Jito’s native token, JTO, has enjoyed a solid 42% rise year-to-date, but recent days have told a different story. The token slipped 11.59% in the last 24 hours as sellers gained momentum, dragging the price downward and raising concerns about further losses.

Massive TVL Decline Adds to Bearish Sentiment

The total value locked (TVL) in Jito’s protocol took a sharp hit, shedding over $59 million from its peak of $791 million on July 23. This drop signals a waning long-term confidence among investors, as TVL is a key indicator of a protocol’s health and the commitment of capital. The decline is mirrored in centralized exchanges where derivatives markets show a 16% fall in Open Interest (OI) and a net outflow of $1.62 million, reinforcing the bearish mood.

Protocol Earnings Offer a Ray of Hope

Despite the market pressure, Jito’s earnings tell a more optimistic tale. July’s revenue, with several days still to be counted, already surpasses June’s total, reaching about $324,000 compared to June’s $312,000. This improvement comes even as the token’s price slid 32% during the month. also the Funding Rate remains positive at 0.0027%, indicating that most capital around $47 million is backing long positions rather than selling. Such dynamics suggest that bulls haven’t completely lost grip and a rebound remains plausible.

Liquidation Clusters Point to Potential Price Movements

The liquidation heatmap reveals a dense cluster of liquidation orders sitting well above JTO’s current price, acting as a magnet that could pull the token upward. However, thinner clusters below leave room for the price to fall further before any recovery might take hold.

The ongoing tug of war between sellers and buyers is shaping JTO’s near-term outlook. While the recent $59 million TVL drop and falling Open Interest add pressure, steady protocol earnings and favorable funding rates keep the door open for a turnaround. Traders and investors will be watching closely to see if JTO can capitalize on these bullish signals or if the bears will push the token lower in the days ahead.

Material provided for informational purposes only and does not constitute financial advice.