Jito Price Drops Amid Spot Accumulation and Rising TVL

Jito's price has taken a hit, dropping roughly 9.69% in just one week. Despite this decline, the spot market shows that investors are accumulating the asset, buying more than selling over the past four days.

According to CoinGlass data, the net flow has been $2.02 million, with total buying amounting to approximately $24.72 million. This suggests that investors are positioning themselves for a potential recovery, viewing the drop as an opportunity to buy at a discounted price.

Total Value Locked (TVL) in Jito's protocol has surged significantly, growing by $243.81 million since August 19th. The fees generated on the protocol have also increased, reaching $504,000 - the highest level since May 11th.

However, there is a risk that JTO could be at further risk of decline if the funding rate continues to drop and eventually flips into negative territory.