Kamino Finance token steadies after a 19% weekly drop

Kamino Finance token steadies after a 19% weekly drop as deposits dip

The Kamino Finance token steadies at $0.0404 as of 7:39 p.m. ET on Oct. 3, down 19% over seven days but flat on the day.

The quick take

Price: $KMNO at $0.0404, +0.2% ↑ in 24 hours, -19% ↓ in seven days.
Trigger: The cause of the weekly drop is not confirmed; Kamino Lend deposits fell 5.4% over the same seven days.
Watch: Whether Kamino Lend keeps its lead over Jupiter Lend, now about $85 million.

What happened

The Kamino Finance token steadies after a hard week. Kamino Finance ($KMNO) traded at $0.0404 at 7:39 p.m. ET on Oct. 3, up 0.2% in 24 hours, according to CoinGecko. Over seven days, it is still down 19%.

The day itself was quiet. CoinGecko shows a 24-hour range of $0.0398 to $0.0410, a band of about 3%. The token’s market value stands near $229 million, with $3.0 million traded across markets in a day.

The weekly loss follows a strong month. $KMNO is still up 63% over 30 days, but it sits 84% below its record high of $0.2478 from Dec. 15, 2024.

Why it moved

Kamino has not posted an announcement that explains the slide, so the cause is not confirmed. The clearest signal comes from its lending market. Kamino Lend held $1.39 billion in deposits on DefiLlama, down 5.4% in a week, though up 0.4% in the past day.

Borrowers still use most of that money: DefiLlama shows $1.02 billion borrowed. Meanwhile, Jupiter Lend from Jupiter Exchange ($JUP) grew 10% in a week to $1.30 billion. The gap between the two lending markets on Solana ($SOL) is now about $85 million.

Who’s buying and selling

Trading on the main pool stayed balanced. The KMNO/USDC pool on Orca DEX had 7,222 buys and 6,810 sells in 24 hours, per DexScreener, with $2.0 million in liquidity. GeckoTerminal counted 7,176 buys and 6,788 sells in the same pool.

Buyers held a slight edge, but not enough to lift the price. The wider market was calm as well: Bitcoin ($BTC) rose 0.3% to $84,804, per LiveCoinWatch.

What to watch next

The first test is Kamino Lend’s deposit line. A climb back toward last week’s level would show lenders returning, while a further drop would narrow the gap with Jupiter Lend.

The second is the daily range. A move outside $0.0398 to $0.0410 would show whether the pause holds.

Bottom line: The Kamino Finance token has stopped falling for now, but the 19% weekly loss and thinner lending deposits still mark the week.

Price data: CoinGecko.