Core

Solana

Million

ORDI

Jito

<p>According to data from Coinmarketcap, the price of JTO, the native token of the Jito protocol, has spiked over 72% in the last 24 hours. This dramatic pump comes on the heels of JTO being listed on Binance Futures, as announced by the Crypto Exchange Listing Bot on X.</p>
<p>The rapid price appreciation of JTO mirrors that of other recent Solana-based token distributions that have vastly outperformed expectations.</p>
<p><strong>What is Jito and the JTO Token?</strong></p>
<p>Jito is a protocol built on the Solana blockchain that focuses on liquid staking tokens and the distribution of maximum extractable value (MEV). The JTO airdrop rewarded early adopters and community members who played a significant role in bootstrapping the Jito network, Jito announced the JTO airdrop in November 2023. The JTO token is a governance token that grants holders influence over Jito’s treasury and fee rates.”</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="498" src="https://captainaltcoin.com/wp-content/uploads/2023/12/image-204-1024x498.png" alt="" class="wp-image-394223" srcset="https://captainaltcoin.com/wp-content/uploads/2023/12/image-204-1024x498.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-204-300x146.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-204-768x373.png 768w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-204-1536x746.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-204-2048x995.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-204-309x150.png 309w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-204-100x49.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-204-720x350.png 720w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-204-788x382.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/12/image-204.png 854w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p><a href="https://twitter.com/Punk_Monke/status/1732882578385031417?t=0CzGDdnx43zhZRhZ615iYQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Punk_Monke received</a> over 10,000 JTO tokens himself from the airdrop and is still holding a significant portion. As he says, <em>“All the initial supply went to only 10K wallets and there is 0 unlock till next year So what you think gonna happened after these 10K lucky mfs sold, and ct is in max cope on new solana coins?”</em></p>
<p><strong>Supply Constraints and Speculation</strong></p>
<p>Indeed, the limited distribution and supply constraints seem to be fueling speculative interest in JTO in the wake of its Binance listing. With the majority of tokens held in just 10,000 wallets and no unlocking until 2024, demand is likely far outstripping supply at the moment. Traders may be trying to front-run the potential selling pressure when the 10,000 airdrop recipients eventually take profits.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/chainlink-could-be-ready-for-a-rebound-from-here-as-17k-addresses-buy-47-million-link-at-crucial-support/" target="_blank" rel="noopener noreferrer nofollow">Chainlink Could Finally Rebound from Here as 17K Addresses Buy 47 Million LINK at Crucial Support</a></li>
 <li><a href="https://captainaltcoin.com/whales-panic-dump-over-3-5-million-ordi-following-vulnerability-announcement-in-the-incoming-bitcoin-core-upgrade/" target="_blank" rel="noopener noreferrer nofollow">Whales Panic, Dump Over $3.5 Million ORDI Following Vulnerability Announcement in the Incoming Bitcoin Core Upgrade</a></li>
 <li><a href="https://captainaltcoin.com/overlooked-bitcoin-btc-and-cardano-ada-explore-this-top-crypto-opportunity-in-2023/" target="_blank" rel="noopener noreferrer nofollow">Overlooked Bitcoin (BTC) and Cardano (ADA)? Explore This Top Crypto Opportunity in 2023</a></li>
</ul>
<p>For now, JTO is seeing parabolic gains as the latest Solana ecosystem token to turn heads with an exhilarating launch. However, sustainability remains an open question until longer-term unlocking and distribution is achieved.</p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy thetrades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/why-is-jtos-price-pumping-jito-joins-the-list-of-solana-airdrops-that-outperform-expectations/" rel="noopener noreferrer nofollow">Why Is JTO’s Price Pumping? Jito Joins the List of Solana Airdrops That Outperform Expectations</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Is JTO’s Price Pumping? Jito Joins the List of Solana Airdrops That Outperform Expectations

Table of Contents

CaptainAltcoin

Other articles published on Dec 8, 2023

Judge Orders CZ to Remain in the US Until Sentencing

Solana Rallies Over 15% as Price Witnesses Strong Bullish Momentum

Dogecoin Influencer Believes DOGE Wallet Hack Was Planned And Targeted

Bitget Token: How High Will the BGB Price Go?

Bitcoin Spot ETFs Could See $40.4B in Inflows Over First Two Years: Report

Expert Crypto Analyst’s Warnings and Predictions on Altcoins

Join our free newsletter for daily crypto updates!