Jito Surges 16% After Asia Expansion and Derivatives Activity Picks Up

Jito's price surged 16% after the company announced its expansion into Asia through partnerships with PDAX in the Philippines and Naver Pay in Korea. This move has increased access to Jito's liquid-staking ecosystem, contributing to the token's rally.

The trading activity also saw a significant increase, with spot trading volume pumping 114.22% to nearly $78 million, while derivatives traders took on more exposure as the price recovered. The Open Interest surged 28.96% to $55.53 million, and long positioning strengthened among top Binance traders.

The cup-and-handle structure developed on Jito's weekly chart has been a subject of interest, with the token rebounding from the handle's descending lower boundary and pushing toward $0.5763. However, downside liquidity could trigger a retest before Jito challenges $0.6075 again.