JTO vs RAY
Jito and Raydium scored on the same 25 variables, ranked against the same 251 tokens, with every gap between them shown.
Scoring pass 18 Sept 2026. Market snapshot 7 Oct 2026.
What separates them
JTO scores 134 of 250 and ranks 42nd of 251. RAY scores 129 and ranks 46th. JTO leads by 5 points, which is inside the range where the individual variables matter more than the total. JTO takes 13 of the 25 variables, RAY takes 7, and 5 are level.
4 variables separate them by 3 points or more. JTO is clear on Regulatory Safety (6 against 3). RAY is clear on P/S Multiple (6 against 2), Vesting Schedule (9 against 5) and Buyback and Burn (7 against 3).
RAY is valued at $670.5M against $263.0M for JTO, a 2.5x difference. The smaller of the two scores higher on fundamentals, which is the disagreement worth understanding before either position is taken.
All 25 variables, head to head
Both tokens were scored by the same framework in the same pass, so the numbers are directly comparable. What a comparison adds over two separate pages is the gap: a 6 against a 6 is a non-event, a 9 against a 3 is the reason to hold one and not the other.
Cash flow
| Protocol Revenue | 6 | 6 | level | |
| Revenue Trend | 6 | 4 | JTO +2 | |
| P/S Multiple | 2 | 6 | RAY +4 | |
| Real Staking Yield | 6 | 4 | JTO +2 |
Supply
| Supply Inflation | 5 | 7 | RAY +2 | |
| Vesting Schedule | 5 | 9 | RAY +4 | |
| Circulating / FDV Ratio | 6 | 6 | level | |
| Buyback and Burn | 3 | 7 | RAY +4 |
Ownership
| Smart Money Flows | 6 | 4 | JTO +2 | |
| Insider Selling | 4 | 6 | RAY +2 | |
| Holder Concentration | 4 | 5 | RAY +1 |
Traction
| TVL Trend | 7 | 5 | JTO +2 | |
| Active Users | 6 | 7 | RAY +1 | |
| Developer Activity | 6 | 5 | JTO +1 | |
| Network Growth | 6 | 6 | level |
Position
| Market Share | 6 | 5 | JTO +1 | |
| Competitive Moat | 6 | 4 | JTO +2 | |
| Institutional Adoption | 5 | 3 | JTO +2 | |
| Exchange Depth | 5 | 5 | level | |
| Social Mindshare | 5 | 5 | level |
Risk
| Regulatory Safety | 6 | 3 | JTO +3 | |
| Catalyst Calendar | 6 | 4 | JTO +2 | |
| BTC Alpha Potential | 5 | 3 | JTO +2 | |
| Team Execution | 6 | 5 | JTO +1 | |
| Treasury Runway | 6 | 5 | JTO +1 |
Bars read outward from the centre: JTO to the left, RAY to the right. The side that leads a variable is filled. Each score is 1 to 10 against the same definition applied to all 251 rated tokens.
Market and supply
| JTO | RAY | |
|---|---|---|
| Price | $0.4961 | $2.48 |
| Market cap | $263.0M | $670.5M |
| Circulating | 53% | 48.6% |
| Dilution to full supply | 1.89x | 2.06x |
| Off all-time high | -91.7% | -85.2% |
| To recover the high | 12x | 6.8x |
| Total value locked | $2.80B | $1.00B |
| Network | Solana | Solana |
Price, market cap and all-time high from the CoinGecko snapshot fetched 7 Oct 2026. Supply shares are derived from circulating and eventual supply counts, which do not move with price. The 25 scores come from the research pass dated 18 Sept 2026.
Catalyst and risk on each side
JTO · CAUTIOUS HOLD
JTO fee switch enabling staking rewards from MEV tips; Solana network continued growth
No direct revenue accrual to JTO token yet; 91% below ATH; concentrated Solana network risk; a16z large token holder
RAY · CAUTIOUS HOLD
Solana memecoin cycle revival could 3-5x volume overnight
PumpSwap directly forked revenue model, anonymous team, Q1 2026 revenue -76% from Q3 2025
Common questions
- Is JTO or RAY the better investment?
- On this framework JTO scores higher: 134 against 129 of 250, and it is rated CAUTIOUS HOLD against CAUTIOUS HOLD. That is a ranking of fundamentals as recorded at the last scoring pass, not a price forecast, and JTO still wins 13 of the 25 individual variables against RAY.
- What is the biggest difference between JTO and RAY?
- P/S Multiple. JTO scores 2 of 10 there and RAY scores 6, a gap of 4 points on a single variable.
- Which is bigger, JTO or RAY?
- JTO is valued at $263.0M and RAY at $670.5M on the latest market snapshot.
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Research and analysis, not investment advice. A higher score is one framework applied consistently to 251 tokens, not a prediction that one asset will outperform the other.