Jito Network, one of the Solana ecosystem protocols, has made one of its largest airdrops to date. After that, today went into a celebration mode. Meanwhile, listing news for the altcoin continues to come. Binance, which had previously added it to its list in the spot market, is now listing JTO in the futures market. The giant cryptocurrency exchange announced that it added the token to its list with 50X leverage.
Binance adds JTO to its futures list with 50X leverage
As you follow on Kriptokoin.com, while the market started the day calmly, Ethereum and Solana showed high performance. Some recent positive developments are effective in the background of Solana’s performance. For example, Jito Network (JTO), a Solana-based altcoin, had a successful airdrop. In addition, it managed to enter the list of leading stock exchanges. Now, it is also entering the futures market of Binance, where it was previously included in the spot list. In this context, Binance made the following statement for the listing:
Binance Futures will launch the USDⓈ-M JTO Perpetual Contract on 08.12.2023 at 13:00 ET with up to 50x leverage.
Altcoin hits ATH after Solana airdrop
The Solana ecosystem has conducted one of the largest airdrops to date of one of its protocols, Jito Network (JTO). After this, Jito went into a celebration mode today. Shockingly, the airdrop did not have the expected impact on JTO. Because the token did not see any serious sales pressure and continued to fly high. The altcoin reached its all-time high of $3.18, a jump of up to 88%. However, the token later lost altitude. At press time, JTO was trading at $2.75, up 65.6% on a daily basis.
JTO daily price chart. Source: CoinMarketCapIn the first wave of sales that accompanies airdrops, most token buyers tend to dispose of their tokens. Therefore, airdrops historically bring with them a large fluctuation in the price of the respective altcoin. Jito Network’s situation looks different as there is no negative selling trend, as measured by a steady trading volume of $1.2 billion in the last 24 hours.
There will be support for Solana!
After emerging as the best-performing cryptocurrency of the year, Solana appears to be saving the best for last. As correctly predicted, the altcoin is entering airdrop season with many projects on track to go live on the mainnet with plans to airdrop native tokens to community members.
Solana is now trying to repeat the successes he achieved by launching promising tokens like the leading altcoin Ethereum (ETH) and Arbitrum (ARB) in the early days of Binance Smart Chain (BSC). With the emotions surrounding Jito, it is possible that Solana will receive additional support to end the year on a brighter note.
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