JTO (Jito) rose 6.10% in the last 24 hours.

Gate News Bot news, on October 17th, according to CoinMarketCap data, as of the time of writing, JTO (Jito) is currently priced at $1.18, with a pump of 6.10% in the last 24 hours, reaching a high of $1.59 and a low of $0.49. The current market capitalization is approximately $459 million, an increase of $26.4 million compared to yesterday. JTO is currently ranked 122nd in global Crypto Assets market capitalization.

Jito Network is a network that provides MEV optimization infrastructure and deep DeFi integration for the Solana ecosystem, aimed at delivering unparalleled staking efficiency and liquidity. JitoSOL is Jito's liquid staking token, combining staking rewards and MEV rewards, providing users with a unique way to maximize returns on Solana. Jito has also launched the (Re) staking feature, allowing users to stake Solana assets across multiple networks simultaneously, providing security to these networks and earning rewards.

Important news about JTO recently:

1️⃣ Large-scale investment from venture capital, market confidence is increasing The well-known venture capital firm Andreessen Horowitz's crypto division a16z crypto has invested $50 million in Jito Labs. This investment highlights institutional investors' continued optimism about the development of the Solana ecosystem, particularly their confidence in Jito's prospects in the MEV infrastructure sector on the Solana chain.

2️⃣ MEV technology recognized, expected to promote protocol development Jito Labs focuses on developing maximum extractable value (MEV) infrastructure on the Solana blockchain. This significant investment not only provides ample financial support for Jito but also indirectly reflects the growing recognition of MEV technology's importance in the blockchain sector by mainstream investors. This may promote further innovation in MEV optimization and DeFi integration for Jito.

3️⃣ Solana ecosystem receives support, JTO potential stands out As an important project in the Solana ecosystem, the development and growth of Jito is beneficial for the performance improvement and application expansion of the entire Solana network. This investment not only brings financial support to Jito but may also attract more developers and users to pay attention to the Solana ecosystem, indirectly promoting the rise in demand for JTO.

From a technical perspective, the JTO price has shown a significant pump under the stimulus of this positive news, but it is still necessary to pay attention to the potential pullback risks in the short term. In the long term, with the continuous development of the Jito protocol and the prosperity of the Solana ecosystem, the fundamentals of JTO are expected to further improve.

This message is not intended as investment advice; investors should be aware of market volatility risks.