Jito (JTO) Attracts Attention Amid Market Downtrend

Amid the ongoing downtrend in the broader digital asset market, Jito (JTO) is drawing significant interest due to its growth potential. Recently, data from Spot on Chain revealed that a whale purchased a substantial amount of Jito and staked it.

> A newly created wallet just withdrew 96,128 $SOL ($12.37M) from #Binance at $128.6 and staked it all with #Jito.
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> Notably, it links to a whale who closed its first SOL trade at a higher price of $140.8 ~3 days ago, allegedly profiting $4.58M (+51%) after a year of staking.…
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> — Spot On Chain (@spotonchain) February 28, 2025

Whale Staked $12.37 Million in Jito Tokens

According to today’s metrics from Spot on Chain, a whale created a new wallet and took advantage of a price dip, accumulating 96,128 Solana tokens valued at $12.37 million from Binance at an average price of $128.6.

The whale then staked all the SOL tokens with Jito, meaning they exchanged their Solana tokens for Jito tokens through the staking process. This strategic move demonstrates the rising popularity of Jito staking among savvy investors.

JTO’s on-chain metrics reflect that this buying activity occurred during a 7.6% price decline, indicating renewed interest from whales while the altcoin is trading above its major support level of $2.01.

Despite JTO’s price drop, whales are positioning themselves strategically, which could significantly influence the token’s price and liquidity. The surge in whale accumulation is attributed to the appealing staking opportunities presented by Jito, making it an attractive option for investors seeking diversification in their investment growth.

Long-term staking appears to reward large holders aiming to benefit from the price increase of JTO and the potential rewards accrued from staking, with reports indicating APYs of up to 125% for those staking with Jito.

JTO Price Updates

Jito has experienced a downtrend over the past month, following the broader slump in the crypto market since early February. The current asset price stands at $2.36, having decreased by 7.6% in the last 24 hours. However, the ability to maintain its value above the crucial support level of $2.01 indicates that whales are actively participating in the market around this price point.

The increasing activity from whales suggests that as more large investors stake JITO, the circulating supply of JTO on exchanges will decline, potentially applying upward pressure on the price.

This whale acquisition signals long-term confidence in Jito’s future. By staking JTO, significant investors are committing to the platform’s future success, contributing to growth and stability as its network expands.