The excitement of Bitcoin has laid the foundation for the bull market. High-quality altcoins will have a relatively good pull-up anyway. During this period, it will be more beneficial to hold medium- and long-term spot positions. I will continue to recommend spot currencies for you. Today, I recommend JTO. In fact, I have analyzed this coin many times, including in April this year. The big cake has peaked and fallen back, but JTO's performance is still strong. Coin friends who follow me can still get considerable spot returns in the adverse environment.
JTO is a currency on the SOL ecosystem. The current market value of SOL is also rising continuously, and there is still a 20% increase from the historical high of 260. Xunzhang believes that it is inevitable to surpass the historical high. The development of SOL's ecology is relatively intact, and SOLANA can already process 140,000-170,000 TPS in the test network, far exceeding the double-digit processing speed of Ethereum. Many ecological projects on Ethereum are transferred to SOL, which will continue to stimulate the improvement and growth of the ecology.
Jito Network is a Solana liquidity staking service provider with an open source Solana validator client that allows stakeholders to earn Solana staking rewards and obtain MEV through its MEV software suite. Users can exchange SOL for JitoSOL. In return, holders can maintain SOL liquidity and DeFi opportunities while earning returns through staking. JitoSOL uniquely provides its holders with additional rewards for transaction income related to MEV extraction on Solana. Jito's monthly fee revenue in October reached US$78.9 million, double the record in May, surpassing DeFi protocols such as Lido and Uniswap. The single-day tip income on October 24 was as high as US$6.14 million, showing the growth in demand for MEV extraction services on Solana.
Xunzhang believes that from the perspective of the project, JTO relies on the SOL ecological chain and does protocol pledge, which is sustainable, and the protocol income has repeatedly set new highs. A positive cycle has been opened, and the demand for JTO will also increase greatly. Therefore, this project is not a castle in the air. The rise in prices is a display of value rather than speculation, and it is very suitable for medium and long-term holdings.
At present, from the historical perspective, between April and May of this year, Bitcoin was in a retracement phase, and JTO was still constantly testing the high of 5.0. However, due to the deep decline and adjustment in the entire market environment, its price failed to successfully break through. However, the multiple active buying and counter-trend pull-ups at that time allowed the main force to accumulate high-priced chips. Therefore, Xunzhang believes that the main force will continue to pull up to untie its own positions and go higher to gain more profits. After all, the project itself has advantages, and the market is more likely to accept high-priced JTO in the later stage.
The current market value of JTO is only 400 million US dollars (corresponding to the JTO price of 3.15 US dollars), which belongs to the small and medium-sized stocks. The market value of SOL in its ecosystem has reached 101 billion US dollars (corresponding to the SOL price of 214 US dollars). From this point of view, JTO still has a large growth space to demonstrate its value in the ecosystem. It is expected to be above 12 US dollars in the medium and long term. And at present, the price rebounded from the daily support level of 1.8 to around 3.1 and then went sideways. The price support is strong. The price rises slightly and the speed of its follow-up is fast, indicating that its main force has a plan to continue to quickly pull up. Xunzhang believes that JTO can participate in medium- and long-term holdings.
Regarding entry, it is recommended to enter the market in the short-term support zone of 2.75 to 2.85. If the price is below 2.50, you can add more positions. The short-term target is 3.20, the medium-term target is 3.80, and the medium-term target is 4.5-5.0. After the price stabilizes above 5.5, you can bravely look at more than 12 US dollars. $SOL $JTO
A must-read for cryptocurrency enthusiasts: The main players have various trading methods, and ordinary participants can easily be confused and suffer losses. Pay attention to the medals in time to help you stand at a high position and pursue cryptocurrency wealth from a professional perspective.
