Jito token slides 10% as Monday selling deepens weekly loss

Jito token slides 10% as Monday selling deepens its weekly loss

Jito ($JTO) traded at $0.508 at 7:41 p.m. ET on Monday, down 10% in 24 hours, as sellers outnumbered buyers in its top pool.

The quick take

Price: $JTO at $0.508, down 10% in 24 hours (-10% ↓) as of 7:41 p.m. ET on Monday.
Trigger: Selling ran all day. Sells beat buys 901 to 661 in its top pool, and Jito posted no new announcement.
Watch: Whether buy trades catch up in the JTO/JitoSOL pool, and whether Solana ($SOL) steadies after a 5.2% drop.

The Jito token slides 10% in a day as selling runs through Monday. Jito ($JTO) traded at $0.508 at 7:41 p.m. ET, according to CoinGecko, down from a 24-hour high of $0.583.

The drop deepens a weekly loss. $JTO is now 11% lower over seven days, though it is still up 17% over 30 days, per CoinGecko.

What happened

Jupiter’s price feed showed $JTO at $0.510 at the same time, within 0.4% of CoinGecko. That second reading confirms the price.

On Binance’s JTO/USDT pair, hourly prices peaked near $0.581 early Monday. The steepest slide came from late morning to early afternoon ET, from about $0.552 to $0.515.

Trading stayed active. CoinGecko counted $33 million in 24-hour volume, against a market value of about $270 million.

Why it moved

The cause is not confirmed. Jito’s own blog shows no new post since Sept. 28, so the drop does not follow a project announcement.

The wider market fell too. Solana was down 5.2% at $105.44 on CoinGecko. LiveCoinWatch showed Bitcoin ($BTC) down 2.2% and Ether ($ETH) down 3.4%, so $JTO fell about twice as far as $SOL.

Who’s buying and selling

Sellers led the largest $JTO pool on Solana, the JTO/JitoSOL pair on Orca. DexScreener counted 901 sells against 661 buys in 24 hours, with $1.25 million in liquidity.

GeckoTerminal showed nearly the same split, 899 sells to 660 buys. Both readings point the same way: more wallets sold than bought.

What to watch next

Watch whether buy trades catch up with sells in the JTO/JitoSOL pool. A narrower gap would show selling pressure easing.

Also watch $SOL. Jito Liquid Staking held $1.12 billion in deposits on DefiLlama, a dollar figure that moves with the $SOL price. $JTO remains about 92% below its record high of $6.01, set on Dec. 7, 2023.

Bottom line: $JTO lost 10% on a red day for Solana tokens, with sellers in control and no project news behind the move.

Price data: CoinGecko (cross-checked with Jupiter).