Honestly, that -8% drop on $JTO feels kinda sketchy.
What's up with the $SOL ecosystem lately? Jupiter routing has been grabbing 65%-95% of the Solana DEX, and the depth on $ORCA is still the same. As a result, $JTO , being the MEV leader for $SOL and the core of the staking protocol, just got smashed down to 0.65 by a single bearish candlestick.
Took a quick peek at the background: This week, Solana's spot ETF saw a net inflow of $7.1 million, so institutions are quietly accumulating. The on-chain JitoSOL TVL hasn’t seen much fluctuation, indicating that retail traders are running while the whales are buying in.
I've seen this 'fundamentals are fine, but price crashes first' scenario at least ten times over the past eight years. Either a market maker got liquidated, or a VC's lock-up period expired and they dumped — but neither is an issue with the project itself.
If it doesn't break 0.6, I'm gonna scoop up a little with a small position; if it falls below, I'll cut my losses. This round for $SOL isn't over yet.
What do you think?
# $SOL ecosystem #MEV赛道 #on-chain data
What's up with the $SOL ecosystem lately? Jupiter routing has been grabbing 65%-95% of the Solana DEX, and the depth on $ORCA is still the same. As a result, $JTO , being the MEV leader for $SOL and the core of the staking protocol, just got smashed down to 0.65 by a single bearish candlestick.
Took a quick peek at the background: This week, Solana's spot ETF saw a net inflow of $7.1 million, so institutions are quietly accumulating. The on-chain JitoSOL TVL hasn’t seen much fluctuation, indicating that retail traders are running while the whales are buying in.
I've seen this 'fundamentals are fine, but price crashes first' scenario at least ten times over the past eight years. Either a market maker got liquidated, or a VC's lock-up period expired and they dumped — but neither is an issue with the project itself.
If it doesn't break 0.6, I'm gonna scoop up a little with a small position; if it falls below, I'll cut my losses. This round for $SOL isn't over yet.
What do you think?
# $SOL ecosystem #MEV赛道 #on-chain data