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Jupiter Acquires Ultimate Wallet for Mobile Initiative
On April 23, Solana’s leading decentralized exchange aggregator, Jupiter, acquired Ultimate Wallet and its mobile team. This strategic move aims to enhance the mobile trading experience on Solana and onboard millions of users.
Jupiter’s Mobile Initiative
Jupiter announced its plans to launch a mobile initiative to expand its user base through mobile platforms. The beta launch is scheduled for May, offering high-speed on-chain trading experiences on Solana.
Ultimate Wallet Acquisition
Jupiter’s acquisition of Ultimate Wallet positions it as the top trading platform on Solana, with a weekly trading volume exceeding $10 billion. This move aligns with Jupiter’s goal of offering a native mobile wallet to its users.
Ultimate Wallet also expressed enthusiasm about joining forces with Jupiter, confirming the acquisition and assuring users of a smooth transition. The current app will be sunsetted on May 22, 2024, with users able to retrieve their recovery phase until then.
Starting May 23, 2024, users can access their cloud backups while the team behind Ultimate provides tutorials to guide users through exporting their wallets.
Jupiter Mobile Initiative and Solana’s Growth
Jupiter’s new mobile application, part of the Jupiter Mobile initiative, will allow users to trade any token without fees, enhancing the trading experience in the Solana ecosystem. The DEX has seen significant growth, accounting for 8% of the total TVL in the Solana ecosystem.
Solana’s SOL has experienced remarkable growth, becoming the third largest cryptocurrency by market cap. The recent memecoin craze has contributed to this growth, with SOL gaining 807% in the past year.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
