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<p><strong>Jito </strong>announced on July 25 that the code for Jito Restaking has been released. With this update on X, the JTO token price flew more than 20% thereon. However, it traded at $3.14 at press time with an intraday 7% gain.</p>
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   <p lang="en" dir="ltr">1. Announcing Jito Restaking: A Next-Gen Infrastructure Platform<br><br>The Jito Foundation is excited to release the code for Jito Restaking, a hybrid staking, restaking, and LRT module. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f91d.png" alt="🤝" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>Wtf is that? Lets dive in. ↓ <a href="https://t.co/7nDaZdnZIn" rel="noopener noreferrer nofollow">pic.twitter.com/7nDaZdnZIn</a></p>— Jito (@jito_sol) <a href="https://twitter.com/jito_sol/status/1816488798374830164?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 25, 2024</a>
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<p>With the growth, JIto’s market cap also surged to $387.98 Million from the low of $222 million, recorded on July 5th, 2024.</p>
<p>When writing, The spot volume also surged to $121.566 million. The volume-to-market cap ratio of 24 hours stood at 30.82%. It signified massive liquidity in the token, which makes it easier to buy and sell the crypto at an exchange close to its price value.</p>
<h2 class="wp-block-heading" id="h-what-does-the-derivatives-data-of-jito-jto-show"><strong>What Does the Derivatives Data of Jito (JTO) Show?</strong></h2>
<p>In the past couple of days, the liquidation data displayed bullishness in the derivatives. As in the <strong>Jito (JTO) </strong>market, the bulls reigned supreme as the shorts were higher than the longs.&nbsp;</p>
<p>The shorts liquidated value in 24 hours was $460.61K, whereas the longs liquidated only $92.60K.</p>
<figure class="wp-block-image size-large"><img fetchpriority="high" decoding="async" width="1024" height="259" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-157-1024x259.png" alt="JTO Total Liquidations Chart | Source: Coinglass" class="wp-image-628739" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-157-1024x259.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-157-300x76.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-157-768x194.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-157-1536x389.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-157-150x38.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-157-696x176.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-157-1068x270.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-157.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
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  JTO Total Liquidations Chart | Source: Coinglass
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<p>Similarly, with the bullishness in derivatives, the open interest has increased 11.47% in the recent trend, where the open contracts reached $61.38 Million. The derivatives volume has also increased to $362.37 million.</p>
<h2 class="wp-block-heading" id="h-what-do-the-fear-amp-greed-index-and-the-rich-list-of-jito-jto-signify"><strong>What Do the Fear &amp; Greed Index and the Rich List of Jito (JTO) Signify?</strong></h2>
<p>The <strong>fear and greed index</strong> signified higher greed in the market, where the widget of the alternative websites pointed to 72.&nbsp;</p>
<figure class="wp-block-image size-full"><img decoding="async" width="998" height="458" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-156.png" alt="Fear &amp; greed | Source: alternative" class="wp-image-628734" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-156.png 998w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-156-300x138.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-156-768x352.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-156-150x69.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-156-696x319.png 696w" sizes="(max-width: 998px) 100vw, 998px">
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  Fear &amp; greed | Source: alternative
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<p>As per <strong>JTO </strong>tokenomics data, the total supply was 1 Billion JTO, and the circulating supply at press time was 123.9 Million JTO. It makes 1.23% of the 100% float in the market, which is a major concern.</p>
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="262" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-155-1024x262.png" alt="Jito Holders | Source: CoinCarp" class="wp-image-628729" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-155-1024x262.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-155-300x77.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-155-768x197.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-155-1536x394.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-155-150x38.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-155-696x178.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-155-1068x274.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/07/image-155.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
  Jito Holders | Source: CoinCarp
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<p>Despite this, the rich list data from CoinCarp showed that the number of holders at the time of writing was 50,070. That indicated a surge in the graph of holders, with the top 10 holders holding 62.71%.</p>
<h2 class="wp-block-heading" id="h-impressive-growth-in-tvl-witnessed-in-jto"><strong>Impressive Growth in TVL Witnessed in JTO</strong></h2>
<p>The rise in the total value locked (TVL) in <strong>Jito (JTO)</strong> over time reflected the increase in the demand for the project.&nbsp;</p>
<p>The total TVL has reached an all-time high of $2.199 Billion, per the DefiLlama. Additionally, a surge from nearly $650 Million has been displayed, almost 3x in the past 7 months.&nbsp;</p> <iframe loading="lazy" width="100%" height="425px" src="https://defillama.com/chart/protocol/jito#information?&amp;include_staking_in_tvl=true&amp;theme=dark" title="DefiLlama" frameborder="0"></iframe>
<p>It showed the Jito (<a href="https://www.thecoinrepublic.com/price-prediction/jito/" rel="noopener noreferrer nofollow">JTO</a>) growth at an impressive scale at the time of writing. It reflected that the more the TVL is, the better, more reliable, and less risky the asset is.&nbsp;</p>
<h2 class="wp-block-heading" id="h-decoding-price-behavior-of-jito-jto-on-the-daily-chart"><strong>Decoding Price Behavior of Jito (JTO) on the Daily Chart</strong></h2>
<p>At the beginning of 2024, the <strong>JTO </strong>token price surged more than 250% on the daily chart.</p>
<p>The price flew from $1.5 to $5.33, but it was submitted to profit bookers. That drove the assets’ price lower to $2.54 by mid-April 2024.</p>
<p>Jito token’s price attempted again to rise, but at $4.75, the bearishness shattered the $2.5 support and dropped to $1.5 by July 5th.</p>
<p>Thereon, the price displayed a bullish spell in resonance with the broader market. The price displayed more than 90% gains in the past three weeks.</p> 
<p><a href="https://in.tradingview.com/chart/JTOUSD/bX4gTFiB-Decoding-Price-Behavior-Of-Jito-JTO-On-Daily-Chart/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/u/Sam_TCR/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"></a></p> 
<p>The indicators were bullish, and the 50-day EMA has pushed the growth of the asset.&nbsp;</p>
<p>MACD has displayed an ongoing surge in process, where the histogram has grown at 0.0955. The RSI flashed at 64.11, above the median line and 14-SMA.</p>
<p>The overall price structure highlighted bullishness. When writing, the nearest targets were $3.83 and $4.75, respectively. On the contrary, the support levels were at $2.44 and 1.50, respectively.</p>
<h2 class="wp-block-heading" id="h-jito-price-performance-assessment"><strong>Jito Price Performance Assessment</strong></h2>
<p>In short, <strong>Jito’s </strong>price surged over 20% on restaking code release, its market cap tripled, liquidity boomed, and derivatives were bullish. Majorly, the TVL hit ATH with $2.2 Billion. However, concerns over low circulating supply still persisted.<br></p>
<p>The post <a href="https://www.thecoinrepublic.com/2024/07/28/jito-soars-20-on-restaking-code-release-can-it-hit-10/" rel="noopener noreferrer nofollow">Jito Soars 20% on Restaking Code Release, Can It Hit $10?</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

Jito Soars 20% on Restaking Code Release, Can It Hit $10?

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