingly accessible to mobile users. With Solana already having its ecosystem smartphone and native dApp store, it is increasingly likely that the Jupiter Mobile app will be released on the platform and subsequently on other app stores.

Jupiter JUP Gains 1.45%

Following news of Jupiter’s latest acquisition, the price of the token gained around 1.45% to trade at $1.19 at the time of writing. According to CoinMarketCap data, JUP currently has a market cap of $1.6 billion, having gained 26% in the past seven days. Alongside the rest of the crypto market, it has bounced back this week, recovering from its recent lows of $0.82 to trade as high as $1.21 on Monday.

Jupiter JUP Seven Day Chart

While it is unclear what role JUP will play on the planned mobile app, the Jupiter team has already integrated the token across its existing products. Jupiter users currently need to stake JUP to vote on upcoming token launches on the protocol’s launchpad platform.

Last week, Jupiter completed the second round of voting on new token launches, with Sanctum and UpRock selected as the next projects to go live on the Jupiter Launchpad.

Wilfred Michael

Wilfred Michael is a highly experienced cryptocurrency journo. He has spent more than five years covering this exciting new technological space, and relishes the opportunity to play a role in driving what he considers to be the future of finance.