Solana’s decentralised exchange (DEX) aggregator, Jupiter, has acquired Ultimate Wallet and its mobile team on April 23, aiming to bolster its mobile expansion efforts.
This strategic move aligns with Jupiter’s objective of broadening its user base through mobile platforms, with plans for a beta launch slated for May. The acquisition underscores Jupiter’s commitment to delivering high-speed on-chain trading experiences on the Solana blockchain.
Ultimate Wallet, acknowledging the acquisition on social media, expressed excitement about joining forces with Jupiter.
Users of Ultimate Wallet were informed that the current app would be phased out by May 22, 2024. During the transition period, users can continue utilising the wallet, ensuring the security of their funds. From May 23, 2024, users will have access to their recovery phase while retaining access to cloud backups.
To facilitate a seamless transition, Ultimate has prepared a tutorial to assist users in exporting their wallets.
Moreover, Jupiter is set to launch its Jupiter Mobile initiative, introducing a beta version in May. This mobile application will enable fee-free trading of any token, offering a more convenient and cost-effective trading experience within the Solana ecosystem.
Jupiter’s prominence in the Solana blockchain is evidenced by its $381.49 million in total value locked (TVL), marking an 86% month-over-month growth. The DEX currently accounts for around 8% of Solana’s total TVL, with the JUP token boasting a fully diluted market cap of $12.5 billion.
Solana’s remarkable growth, with SOL becoming the third-largest cryptocurrency by market capitalization, reflects a gain of 807% in the past year. The recent surge in memecoin popularity has significantly contributed to this growth.
