Jupiter takes majority stake in Moonshot and integrates SonarWatch

Key Takeaways

• Jupiter acquired a majority stake in meme coin launchpad Moonshot.
• SonarWatch will be transitioning its focus entirely to Solana coverage.

Solana-based decentralized exchange Jupiter has acquired a majority stake in Moonshot, a meme coin launchpad that recently topped the finance app rankings on the US Apple App Store following the TRUMP meme coin launch.

The acquisition was announced at Catstanbul, Jupiter’s first-ever conference in Istanbul, Turkey. Financial terms of the deal were not disclosed at the time of writing.

“For the first announcement of Catstanbul, I’m thrilled to share that Jupiter Exchange has acquired a majority stake in Moonshot. The team is amongst the smartest, most driven group of people I have ever met,” Meow, Jupiter’s pseudonymous founder, wrote on X on Jan. 25.

Moonshot surged to the top spot among finance apps and seventh overall in the US Apple App Store’s free apps category shortly after the launch of the TRUMP memecoin, which rapidly achieved a market cap exceeding $13 billion in just over 24 hours.

Jupiter also announced the acquisition of SonarWatch, aiming to build the ultimate Solana portfolio tracker.

SonarWatch will transition exclusively to Solana coverage, with its current platform being phased out as the team focuses on building a portfolio tracker at portfolio.jup.ag.

As part of the integration, the SONAR token will be discontinued and the remaining supply burned, with holders eligible to claim Jupiter’s JUP tokens. The SonarWatch Portfolio API will be deprecated after a six-month transition period starting January 31.

The latest developments follow Jupiter’s distribution of around 700 million JUP tokens, valued at $616 million, through its ‘Jupuary’ airdrop on Wednesday.

The JUP token dropped 6% to $0.81 following the airdrop. It has since climbed back, now trading above $0.9, per CoinMarketCap.