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crypto.news 2025-03-07 17:24:48

JTO price stuck in a bear market as Jito’s revenue hits $410m

Jito price remains in a deep bear market after falling by over 40% from its highest level in December last year. Jito ( JTO ), the biggest liquid staking and restaking network on Solana, was trading at $2.5, bringing its market cap to $787 million. Third-party data shows that Jito has become the third most profitable players in the crypto industry after Tether and Tron ( TRX ). It has made $411 million this year, making it more profitable than popular chains like Solana ( SOL ) and Ethereum ( ETH ). Jito, which has $2.34 billion in assets, is even more profitable than Lido, the biggest liquid staking player in crypto, which has over $20 billion in assets. The token has likely underperformed because of its tokenomics. It has a maximum supply of 999.9 million tokens against a circulating supply of 301 million. It then unlocks 11.31 million JTO tokens each month, a process that will continue until December 2026. You might also like: Here’s why crypto prices may crash after the Trump summit Token unlocks are usually bearish since they introduce new tokens and dilute existing holders. In line with this, the developers proposed a new method of improving its tokenomics and potentially boosting its price. If agreed by the community, Jito will evamp its tokenomics by introducing buybacks and barter, real yield gauges, and rewards or fee switch mechanisms. Real yield gauges is inspired by Curve, while buyback and barter is a process where protocol fees are swapped to JTO tokens and then deployed to partner DAOs. It is unclear which option that the Jito Foundation will opt. However, chances are that the proposal the community selects will help to boost the JTO token price. Jito price analysis JTO price chart | Source: crypto.news The daily chart shows that the JTO price has pulled back in the past few weeks, even as the protocol revenue has risen. It dropped from $4.3 in December to $2.5. The coin has moved slightly below the 25 and 50-day Exponential Moving Averages, a bearish sign. On the positive side, it is in the process of forming a falling wedge pattern, a popular bullish reversal sign. This pattern is made up of two converging downward-sloping trendlines. A breakout happens when the two lines are about to meet. Therefore, the coin will likely have a strong bullish breakout, with the next point to watch being at $4.33, its highest level in December. You might also like: Fold buys 475 Bitcoin, enters top 10 of US companies holding BTC

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