Jito's price has declined 9.69% this week, yet spot market activity tells a different story. According to CoinGlass data, buyers have accumulated roughly $24.72 million in JTO over the past four days, with a net inflow of $2.02 million, indicating sustained demand despite the price drop.
The largest accumulation occurred on August 25th, a day when JTO's price fell 15.13% between the candle's high and low. Continued buying during price declines often signals that investors view the drop as a discount-buying opportunity, particularly when the pattern persists over multiple days.
On-Chain Capital Expanding
Beyond spot markets, on-chain metrics show growing investor commitment to the protocol. Total Value Locked (TVL) surged by $243.81 million from August 19th, reaching approximately $1.017 billion at the time of reporting. TVL measures capital deposited in a protocol to generate yield and typically reflects investor expectations about long-term protocol performance.
Protocol activity has increased alongside this capital inflow. Fees generated reached roughly $504,000, the highest level since May 11th, indicating that rising TVL is accompanied by increased user engagement rather than capital sitting idle.
Funding Rate Signals Growing Short Positions
Not all indicators support a bullish outlook. The funding rate—which tracks whether long or short positions dominate across exchanges—declined from 0.0143% to 0.0060%, suggesting that short positions are increasing. If this trend continues and funding rates flip negative, JTO could face additional downward pressure.
For now, the market appears to be in an accumulation phase, with spot buyers and on-chain capital commitments suggesting investors expect a potential recovery despite near-term price weakness.
