Jito token rises 6.8% in a midday climb

Jito token rises 6.8% in a midday climb that holds into the evening

Jito’s $JTO token traded at $0.477 at 3:40 p.m. ET on Tuesday, up 6.8% in 24 hours after a steady climb from late morning to midafternoon UTC.

The quick take

Price: $JTO trades at $0.477, up 6.8% in 24 hours (CoinGecko, 19:40 UTC).
Trigger: A steady climb from 11:00 to 15:00 UTC; no new Jito announcement explains it yet.
Watch: Whether $JTO keeps its gains near $0.48 while it stays down 11% for the week.

The Jito token rises 6.8% in 24 hours as a midday climb holds into the evening. Jito ($JTO), the governance token of the Jito staking network on Solana, traded at $0.477 at 19:40 UTC (3:40 p.m. ET), according to CoinGecko.

What happened

Jupiter, which prices tokens from Solana trading, showed $0.476 at the same time, a gap of 0.3%. Over 24 hours, $JTO traded between $0.439 and $0.491, per CoinGecko data read at 19:48 UTC.

Hourly prices on Binance’s JTO/USDT pair show the shape of the move. The token sat near $0.44 on Monday evening. It then rose from $0.455 at 11:00 UTC to $0.486 at 15:00 UTC.

Since then, hourly closes have stayed between $0.475 and $0.481. CoinGecko puts the market cap at $255 million, with $29.2 million in 24-hour trading volume.

Why it moved

The cause is not confirmed. The Jito blog shows no new post in the past 24 hours. Its latest, from Sept. 28, covers a white paper with Wavebridge on Korea’s spot digital asset ETF.

The wider market rose far less. Solana ($SOL) gained 1.5% to $105.69, per CoinGecko, and Bitcoin ($BTC) rose 0.6%, per LiveCoinWatch.

Deposits behind JitoSOL held steady. DefiLlama shows $1.11 billion locked in Jito Liquid Staking, 0.9% less than a week ago.

Who’s buying and selling

The biggest on-chain pool did not lead the climb. The Orca pool that pairs $JTO with JitoSOL holds $1.2 million in liquidity, according to DexScreener.

It logged 551 buys and 564 sells over 24 hours, so sellers there slightly outnumbered buyers. GeckoTerminal counted a similar 549 buys and 563 sells.

What to watch next

$JTO is still down 11.1% over seven days and 3.4% over 30 days, per CoinGecko. It trades about 92% below its record high of $6.01, set on Dec. 7, 2023.

One open question is whether the token keeps its gains near $0.48 as U.S. trading winds down. A Jito announcement would be the first clear sign of a cause.

Price data: CoinGecko, checked against Jupiter; hourly prices from Binance (JTO/USDT).

Bottom line: $JTO adds 6.8% in a day on a steady midday climb, but the cause is unconfirmed and the token is still lower for the week.