Jito soars 12% – How Solana’s $100K investment could help JTO push past…

Key Points

1. Jito (JTO) rose over 12% in the last 24 hours, with a monthly gain of approximately 30%, partly due to a strategic capital injection from Solana's internal fund.

2. Solana's Strategic Ecosystem Reserve (SER) purchased 52,180 JTO tokens worth ~$100,000 from the market, contributing to the price surge.

3. Spot market participants resumed JTO purchases, with $245,000 worth of JTO scooped up—more than twice the amount added to the SER.

4. JTO's Open Interest (OI) spiked to $81.7 million, its second-highest level, with historical data suggesting potential for further price increases if OI levels hold.

5. Technical indicators like the Moving Average Convergence Divergence (MACD) and Bull Bear Power suggest strong bullish activity and potential for a breakout.