Jito token gains 7.4% as buyers outnumber sellers

Jito token gains 7.4% as buyers outnumber sellers in its top pool

Jito’s governance token traded at $0.447 at 3:40 p.m. ET on Monday, up 7.4% in 24 hours, with most of the gain made overnight.

Jito ($JTO), the governance token of the Jito liquid staking network, traded at $0.447 at 3:40 p.m. ET on Monday, Oct. 19, per CoinGecko. The Jito token gains 7.4% over 24 hours, winning back part of a 14.1% weekly loss.

The quick take

Price: $JTO at $0.447, up 7.4% in 24 hours and down 14.1% over seven days (CoinGecko, 19:40 UTC).
Trigger: A broad overnight rebound in crypto, as Solana ($SOL) rose 3.3%; Jito posted no new announcement.
Watch: Whether buyers keep their lead in the JTO/JitoSOL pool on Orca DEX.

What happened

Most of the rise came overnight. On Binance’s JTO/USDT pair, hourly closes rose from $0.4184 on Sunday afternoon (ET) to $0.4468 late Sunday night. The price then held in a narrow band between $0.441 and $0.448 through Monday.

CoinGecko puts the 24-hour range at $0.417 to $0.451. The token’s market value is $238.7 million, with $24.4 million in 24-hour trading volume. Jupiter’s price of $0.446 sits 0.24% from CoinGecko’s.

Why it moved

Jito has posted nothing new on its blog since Sept. 28, so a project-specific trigger is not confirmed. The move lined up with a wider rebound. $SOL rose 3.3% to $104.14 over the same 24 hours, per CoinGecko.

Bitcoin ($BTC) was up 1.3% near $81,936, per LiveCoinWatch. SolanaFloor reported that $SOL climbed from about $100.50 on Sunday night to $105 on Monday morning as $BTC recovered.

Who's buying and selling

Buyers led trading in Jito’s deepest pool. The JTO/JitoSOL pool on Orca DEX logged 379 buys and 234 sells in 24 hours, per DexScreener. GeckoTerminal counted 379 buys and 235 sells.

That pool holds about $1.15 million in liquidity and traded about $76,000 in the window. Jito Liquid Staking, which issues JitoSOL, held $1.09 billion in deposits, per DefiLlama, down 3.3% over seven days.

What to watch next

Watch whether $JTO stays above Sunday’s low near $0.417 if the wider market cools. Buy and sell counts in the JitoSOL pool will show whether demand lasts past the overnight bounce. The token is still down 6.7% over 30 days, per CoinGecko.

Bottom line: Jito’s token won back part of last week’s drop in a market-wide overnight rebound, with buyers ahead in its main pool.

Price data: CoinGecko.