Jito liquid staking falls to 10.27 million SOL, lowest since September

Jito liquid staking slipped to 10.27 million staked SOL on Friday, its lowest level since Sept. 10, according to DefiLlama data read at 3:41 p.m. ET. That is about 60,000 SOL below the 10.33 million we reported on Oct. 31, so the slow outflow has kept going for another week.

What happened

JitoSOL is the token people get when they stake $SOL through Jito. It earns staking rewards and can still be traded or used in DeFi. DefiLlama tracks how much SOL sits behind it.

That figure fell from 10,351,794 SOL at 00:00 UTC on Thursday to 10,265,079 SOL at 00:00 UTC on Friday. The drop of about 86,700 SOL was the biggest one-day decline since Oct. 15, when about 184,000 SOL left. By 20:41 UTC on Friday, the pool read 10,268,474 SOL, almost unchanged from midnight.

The pool peaked at 10.65 million SOL on Oct. 14 in DefiLlama’s data. Since then it has lost about 382,000 SOL, or 3.6%. Over the past seven days, the decline is about 105,500 SOL, or 1.0%.

Jupiter’s token data showed 7,837,322 JitoSOL in supply at 21:45 UTC, worth $922.0 million. One JitoSOL traded for about 1.308 SOL on Jupiter, which puts the backing near 10.25 million SOL. That sits within 0.2% of DefiLlama’s count.

Why it moved

The cause is not confirmed. Jito’s blog has posted no new announcement since Sept. 28, and we found no report tying the outflow to a single holder or event.

The dollar value fell faster. DefiLlama put the pool at $923.1 million, down 6.0% from $981.6 million at 00:00 UTC on Oct. 30. Most of that gap comes from the price of $SOL: on Binance’s SOL/USDT pair, $SOL closed Oct. 30 at $96.38 and now trades at $89.91.

Jupiter Exchange ($JUP) runs its own staking token, JupSOL. DefiLlama shows Jupiter Staked SOL at 5,100,539 SOL at 19:57 UTC on Friday, down from 5,187,539 SOL on Oct. 30. That is a 1.7% drop in a week, a bit steeper than Jito’s 1.0%.

Who’s buying and selling

Trading in JitoSOL tells a different story from the pool. Jupiter’s data shows $4.4 million of JitoSOL bought and $2.5 million sold in the 24 hours to 21:45 UTC. Jupiter counts 184,618 holders of the token.

Those numbers come from one source and include automated trades, so they are a rough guide. Still, they suggest buyers outpaced sellers on the open market, even as some holders redeemed their JitoSOL for SOL.

For readers, the two views fit together. A holder who wants out can sell JitoSOL to a buyer, which leaves the pool unchanged. A holder who unstakes instead takes SOL out of the pool, and that is what shrank the count.

What to watch next

The Sept. 10 reading of 10,264,037 SOL is the next marker. The pool sits only about 4,400 SOL above it, so a quiet day of outflows would take it lower.

Watch also whether JupSOL keeps shrinking at the same pace. If both pools fall together, the move looks like a wider pullback from Solana liquid staking. If Jito’s count steadies while others fall, its share of the market holds up.

Price is the third piece. The $JTO token gained 2.8% on Binance’s JTO/USDT pair on Friday while the pool shrank, so the token and the staking pool do not always move together.

Bottom line: Jito’s staking pool keeps losing SOL slowly, and Friday’s reading of 10.27 million is its smallest since Sept. 10.

Sources

• DefiLlama: Jito Liquid Staking (tier B+, SOL count and TVL history, latest point 20:41 UTC Nov. 6)
• Jupiter token data: JitoSOL (tier B, supply, value and 24-hour trading, 21:45 UTC Nov. 6)
• DefiLlama: Jupiter Staked SOL (tier B+, JupSOL SOL count, 19:57 UTC Nov. 6)
• Binance: SOL/USDT and JTO/USDT (tier B, price and 24-hour change, 21:41 UTC Nov. 6)
• Jito blog (tier A, latest posts, checked 21:41 UTC Nov. 6)

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

Not financial advice.