On the verge of the SOL staking ETFs, $JTO is trading near all-time lows - the same level as the post launch dump and the tariff tantrum.
Meanwhile, the $JTO market cap is 20% above the April lows and 3x the launch lows.
Jito has a tier-1 team building critical infrastructure and generating hundreds of millions of dollars in fees with one of its largest catalysts ever approaching.
Either the market is offsides, or $JTO is another example of supply overhangs being an impossible obstacle for public-market price discovery.
Similar situation as $ENA, which had one of the most bullish stretches of announcements I’ve seen, yet the price is down 40% from the recent local pico top.
Lessons learned for both private and public market participants alike here.
h/t @DefiLlama for the data
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