Jito token slide reaches 6.6% as late-day selling takes over
Jito ($JTO) traded at $0.503 at 3:38 p.m. ET on Oct. 2, down 6.6% in 24 hours, with most of the drop landing in the last five hours.
The quick take
What happened
The Jito token slide reached 6.6% over 24 hours on Friday, Oct. 2. Jito ($JTO) traded at $0.503 at 3:38 p.m. ET, according to CoinGecko. Jupiter’s price feed showed $0.504, a gap of 0.16%.
The day started on firmer ground. CoinGecko puts the 24-hour high at $0.562 and the low at $0.501, so $JTO now trades near the bottom of that range.
Most of the drop came late. On Binance‘s JTO/USDT pair, $JTO slid from $0.554 at 15:00 UTC to $0.503 at 19:41 UTC. That is a fall of 9.2% in under five hours.
CoinPaprika, a second price directory, showed a 7.0% drop over 24 hours. CoinGecko lists the token’s market value at about $266 million and its 24-hour trading volume at $25.2 million.
Why it moved
No cause is confirmed. The Jito blog shows no new post since Sept. 28, and no news report we reviewed links the drop to a Jito event.
The slide came as other Solana tokens also fell. Pump.fun ($PUMP) lost 6.9% and Jupiter ($JUP) dropped 4.6% in 24 hours, per CoinGecko. Solana ($SOL) itself was nearly flat, up 0.2% at $118.05.
The wider market was calmer. Bitcoin ($BTC) slipped 0.7% and Ether ($ETH) 1.1% over 24 hours, according to LiveCoinWatch.
Who’s buying and selling
Sellers led on-chain. The largest Solana pool for $JTO, paired with JitoSOL on Orca, logged 633 sells against 482 buys in 24 hours, per DexScreener. GeckoTerminal showed a similar split of 631 sells to 481 buys.
Staking deposits moved the other way. DefiLlama shows Jito Liquid Staking holding $1.25 billion, up 2.2% in a day.
What to watch next
First, whether $JTO holds above its 24-hour low of $0.501. The token is still up 20% over 30 days, per CoinGecko.
Second, whether staking deposits keep rising while the token falls. On Friday the two moved in opposite directions.
Bottom line: The Jito token gave back its early gains and more late on Friday, while deposits in its staking pool kept rising.
Price data: CoinGecko (cross-checked with Jupiter).
Sources
- CoinGecko: Jito (JTO) price, 24-hour range, 30-day change and market data (tier A data, 19:38 UTC)
- Jupiter price API: JTO cross-check price (19:41 UTC)
- Binance: JTO/USDT hourly prices (19:41 UTC)
- DexScreener: JTO/JitoSOL pool on Orca, 24-hour buys and sells
- GeckoTerminal: JTO/JitoSOL pool on Orca, second reading
- DefiLlama: Jito Liquid Staking TVL
- CoinPaprika: Jito (JTO) 24-hour change
- LiveCoinWatch: Bitcoin and Ether market context
- Jito blog
Not financial advice.
