Jito Beats Ethereum and Uniswap in 2024 DeFi Fees—What’s Driving Its Success?

Jito Labs sets a new fee generation record, surpassing $20 million in two days.
Jito outperforms Ethereum and Uniswap in 2024, becoming a leading DeFi player.
Jito’s token price rises 7%, but trading volume drops, signaling potential volatility.

Jito Labs has set a benchmark in decentralized finance (DeFi), achieving over $20 million in daily fees on January 20 and 21, 2025. Focused on maximal extractable value (MEV) services for the Solana blockchain, Jito’s infrastructure has outperformed traditional DeFi leaders.

A key milestone was reached on January 20, when the protocol generated a record $26.49 million in fees, driven by the high-profile MELANIA transaction.

According to DeFiLlama, from January 20 to 21, Solana MEV infrastructure Jito captured more than $20 million in fees for two consecutive days for the first time in history. On January 20, the day of the MELANIA transaction, Jito captured fees of $26.49 million, setting a new…

— Wu Blockchain (@WuBlockchain) January 22, 2025

Jito’s Fee Growth Outpaces Rivals

Jito Labs has shown remarkable growth in recent months. By October 2024, the protocol recorded $78.92 million in monthly fees, doubling its May 2024 record of $39.45 million. On October 24, Jito earned $6.14 million from tips, cementing its position as a major force in Solana’s MEV ecosystem.

This performance has pushed Jito to the forefront of DeFi, overtaking established platforms like Lido Finance and Uniswap.

Surpassing Ethereum and Uniswap in Fee Rankings

According to data from TokenTerminal, Jito Labs earned $63 million in fees in 2024, surpassing Ethereum’s $55.1 million and Uniswap’s $42.1 million. This achievement places Jito as the third most profitable crypto project, behind Tether ($137 million) and Tron ($100 million).

Jito’s rise signals a shift in DeFi dynamics, showcasing Solana’s potential in competing with Ethereum-based projects.

JTO Token Mirrors Jito’s Market Success

Jito’s native token, JTO, reflects the protocol’s achievements. As of this writing, JTO’s price rose 7%, reaching $3.02. Its market capitalization also grew by 7.14%, totaling $861.28 million.

However, the token’s volume-to-market cap ratio dropped to 7.31%, indicating reduced liquidity and potential volatility in the market.

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