Why JTO token price goes up 20% today?

www.jito.network

Jito is a liquid staking platform for Solana. It currently has 6.3 million SOL in TVL.

JTO token is the governance token of the Jito platform. It allows community to vote on proposals to shape the future of Jito. JTO has max supply of 1 billion JTO.

Why JTO token price goes up 20% today?

1. Jito airdropped 90 million JTO tokens to eligible users.

Jito on X: "1. $JTO Airdrop Claim Opens Tomorrow! 🗓️ The airdrop claim window will open on December 7th, 2023 at 11am ET (Token Generation Date). Any eligible airdrop recipients will be able to claim their JTO tokens for 18 months, starting on the Token Generation Date. 

On December 7, 2023 JTO airdropped 90 million JTO tokens to eligible users. Eligible users can cliam the airdrop for 18 months, starting from December 7, 2023.

Currently JTO token is trading at $4.28 which means Jito distribute $385.2 million worth of JTO tokens to eligible users.

2. JTO tokens have been listed on major exchanges.

JTO token was first launched on December 7, 2023.

As of December 9, JTO tokens have been listed on major exchanges including Binance, Coinbase, KuCoin, Bybit, and Gate.io.  These major exchanges have an effect of JTO’s trading volume.

Information of JTO token.