Jito (JTO) price drops nearly 10% despite $24.7M spot accumulation and rising on-chain capital.

Jito (JTO) has seen a nearly 9.7% price decline this week, even as spot market data shows $24.72 million worth of net buying over four days, indicating strong investor accumulation. Total Value Locked (TVL) on-chain has also surged by $243.81 million, reaching about $1.017 billion, signaling growing confidence in the asset's long-term potential. However, an increasing number of short positions, reflected by a falling funding rate, could pose downside risks if the trend continues. For now, the market appears to be accumulating JTO at discounted prices, positioning for a possible recovery.