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On the first day after launch, the trading volume of the JITO token exceeded $1 billion

On the first day after launch, the trading volume of the JITO token exceeded $1 billion

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by Max Nevskyi

2 years ago

At launch, the development team distributed 80 million tokens among the community, early adopters, validators, and other protocol participants. Currently, 115 million tokens are in circulation, with a total cap of 1 billion. The initial price was set at $2, then the JITO token price rose by 45% to $2.9 in one day. Later, the price increased by another 15%, reaching $3.35.

A minimum of 4,941 JITO was distributed among 9,800 users who interacted with the protocol early on and staked their SOL coins. Thus, each user received at least $16,500 at the current rate.

The Jito protocol allows the use of SOL coins for staking and obtaining derivative tokens JitoSOL. Currently, about 6.4 million SOL coins, equivalent to $460 million, are locked in the protocol. The protocol developers - Jito Labs - are also responsible for creating one of the most popular clients for validators of the Solana network.

The Solana network continues to develop rapidly, and Arthur Hayes, the former CEO of the BitMEX exchange, predicts further growth in the coin's price to at least $100.

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