TL;DR
- JTO has fallen 19.3% over the past week and is trading at $0.4510 after losing another 10% in the last 24 hours.
- Jito’s Total Value Locked has declined by more than $193 million since October 5, while protocol fees have dropped 58.56%.
- JTO outflows from exchanges could indicate a growing willingness to hold tokens despite bearish market pressure.
The JTO token, associated with the Jito protocol, has recorded a 19.3% decline over the past week, amid weakening on-chain activity and a reduction in capital deposited in the protocol.
Over the last 24 hours, JTO has lost another 10% and is trading at $0.4510. Its trading volume increased by 55%, reaching $53.6 million, despite continued selling pressure.
The decline coincides with a reduction in Total Value Locked (TVL) and fees generated by Jito, two indicators used to assess protocol activity.
Jito’s TVL Drops by $193 Million
According to DeFiLlama data, Jito’s TVL has declined by more than $193 million since October 5, reaching approximately $1.076 billion.
This reduction may result from both capital withdrawals and changes in the prices of deposited assets, meaning it does not necessarily confirm an equivalent outflow of funds.
Protocol fees also fell from $532,600 to $220,729, a 58.56% contraction over the same period.
Derivatives Market Shows Bearish Pressure on JTO
In the perpetual futures market, JTO recorded net outflows of approximately $3.8 million over the past 24 hours, while gross outflows reached $30.59 million.
The funding rate fell to -0.0020%, while open interest stood at $46.93 million.
Meanwhile, spot exchange flows showed net withdrawals of approximately $635,000 over the past day.
Net flows also remained negative over the three-, five-, and seven-day periods, according to CoinGlass.
Although these movements could be associated with accumulation strategies or long-term custody, exchange withdrawals do not confirm new purchases or guarantee a recovery in JTO’s price.
