Jito Overtakes Lido to Become the Leading Fee-Generating Protocol Across All Blockchains

Jito today surpassed Lido in 24-hour fee collection, according to DeFiLlama data. According to the data, the Solana-backed platform collected a staggering

DeFi protocol Jito took the top spot among fee-generating protocols across Blockchains, while Solana became the fourth largest cryptocurrency by market capitalization.

DeFi protocol Jito took the top spot among fee-generating protocols over all Blockchains in the last 24 hours, while Solana became the fourth largest cryptocurrency by market capitalization.

According to DeFiLlama data, Solana-backed platform Jito collected the highest 24-hour fees of $3.27 million among all protocols. Lido came in second with $2.94 million in fees over the same time period.

However, over the last seven days, Lido maintained its higher ranking with $20.83 million in fees generated compared to Jito’s $11.12 million.

Among the other prominent players on the list were Raydium in third place, followed by Solana and Ethereum when comparing the 24-hour fee generation model.

Jito is a MEV-powered liquid staking protocol that offers SOL staking while generating revenue in the system’s native token, JTO. Lido, on the other hand, is a liquid staking protocol for Ethereum and Polygon with the native token LDO.

Both JTO and LDO prices experienced contrasting movements during the day. JTO price moved in both red and green zones throughout the day.

The altcoin reached $3.27 at the time of writing, up 24 hours by 5.24%. The price’s 24-hour lows and highs were recorded at $3.02 and $3.33, respectively.

Meanwhile, the LDO price increased by 2.68% to $1.61 in the same period. The 24-hour lows and highs of the price were recorded at $1.56 and $1.66, respectively.

At the same time, JTO’s futures OI fell 1% to $58.06 million in line with the price’s volatile movement. Meanwhile, even LDO futures fell 1.75% to $94.71 million.

Nevertheless, Jito’s aforementioned success remains a topic of interest as it could lead to increased interest in the ecosystem and the use of the platform. This could prove to be a bullish direction for the JTO token.

This is because increased fee collection will eventually increase the platform value and relatively impact the cryptocurrency.

Top altcoin rival Solana dethrones BNB to become the fourth largest cryptocurrency

In other crypto news, Solana (SOL) has overtaken Binance Coin (BNB) to become the fourth largest cryptocurrency by market capitalization.

In the process, SOL reclaimed the important $190 level. As you have been following on Kriptokoin.com, the overall crypto market has benefited from the recent developments and broader market support.

While the launch of the spot Ethereum ETF did not significantly impact prices, the recent Bitcoin conference seems to have bolstered investor confidence.

Solana’s price action points to a strong upward movement indicating bullish momentum. The price rose from around $183 to $193, signaling a strong rebound and buying interest.

The price found initial support at $182, the lower boundary of the day’s price action, before starting a bullish trend. Another minor support level was observed at $186 where the price experienced a brief consolidation before resuming its uptrend.

Currently, the price is facing resistance at $193. According to analysts, a break above this level on strong volume could lead to further upside.

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