This Solana's Code Points To A Rally To $253, But There's A Catch
Andreessen Horowitz's $50 million investment supports Jito's infrastructure scaling and developer tools to enhance Solana's liquid staking and expand its global ecosystem.
- On Thursday, Andreessen Horowitz's a16z crypto invested $50 million into Jito Foundation via a private token sale, marking the largest single-investor commitment, the firm announced.
- The funding follows Jito's September launch of Block Assembly Marketplace and will expand Jito Foundation's validator infrastructure and JitoSOL, which holds over $3.2 billion in market cap.
- Brian Smith said the deal included a token allotment for a16z and promotes long-term alignment tied to Solana’s growth, while Ali Yahya said Jito’s tools position it for Solana’s next wave.
- JITO prices reacted, rising about 4% to $1.17, while a proposed VanEck JitoSOL ETF could provide traditional investors regulated staking exposure.
- Amid a selloff that saw nearly $400 million in outflows, Solana is under technical pressure near $188 after failing to sustain above $200 and retesting $186 support.
19 Articles
19 Articles
Cointelegraph
Cryptocurrency News | Cryptocurrency Prices | Market CapAndreessen Horowitz’s a16z Crypto invests $50M in Solana liquid staking protocol Jito
A16z crypto, the blockchain arm of Andreessen Horowitz, has invested $50M in Jito, a Solana liquid staking protocol and key player in Solana DeFi.
a16z invests $50m in Solana liquid staking protocol Jito
Andreessen Horowitz’s crypto division has backed Jito with a $50 million investment set to bolster the Solana staking protocol’s ecosystem. Jito, a liquid staking protocol whose platform powers a maximal extractable value (MEV) infrastructure, will tap into the $50 million…
This Solana's Code Points To A Rally To $253, But There's A Catch
Solana (CRYPTO: SOL) is locked in a critical battle at the $186 support zone as nearly $400 million in outflows pressure the market, threatening to drag the token lower. The selloff comes just as Andreessen Horowitz's a16z crypto arm throws a $50 million lifeline into Solana staking giant Jito Foundation. Solana Faces $186 Test As Flows Turn Negative SOL Key Technical Levels (Source: TradingView) Solana is under pressure after failing to sustain…
a16z crypto invests $50 million in Jito to expand Solana’s DeFi infrastructure
Jito Foundation has raised $50 million from a16z crypto in a strategic token sale, marking one of the largest investments in the Solana ecosystem this year. The funding will support the Foundation’s goal of expanding Jito Network technology and advancing its community-driven mission to make Solana more efficient, scalable, and valuable for participants across the decentralized finance (DeFi) landscape. Jito operates two key pillars of Solana’s …
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