Jito Token Soars 39% Amid Solana Staking Competition Heats Up
Jito, a liquid staking protocol built on Solana (SOL), saw its token price surge by 39% in 24 hours to $0.578.
The daily trading volume reached $393.6 million against a market cap of $271.2 million, exceeding the 1.4x volume-to-market-cap ratio that's rarely sustained beyond short momentum windows.
Jito operates by allowing users to stake SOL and receive JitoSOL in return, which accrues staking rewards while remaining usable across Solana's DeFi ecosystem.
The protocol also extracts and redistributes MEV (maximal extractable value) to validators and stakers through its block engine, setting it apart from simpler staking wrappers.
JTO serves as the governance token for the Jito DAO, where holders vote on protocol parameters, fee settings, and treasury deployment.