Jito token loses 11% in a late Thursday slide

Jito token loses 11% in a late Thursday slide near its daily low

Jito ($JTO) traded at $0.3855 at 5:41 p.m. ET on Thursday, down 11% in 24 hours after a sharp late-afternoon drop.

The quick take

Price: $0.3855, −11% in 24 hours ↓ (CoinGecko, 21:41 UTC).
Trigger: a sharp drop in the hour to 21:00 UTC, as Solana tokens fell together; Jito shared no news.
Watch: whether the token holds its 24-hour low of $0.3745.

What happened

The Jito token loses 11% in 24 hours to trade at $0.3855 on Thursday, as of 5:41 p.m. ET (21:41 UTC), according to CoinGecko. Jito ($JTO) sits close to its 24-hour low of $0.3745. Jupiter’s price feed showed $0.3837, a gap of 0.48%.

CoinGecko’s 24-hour range runs from $0.4345 down to $0.3745. Over seven days, CoinGecko’s market table shows a 17% loss and its coin page a 16% loss. The token trades about 94% below its record high of $6.01, set on Dec. 7, 2023.

Why it moved

Most of the drop came late in the day. On Binance’s JTO/USDT pair, the price fell from $0.4091 at 20:00 UTC to $0.3785 an hour later, a 7.5% slide. It had already eased from $0.4334 a day earlier to about $0.40 by Thursday morning UTC.

Solana ($SOL) fell in the same hour, from $99.82 to $96.17 on Binance’s SOL/USDT pair. Over 24 hours, $SOL is down 4.5% at $97.67, per CoinGecko. Raydium ($RAY) lost 11% and Jupiter Exchange ($JUP) 8.7%. Bitcoin ($BTC) slipped 2.2% to $79,375, according to LiveCoinWatch.

Jito shared no news that explains the move. The latest post on the Jito Foundation blog dates from Sept. 28, so the cause is not confirmed.

Who’s buying and selling

Sellers led in the token’s largest pool. In the Orca JTO/JitoSOL pool, DexScreener counted 678 sells against 517 buys over 24 hours, with about $1.0 million in liquidity. GeckoTerminal’s reading of the same pool matched closely, with 677 sells and 517 buys.

Across all markets, CoinGecko put 24-hour trading volume at $22.8 million and the token’s market value at $208 million.