JitoSOL pool edges up to 10.23 million SOL

The quick take

Price: Jito ($JTO) traded at $0.3384, up 2.0% over 24 hours, as of 7:41 a.m. ET, Nov. 10.
Trigger: Jito’s liquid staking pool held 10.23 million staked SOL at 5:33 a.m. ET, about 36,000 more than at the start of Monday (UTC), DefiLlama data shows.
Watch: Whether new stake keeps arriving while the price of Solana stays under pressure.

What happened

The JitoSOL pool edges up after Monday’s dip. Jito’s liquid staking pool held 10,230,383 SOL at 10:33 UTC on Tuesday, according to DefiLlama. That is 36,253 SOL more than the 10,194,130 SOL it held at midnight UTC on Monday.

Monday’s reading was the lowest daily figure in DefiLlama’s data since Sept. 5. The new stake is small next to the whole pool, about 0.4%, but it lifts the pool off that low.

Jupiter’s token data gives a matching picture. It counted 7,805,993 JitoSOL tokens at 12:49 UTC, each worth 1.3085 SOL at Jupiter’s prices. That works out to about 10.21 million SOL, within 0.2% of the DefiLlama figure.

Why it moved

The pool’s dollar value went the other way. DefiLlama put it at $865.2 million at 10:33 UTC, down from $882.1 million at midnight UTC and $947.1 million on Nov. 3.

That drop came mostly from the price of Solana ($SOL), not from stakers leaving. From Nov. 3 to Tuesday morning, the pool’s SOL count fell 0.8%, while its dollar value fell 8.7%.

$SOL traded at $84.72 at 7:41 a.m. ET, down 2.3% over 24 hours on Binance’s SOL/USDT pair. When Solana gets cheaper, every staked SOL in the pool is worth fewer dollars, even if nobody withdraws.

The wider market was soft too. Ether ($ETH) traded at $2,085, down 1.7% over 24 hours, per LiveCoinWatch. Solana’s 2.3% drop was part of a broad dip, not an event tied to Jito alone.

JitoSOL is a liquid staking token. Holders deposit SOL into Jito’s pool and get a token back that keeps earning staking rewards. That is why one JitoSOL is worth more than one SOL: Jupiter priced it at $110.92, against $84.76 for SOL.

Jito has not posted an announcement that explains the new stake. The newest post on its blog dates from Sept. 28, so the cause of the inflow is not confirmed.

Who’s buying and selling

Jupiter’s data lists 184,480 wallets that hold JitoSOL. The pool’s net gain since Monday, about 36,000 SOL, mixes new deposits with the staking rewards the pool earns. DefiLlama does not split the two.

Over a longer stretch, the pool is still smaller than it was. It held 10,364,959 SOL on Oct. 31, according to DefiLlama, so it sits about 135,000 SOL, or 1.3%, below that level.

The governance token moved on its own path. $JTO rose 2.0% to $0.3384 on Binance’s JTO/USDT pair, while Solana slipped. Bitcoin ($BTC) traded at $74,151, down 0.8% over 24 hours, per LiveCoinWatch.

The token and the pool are separate things. $JTO is used for Jito’s governance, while JitoSOL tracks staked SOL, so one can rise while the other’s dollar value falls.

What to watch next

The SOL count: another day of gains would mark a turn from the slow outflow seen since late October.
Solana’s price: with the SOL count steady, the pool’s dollar value will keep tracking $SOL.
Restaking: DefiLlama shows Jito Restaking at $14.7 million, down 4.3% over seven days, a smaller side of the same project.

Bottom line: The JitoSOL pool is adding SOL again after Monday’s low, and the fall in its dollar value comes almost entirely from Solana’s lower price.

Price data: Binance (JTO/USDT, SOL/USDT).