Jupiter Exchange lending grows 5.7% in a week as Kamino slips
Jupiter Lend held $1.24 billion at 21:42 UTC on Oct. 1, up 5.7% in seven days, while Kamino Lend slipped 2.3% to $1.39 billion.
The quick take
- Price: Jupiter ($JUP) traded at $0.3225 as of 5:39 p.m. ET, down 1.5% in 24 hours and up 8.3% in seven days.
- Trigger: Jupiter Lend deposits grew about $67 million in a week, while Kamino Lend lost about $33 million.
- Watch: The gap between Solana’s two largest lenders, now $146 million, down from about $247 million a week ago.
Jupiter Exchange lending is catching up with the leader. Jupiter Lend, the lending market of Jupiter Exchange ($JUP), held $1.24 billion in total value locked at 5:42 p.m. ET on Oct. 1, according to DefiLlama. That is 5.7% more than a week earlier.
What happened
Jupiter Lend added about $67 million in seven days, DefiLlama data shows. About $29 million of that came in the past 24 hours, a 2.4% daily gain.
Over the same week, Kamino Lend went the other way. The lending market of Kamino Finance ($KMNO) slipped 2.3%, or about $33 million, to $1.39 billion. It is still the largest lender on Solana ($SOL).
The gap between the two is now $146 million. A week ago it was about $247 million, based on DefiLlama’s seven-day changes. In other words, the distance shrank by about 41% in one week.
Where the deposits sit
Jupiter’s own Earn data gives a closer look at the lender side. At 21:42 UTC, its seven Earn vaults held about $578 million in total. Earn is one part of Jupiter Lend; DefiLlama’s figure covers the whole protocol.
The USDC vault is by far the largest, with $472.9 million. Jupiter lists a total yearly rate of 4.57% on it: 4.19% in interest plus 0.38% in rewards.
The JupUSD vault, Jupiter’s own dollar token, holds $52.4 million at 5.00% a year. The SOL vault holds about 200,488 $SOL, worth $23.6 million, at 3.99%.
Why it moved
The cause of the weekly inflow is not confirmed. Most of the money in Jupiter’s Earn vaults sits in dollar tokens, so the rates on offer matter more here than token prices.
The wider market stayed calm. Total value locked across Solana DeFi stood at $6.57 billion, per DefiLlama. Kamino Lend holds about 21% of that and Jupiter Lend about 19%.
$SOL traded at $117.61, down 0.3% in 24 hours and up 0.8% in seven days, per CoinGecko. That small move cannot explain a 5.7% rise in deposits.
Who’s buying and selling
The $JUP token did not follow its lending market higher today. It traded at $0.3225, down 1.5% in 24 hours, with a market value of $1.07 billion and $73.7 million in daily trading volume, per CoinGecko.
On the token’s largest pool, JUP/SOL on Orca, sellers made 9,464 trades in 24 hours against 8,467 buys, DexScreener data shows. Over seven days, $JUP is still up 8.3%.
Kamino’s token had a rougher day. $KMNO traded at $0.0405, down 5.9% in 24 hours, per CoinGecko.
What to watch next
- Whether Jupiter Lend keeps adding deposits while Kamino Lend holds flat. The gap is $146 million.
- The USDC rate in Jupiter’s Earn vault, now 4.57% a year.
- Total value in Solana DeFi, now $6.57 billion, for signs that money is leaving the chain as a whole.
Bottom line: Jupiter Lend is closing in on Kamino Lend, but Kamino still holds the larger share of Solana lending.
Sources
- Jupiter: Lend Earn vault data (primary, read 21:42 UTC Oct. 1)
- DefiLlama: Jupiter Lend (read 21:42 UTC)
- DefiLlama: Kamino Lend (read 21:42 UTC)
- DefiLlama: Solana chain (read 21:41 UTC)
- CoinGecko: Jupiter (JUP) (as of 21:39 UTC)
- DexScreener: JUP/SOL pool on Orca (read 21:41 UTC)
Price data: CoinGecko.
Not financial advice.
