Jito (JTO), a Solana-based liquid staking and re-staking protocol, saw its token price surge over 30% after releasing a robust quarterly report. The report highlighted significant growth in the protocol, with cumulative Jito-enabled staked tokens reaching 418 million SOL and the number of validators increasing by 56% to 356. Additionally, 9.7 million JTO tokens were burned, reducing the circulating supply to 473.83 million. The report also noted a dramatic increase in JTO's daily trading volume, which soared by 605% to $168 million, reflecting a broader trend of rising decentralized exchange (DEX) activity. Despite a decline in Total Value Locked (TVL) from $400 billion to $197 billion, JTO's price remains bullish, holding above the $0.35 support level and targeting $0.70. The positive momentum is supported by strong capital inflows and trading indicators.
Jito Token JTO Surges 30% Following Strong Q1 Performance
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