Ethereum

2024

Solana

Jito

<p class="is-style-lead">Jito, the biggest staking network on Solana, is performing well as assets in its ecosystem soar to a record high.</p> 
<p>Jito (<a rel="" href="https://crypto.news/price/jito/">JTO</a>) token rose to the important resistance point at $2.50, its highest swing since Sep. 30, and 37% higher than its lowest level this month.</p> 
<p>Data shows that the amount of assets staked in the network jumped to a record high of $2.3 billion, significantly higher than the January low of $247 million. Jito’s total value locked rose to 13.20 million million in Solana (<a href="https://crypto.news/price/solana/" target="_blank">SOL</a>) terms.</p> 
<p>More data indicates that Jito’s <a href="https://defillama.com/dexs/chains" target="_blank" rel="nofollow">customer base</a> has surged to 116,000, while monthly fees have risen to a record high. It has generated $50 million this month, a substantial increase from the $13 million earned in September. Additionally, the number of Jito token holders has climbed to 55,000.</p> 
<p> You might also like: <a rel="" href="https://crypto.news/near-token-could-surge-225-crypto-analyst-predicts/"> Near token could surge 225%, crypto analyst predicts </a> </p> 
<h2 class="wp-block-heading" id="key-player-in-blockchain">Key player in blockchain </h2> 
<p>According to <a href="https://tokenterminal.com/terminal?v=NjdmMzczMzE0ZjQ0NWI5Nzk1ZTMxZGM2" target="_blank" rel="nofollow">TokenTerminal</a>, Jito has become one of the most profitable players in the blockchain industry. It has generated $295 million in fees this year, while Solana has earned $404 million.</p> 
<p>These numbers suggest that the network is thriving as Solana evolves into the most popular blockchain this year.</p> 
<p>Data from <a href="https://www.coingecko.com/en/categories/solana-meme-coins" target="_blank" rel="nofollow">CoinGecko</a> shows that Solana’s meme coins have achieved a market cap of $12 billion. The biggest tokens in the ecosystem are Dogwifhat, Bonk, and Popcat, which have valuations of $2.5 billion, $1.58 billion, and $1.5 billion, respectively.</p> 
<p>Solana has also surpassed Ethereum in terms of cryptocurrencies traded this month, handling tokens worth $39 billion, while Ethereum’s volume was $31 billion.</p> 
<p>Jito is a liquid staking platform that allows users to generate returns by holding Solana. It is often viewed as a better alternative to traditional staking because users can withdraw their funds at any time.</p> 
<p>Jito has also launched a restaking solution, which enables users to earn additional rewards by delegating their already staked assets. On Oct. 23, the network welcomed Temporal as a new node operator for its restaking solution.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr">And another one! <br><br>Join us in welcoming <a href="https://twitter.com/temporal_xyz?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@temporal_xyz</a>, a next-gen Solana native research and development firm, as a Node Operator on Jito (Re)staking! 🎉 <a rel="nofollow" href="https://t.co/ctcUk6i46b" target="_blank">https://t.co/ctcUk6i46b</a> <a rel="nofollow" href="https://t.co/DPPYDHYpz6" target="_blank">pic.twitter.com/DPPYDHYpz6</a></p>— Jito (@jito_sol) <a href="https://twitter.com/jito_sol/status/1849187105794043985?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">October 23, 2024</a>
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</figure> 
<h2 class="wp-block-heading" id="jito-is-showing-signs-of-bottoming">Jito is showing signs of bottoming</h2> 
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 <img loading="lazy" decoding="async" width="3574" height="1982" src="https://crypto.news/app/uploads/2024/10/Jito-Price.png" alt="Jito Price" class="wp-image-14305807">
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  JTO chart by <a href="https://www.tradingview.com/symbols/JTOUSD/?exchange=COINBASE" target="_blank" rel="nofollow">TradingView</a>
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<p>The daily chart shows that the JTO token found a strong bottom at $1.8415, where it failed to move lower since July, marking the lower side of the descending triangle pattern.</p> 
<p>Jito has risen above the descending line of the triangle pattern. It has also climbed above the 25-day and 50-day Exponential Moving Averages and the 78.2% Fibonacci retracement level.</p> 
<p>Therefore, the token may continue rising, with the next target being $3.3345, the 50% retracement level, and the highest swing on June 31. This price is about 41% higher than its Oct. 24 level.</p> 
<p> You might also like: <a rel="" href="https://crypto.news/binance-launches-goatusdt-contract-with-up-to-75x-leverage-amid-meme-coin-craze/"> Binance launches GOATUSDT contract with up to 75x leverage amid meme coin craze </a> </p>

Jito token rises as staked assets, fees, and users jump

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