In recent developments, @jito_sol has seen remarkable growth, setting new records across several key metrics. The platform reached an all-time high in daily fees, totaling $3.19 million, and daily revenue, which amounted to $160,000.
Notably, Jito served over 252,500 daily users, marking a significant milestone in user engagement. Concurrently, Jito manages over $2.2 billion in staked assets, also reaching a new peak.
Over the past week, Jito ranked sixth globally for total weekly fees, generating $12.2 million, while Solana led with $13.8 million. This performance underscores Jito’s robust position in the cryptocurrency space and its growing influence in decentralized finance (DeFi).
On a month-over-month basis, Jito has experienced substantial growth, with daily fees and revenue surging by 331%, and daily users increasing by 183%. The platform’s upcoming feature, jito Re-Staking, is expected to further enhance its market presence.
Over the past week, @jito_sol has gained considerable traction and has now set an all-time record in terms of daily fees (total validator tips paid), users, and revenue (share of tips that go to the protocol). The platform recently served over 252,500 daily users and generated… pic.twitter.com/YzHZ8lxkfB
— David Alexander II (@Mega_Fund) July 29, 2024
Jito Recently Overtakes Solana In Daily Fee Generation
In a striking turn, Jito recently surpassed Solana in daily fee generation, exemplifying its rapid ascent in the industry. Over the last six months, Jito has contributed 65% of the total fees generated by Solana, demonstrating its pivotal role in the ecosystem.
Comparatively, @LidoFinance has accounted for 36% of the fees generated by Ethereum over the same period, reflecting strong performances from both Jito and Lido in their respective sectors.
👀 @jito_sol just aggressively shot past @solana in daily fees.
Here's a little more context (and a comp to ETH/Lido) 👇
1. Over the last 6 months, Jito has done 65% ($283m) of the total fees that Solana has generated.
2. Over the last 6 months, @LidoFinance has done 36%… pic.twitter.com/oPirLDpUlg
— Michael Nadeau (@JustDeauIt) July 29, 2024
As of today, Jito boasts a Fully Diluted market capitalization (FD market cap) of $3.2 billion, highlighting investor confidence and market valuation growth amid its impressive operational metrics and strategic advancements in DeFi.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!