Solana-based crypto exchange aggregator Jupiter has acquired blockchain explorer SolanaFM, supported by Etherscan.
Jupiter, a decentralized crypto exchange aggregator based in Solana, has acquired SolanaFM, a blockchain explorer supported by Etherscan.
The blockchain explorer, X, announced on Sept. 20 that it will concentrate on “10x-ing the data and infrastructure capabilities on Jupiter.” It also stated that the platform will continue to operate as usual.
SolanaFM, introduced in 2021, offers consumers a comprehensive understanding of Solana’s network data, including transaction history, smart contracts, and token information.
The explorer received $4.5 million in a seed funding round in 2022, headed by SBI Group’s Digital Asset Opportunity Fund. Additionally, in December 2021, SolanaFM secured investments from a funding round led by Coinhako and Etherscan.
Jupiter Mobile, a mobile application that is fee-free and was developed in collaboration with MoonPay, was also disclosed in conjunction with the acquisition.
Although the app’s launch date is currently unknown, it will facilitate the use of credit cards, Apple Pay, and Google Pay, to enhance user accessibility. Jupiter’s token experienced an 11% increase in value after the announcement, reaching a high of $0.87.
Jupiter is confronted with security concerns during the acquisition and product launch. In August, the exchange issued a warning to users regarding a malicious Chrome extension known as “Bull Checker” that was specifically designed to target Solana users.
Jupiter identified this extension after conducting a comprehensive investigation into user complaints, underscoring the ongoing risks in the ecosystem as Jupiter expands its services and market presence.
