Solana liquid staking token JTO surges 85% post-exchange debut, following unique airdrop event

Solana-based liquid staking task Jito’s JTO token terms soared much than 80% pursuing its trading debut crossed aggregate large exchanges similar Coinbase and Binance.

Data from CoinMarketCap shows that JTO’s worth surged to much than $3 during the past day, representing an 85% maturation for the recently launched integer asset. JTO’s terms has retraced to $2.90 arsenic of property time.

JTO’s marketplace capitalization stood astatine $333 cardinal arsenic of property time, with a trading measurement of $1.4 billion.

Jito airdrop

On Dec. 7, Jito distributed 90 cardinal units of its governance token, JTO, to its aboriginal adopters arsenic portion of an airdrop program. While the full allocation for the airdrop is 100 cardinal tokens, representing 10% of the token’s full supply, users tin assertion their stock of the 90 cardinal implicit the adjacent 18 months.

Meanwhile, the token’s airdrop strategy gained attention from the crypto assemblage arsenic it mostly favored regular users. Observers suggested that this attack would payment Solana’s decentralized concern (DeFi) ecosystem, encouraging much retail traders’ participation.

Dan Smith, a researcher astatine Blockworks, hailed the airdrop arsenic a pivotal infinitesimal for drafting radical into crypto done its innovative reward structure. Smith highlighted the wide participation, saying:

“9,852 addresses claimed betwixt $9.8k and $208k from the Jito airdrop today. All you had to bash to suffice for tier 1 was play astir with $40 onchain, and you walked distant with $9,882 a fewer months later.”

The JTO token

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