Jito Finance Defies Odds with 131% Rally Amid Investor Confidence

Jito Finance (JTO) has emerged as one of the market's most resilient tokens in recent days, defying the odds stacked against many altcoins. Its price surged by approximately 11% over the past few days, extending a rally that has delivered a remarkable 131% gain across the last 90 days.

The asset's on-chain strength can be attributed to significant investor capital flowing into the protocol. The Total Value Locked (TVL) climbed sharply over the past three days, rising by more than $44.12 million to reach $768.78 million at the time of writing.

Earnings data from Jito also points to another reason behind its recent price action. The protocol has already booked roughly a third of its entire Q2 earnings just two months into Q3, with total earnings reaching $489,140 at the time of writing, set against the $1.48 million booked through Q2.

However, despite these bullish signals, Jito's spot selling remains a concern. A sustained price rally typically needs simultaneous inflows into both the perpetual market and the spot market. Spot market data shows heavier selling as investors decline to hold the asset and take advantage of the rally to exit.