Kamino Finance token drops 5.8% in a midday Wednesday slide

Kamino Finance’s KMNO token traded at $0.037 at 7:40 p.m. ET on Wednesday, down 5.8% in 24 hours after a midday wave of selling.

The quick take

Price: $0.037, -5.8% ↓ in 24 hours, as of 7:40 p.m. ET (CoinGecko).
Trigger: Selling built through the New York morning and early afternoon; no project news explains it, so the cause is not confirmed.
Watch: Whether $KMNO stays above its 24-hour low of $0.036.

What happened

The Kamino Finance token drops 5.8% in 24 hours to $0.037 as of 7:40 p.m. ET on Oct. 14, CoinGecko data show. Kamino Finance ($KMNO) traded between $0.036 and $0.040 over the day. Jupiter’s price for the token matched CoinGecko’s within 0.2%.

The token’s market value stands at $214.8 million, with $13.1 million in 24-hour trading volume, per CoinGecko. Even after the drop, it is up 1.3% over seven days.

Why it moved

Most of the decline came in one stretch. On Binance’s KMNO/USDT pair, hourly prices slid from about $0.039 to below $0.037 during the New York morning and early afternoon. The pair then edged back up through the evening.

Kamino has not posted news that explains the drop, so the cause is not confirmed. The wider market also slipped: Solana ($SOL) fell 2.4% to $104.25 on CoinGecko, while Bitcoin ($BTC) lost 2.0% and Ether ($ETH) lost 3.2%, per LiveCoinWatch.

Who’s buying and selling

On the token’s largest pool, $KMNO/USDC on Orca, buy and sell counts stayed close. DexScreener counted 25,420 buys and 24,639 sells over 24 hours, while GeckoTerminal showed 25,405 and 24,614.

Counts say nothing about trade size, so a handful of big sales can outweigh many small buys. The pool holds $1.93 million in liquidity, according to DexScreener.

What to watch next

Kamino Lend, the platform’s lending market, held $1.32 billion in deposits at 7:41 p.m. ET, DefiLlama data show. That is 2.8% less than a week earlier. Steady deposits would show lenders are not following the token lower.

Over 30 days, $KMNO is still up 50%. It sits about 85% below its record high of $0.248, set on Dec. 15, 2024, according to CoinGecko.

Bottom line: $KMNO gave back part of its monthly run in a midday sell-off, with no confirmed cause and Kamino Lend still holding $1.32 billion.