- The TVL of the Jito protocol has surged significantly in the past 24 hours.
- This protocol occupies a key point in the Solana blockchain.
- It also joins the top five liquid staking protocols across all blockchains.
Liquid staking project Jito is now the largest protocol on the Solana blockchain in terms of Total Value Locked (TVL), according to DefiLlama data.
Jito’s rise to the top spot comes amid a resurgence in Solana’s ecosystem-wide TVL, which is now up approximately 150% year-on-year. Despite being down 63% from its November 2021 peak of $10 billion, Solana’s TVL is now at $3.7 billion, up from its low of $210 million during the 2022 bear market.
Jito’s TVL grows to $1.4 billion.
According to DeFiLlama data, the total locked value of Jito increased 15.99% in the last 24 hours to $1.4 billion, accounting for nearly 38% of Solana ecosystem TVL.
With approximately 10 million SOL in TVL, Jito is the largest protocol on Solana, followed by Marinade and Kamino with $1.35 billion and $1.026 billion in TVL, respectively. Decentralized exchange Raydium ranked fourth on TVL with $612.77 million, followed by Marginfi with $420.22 million.
These achievements also place Jito in the top five cohorts of leading overall liquid staking markets across all blockchains, with the protocol currently accounting for 3% of the $45.5 billion value locked in liquid staking protocols.
Lido still dominates the overall liquid staking market with a TVL of $27.6 billion, ahead of Rocket Pool, Binance, and Mantle with $3.6 billion, $2.6 billion, and $1.4 billion respectively.
Meanwhile, Jito’s token, JTO, has made a strong comeback after weathering market headwinds in April. The token surged 24.93% in the past 24 hours to trade at a daily high of $3.57, according to CoinMarketCap data.
Read about Jito’s recent JTO launch with a massive airdrop.
Jito Airdrop Launches $225 Million JTO Tokens to Solana Users
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