Jito (JTO) token fell 13.234% to $0.4563 within 24 hours as its total value locked (TVL) dropped by over $193 million to $1.076 billion since October 5. Fees tracked by the protocol also declined sharply by 58.56%, from $532,600 to $220,729. Despite the decline in TVL, which reflects the dollar value of assets held in smart contracts and can fluctuate with asset prices, Jito DAO approved using 80% of JTX fees for JTO token buybacks and burns through at least the fourth quarter of 2027. This move aims to support the token's value as JTO holders participate in governance decisions for the network.
JTO trades at Rp8,530 on Pluang with a 5.17% decline as of Oct 16, 2026 00:41 WIB, showing continued pressure after the recent TVL drop reported in the news. The token’s market cap stands at Rp4.56 trillion with a high sell order activity of 99%, indicating strong selling interest among Pluang users. This aligns with the news of Jito DAO’s efforts to stabilize the token through buybacks and burns.
