Backpack Exchange token slides 8.9% as exchange assets dip on Sunday
Backpack Exchange’s BP token fell 8.9% in 24 hours to $1.12 as of 8:40 a.m. ET on Sunday, Oct. 11, per CoinGecko.
The quick take
- Price: $BP $1.12, −8.9% ↓ over 24 hours (CoinGecko, 12:40 UTC).
- Trigger: No new Backpack announcement since Oct. 7; the cause is not confirmed.
- Watch: Whether $BP holds above its 24-hour low of $1.096.
The Backpack Exchange token slides 8.9% over 24 hours to $1.12, according to CoinGecko data at 8:40 a.m. ET on Sunday, Oct. 11. Backpack Exchange ($BP) traded between $1.096 and $1.23 over the past day.
What happened
Jupiter’s price feed put $BP at $1.118, down 9.0%, within 0.15% of CoinGecko. CoinPaprika showed a similar 9.2% drop.
The token is down 12.6% over seven days but still up 112% over 30 days. It now sits 32% below its record of $1.65, set on Oct. 1, per CoinGecko.
Why it moved
Backpack’s blog shows no new post since Oct. 7, when it added tokenized Ferrari shares. With no Backpack-specific news in the past day, the cause of the drop is not confirmed.
The move stands apart from larger coins. Solana ($SOL) was down 0.2% on CoinGecko. Bitcoin ($BTC) and Ether ($ETH) were each up 0.4%, per LiveCoinWatch at 12:41 UTC.
Assets held on the exchange also edged lower. DefiLlama’s Backpack tracker showed $578.2 million at 11:37 UTC, down from $586.3 million at the start of the day and $591.2 million at the start of Oct. 10. That figure moves with token prices as well as with deposits and withdrawals.
Who’s buying and selling
$BP had a market value of $279.5 million and $6.4 million in 24-hour trading volume, per CoinGecko. Its largest on-chain pool, BP/USDC on Meteora, holds $6.5 million in liquidity.
That pool logged 1,991 buys and 796 sells over 24 hours, per DexScreener; GeckoTerminal counted 2,005 buys and 794 sells. Buy trades outnumbered sells by more than two to one, yet the price fell. Trade counts do not show size, so a few large sales can outweigh many small buys.
What to watch next
- Whether $BP holds above its 24-hour low of $1.096.
- Any Backpack update that explains the move.
- Exchange assets on DefiLlama, which show whether users move funds in or out.
Bottom line: $BP fell 8.9% in a day without a confirmed trigger, while Bitcoin and Ether edged higher.
Sources
- CoinGecko — Backpack (BP) price, 24-hour range, 30-day change and record high (12:40–12:45 UTC, Oct. 11)
- Jupiter — BP price cross-check (12:41 UTC)
- CoinPaprika — BP price and 24-hour change (12:44 UTC)
- DefiLlama — assets held on Backpack (11:37 UTC)
- DexScreener — BP/USDC pool on Meteora (12:41 UTC)
- GeckoTerminal — BP/USDC pool on Meteora (12:41 UTC)
- Backpack blog — latest posts (checked 12:41 UTC)
- LiveCoinWatch — Bitcoin and Ether prices (12:41 UTC)
Price data: CoinGecko. Not financial advice.
