The decentralized exchange Jupiter has taken over the blockchain explorer SolanaFM, according to its latest post on X.
SolanaFM, a blockchain explorer engaged in on-chain analysis, data, and information of the Solana blockchain, has recently been acquired. Jupiter Exchange, a decentralized platform under Solana, has taken over the blockchain explorer. Announcing the move on X, the decentralized exchange said the explorer would help expand their infrastructure capabilities.
At the same time, SolanaFM also took to X to post a similar statement. Further, it mentioned that its operations would function as usual independently. The three-year-old blockchain explorer was popular for sharing regular updates and insights on Solana. Data metrics on the platform included token information and transaction histories. One could describe SolanaFM as being similar to Etherscan for Ethereum. A couple of years back, the explorer also raised over $4 million from leading venture capital funds.
The press release reporting the funding quoted the CEO of SolanaFM, “The long-term vision of SolanaFM is to build a vertically-scaled product in Solana’s data space…”
Meanwhile, Jupiter Exchange has shared another update regarding a new mobile application. Jupiter Mobile, the application, will help integrate popular payment methods for its users.
Jupiter’s native token, JUP, went up by around 10% following the acquisition. Apart from this development, Jupiter has also announced other upgrades to improve the Solana ecosystem. It introduced three new API enhancements for seamless development. Further, it launched Jupiter RFQ, a method for market makers to improve liquidity on Solana.
Moreover, Jupiter also completed a parallel transaction at this juncture, acquiring the trading terminal Coinhall. With these recent moves, Jupiter could be on the path toward expanding its services and scope in the blockchain space.
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