Jito token rebounds 8.5% as afternoon buying erases Friday’s slide

What happened

The Jito token rebounds on Saturday after a weak Friday evening. Jito ($JTO) rose 8.5% in 24 hours to $0.580, CoinGecko data shows. That was the price at 17:39 UTC (1:39 p.m. ET) on Oct. 3.

Jupiter’s price feed agreed, showing $0.579 and a gain of 8.2%. The day’s low was $0.500 on CoinGecko.

On Binance’s JTO/USDT pair, the token stood at $0.542 at 17:00 UTC on Oct. 2. It then slid to $0.502 by 20:00 UTC. It now trades near $0.579, above where Friday’s drop began.

$JTO is up 31% over 30 days. It is still about 90% below its record high of $6.01 from December 2023.

Why it moved

No single cause is confirmed. Jito’s blog shows no new post since Sept. 28, when it shared a white paper on Korea’s spot crypto ETF market with partner Wavebridge.

Most of the gain came in the afternoon. On Binance’s pair, $JTO sat at $0.533 at 14:00 UTC and reached $0.570 by 16:00 UTC.

The move was not market-wide. Bitcoin ($BTC) rose 0.2% and Ether ($ETH) 0.1%, according to LiveCoinWatch. Solana ($SOL) gained 0.4% on CoinGecko. Among the Solana tokens we track, only Raydium ($RAY), up 8.7%, kept pace.

Who’s buying and selling

The busiest on-chain $JTO pool pairs it with JitoSOL on Orca, with $1.40 million in liquidity. DexScreener counted 1,051 buys against 655 sells there over 24 hours. GeckoTerminal showed 1,049 buys and 663 sells on the same pool.

So buy orders outnumbered sells by about 60%. Trade counts show how many orders went each way, not how large they were.

Total $JTO trading reached $36.3 million over 24 hours on CoinGecko. The token’s market value stood at about $306 million.

Deposits did not follow the token. DefiLlama shows $1.25 billion in Jito liquid staking, down 1.3% in a day.

What to watch next

• Whether $JTO holds above $0.533, where the afternoon climb began on Binance’s JTO/USDT pair.
• Whether Jito liquid staking deposits turn higher again on DefiLlama.
• Any Jito Foundation statement that explains the move.

Bottom line: $JTO wins back Friday’s losses in one afternoon, but no clear cause is confirmed and staking deposits edge lower.

Price data: CoinGecko.

Sources

1. CoinGecko — Jito (JTO): price, 24h change, 24h low, 30-day change, record high, volume and market cap (17:39 UTC, Oct. 3)
2. Binance — JTO/USDT: hourly prices, Oct. 2 17:00 UTC to Oct. 3 17:41 UTC
3. DexScreener — JTO/JitoSOL pool on Orca: liquidity, 24h buys and sells (17:41 UTC)
4. GeckoTerminal — JTO/JitoSOL pool: 24h buys and sells (17:41 UTC)
5. DefiLlama — Jito Liquid Staking: deposits and 1-day change (17:41 UTC)
6. Jito blog: latest posts (read 17:41 UTC)
7. CoinGecko — Raydium (RAY): 24h change (17:39 UTC)
8. LiveCoinWatch: Bitcoin and Ether 24h change (17:41 UTC)

Not financial advice.