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Jito (JTO) token price continued its upward trend on Saturday as Solana jumped to a high of $200. The coin soared to a high of $3.90, its highest point since December 9th. It has soared by more than 150% from its lowest point this year, giving it a market cap of over $300 million.

Jito, a leading player in the liquid staking industry, is slowly catching up to Marinade Finance. Data in its website shows that investors have deposited 8.9 million Solana tokens in the ecosystem. At the current price, Jito has over $1.7 billion in assets.

More than 89k investors have added their Solana tokens to the ecosystem. They are earning an APY of 7.90%.

Jito, which was launched a few months ago, is quickly catching up with Marinade Finance, the biggest player in Solana’s ecosystem. Marinade has over 10.3 million Solana tokens, with a total value locked (TVL) of over $2 billion. There are over 107.5k investors in Marinade Finance.

Jito and Marinade Finance have become the biggest players in the liquid staking industry as Solana continues to gain market share in the crypto industry. 

Solana’s market cap has surged to more than $85 billion, making it the fifth-biggest cryptocurrency in the industry after Bitcoin, Ethereum, Tether, and BNB.

Most of Solana’s market cap has been staked. According to StakingRewards, over $72 billion worth of Solana tokens has been staked.

Liquid staking is one of the fastest-growing areas in the crypto industry. It differs from the traditional staking approach in that stakers can withdraw their funds and rewards before the end of the month.

The post JTO token price spikes as Jito closes the gap with Marinade Finance appeared first on Invezz

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