Navigating the Solana Universe: DEX’s Mobile Trading Emphasis Strengthened by DeFi Wallet App Acquisition
Jupiter, a decentralized exchange aggregator on Solana (SOL). Rrecently acquired the DeFi wallet Ultimate Wallet as part of its strategy to launch a zero-fee mobile trading platform in May.
The acquisition aims to drive more people into the crypto space by utilizing Ultimate’s technology and team to enhance Jupiter Mobile. This move is seen as a significant step towards accelerating mainstream crypto adoption. Meanwhile. Jupiter maintains its position as the top decentralized exchange on Solana. Accounting for 10% of the market share with a trading volume exceeding $709 million in 24 hours.
Ultimate Wallet, on the other hand, announced the discontinuation of its app following the acquisition. With users having until May 22nd to access their wallets before transitioning to recovery phrases only from May 23rd onwards.
Clever Robot News Desk 27th April 2024
