Jito Labs’ JTO Price Rises After “Experimental” Listing on Coinbase. Will this momentum continue?

Coinbase users can now trade the recently added Jito (JTO) token to the platform under the “experimental” label.

This move follows that of Coinbase. Almost Instant Decisions JTO will be listed after the Jito Protocol airdrop announcement.

According to Coinbase, the “experimental” label is assigned to assets that are new to the platform or have low trading volume, and it urges users to exercise caution due to potential risks such as price volatility and order cancellations.

Currently, JTO boasts a market capitalization of over $300 million and a significant 24-hour trading value of over $1.3 billion.

At the time of publication, the token is worth $2.80, reflecting a 50% surge within the first five hours of launch.

JTO, which serves as the governance token for Jito, a Solana blockchain-based project, is significant as Solana’s second-largest decentralized finance (DeFi) venture.

Jito will reportedly allow users to earn profits by pledging tokens to the network.

Jito Labs, the brains behind Jito, claims that their mission is to counteract the negative impact of maximum extractable value on Solana.

Their approach includes empowering community members through the decision-making power of the Jito Network.

Just yesterday, Jito Labs released the blueprint for the upcoming airdrop distribution, breaking down the 10% airdrop share (100 million JTO).

Of this stake, 15% will be allocated to Jito-Solana validators, 5% will be allocated to Jito MEV searchers, and a significant 80% will be allocated to JitoSOL users if they hold at least 100 points before November 25, 2023. assigned.

Nearly 30% of Solana’s shares now flow through Jito Labs clients.

Additionally, over 40% of Solana Network’s stake is actively participating in the Jito MEV validator network.

View related articles – Jito Labs’ Upcoming Airdrop, Token Claims and What to Expect