Jito (JTO) price declines despite $24M in spot accumulation

Jito JTO token Total Value Locked spot accumulation crypto derivatives

Jito (JTO) has experienced a divergence between its market price and on-chain activity. Despite a weekly price decline of approximately 9.69%, the asset saw $24.72 million in spot buying over a four-day period, resulting in a net inflow of $2.02 million.

On-chain metrics show growth in protocol usage. The Total Value Locked (TVL) in Jito increased by $243.81 million since August 19, bringing the total to approximately $1.017 billion. This expansion in capital occurs alongside the price weakness.

In the derivatives market, funding rates decreased from 0.0143% to 0.0060%, which may indicate an increase in short positions. Regarding long-term value, the Jito Foundation has formalized a plan through JIP-38 to use 100% of the DAO's share of JTX revenue for JTO buybacks and burns. Additionally, the foundation is exploring institutional digital asset products based on JitoSOL in collaboration with Wavebridge.

Entities

Coinglass · DefiLlama · JTO · Jito · Wavebridge

Claims

What the coverage asserts, and how many sources carry each claim.

[○ 1 SOURCE] The Jito Foundation is reviewing institutional digital asset product structures based on JitoSOL with Wavebridge. www.tokenpost.kr
[● 3 SOURCES] On August 25, the price declined 15.13% between the candle's high and low. www.tokenpost.kr · bitcoinethereumnews.com · ambcrypto.com
[● 3 SOURCES] JTO saw $24.72 million in spot buying over a four-day period. www.tokenpost.kr · bitcoinethereumnews.com · ambcrypto.com
[● 3 SOURCES] Jito's Total Value Locked (TVL) reached approximately $1.017 billion. www.tokenpost.kr · bitcoinethereumnews.com · ambcrypto.com
[● 3 SOURCES] The netflow for JTO over the four-day period was $2.02 million. www.tokenpost.kr · bitcoinethereumnews.com · ambcrypto.com
[● 3 SOURCES] Jito's Total Value Locked (TVL) increased by $243.81 million since August 19. www.tokenpost.kr · bitcoinethereumnews.com · ambcrypto.com
[○ 1 SOURCE] The Jito Foundation formalized a plan to use 100% of the DAO's share of JTX revenue for JTO buybacks and burns. www.tokenpost.kr

Sources

2472만달러 매수에도 지토 주간 9. 69% 하락 [www.tokenpost.kr]

15 days ago

Jito price drops despite $24M spot buying - Are JTO bears at risk? [bitcoinethereumnews.com]

15 days ago

Jito price drops despite $24M spot buying - Are JTO bears at risk? [ambcrypto.com]

15 days ago