Kamino Finance token slips 5.9% as its weekly run cools

Kamino Finance token slips 5.9% as its strong weekly run cools

Kamino Finance ($KMNO) traded at $0.039 at 8:40 a.m. ET on Sunday, down 5.9% in 24 hours but still up 10.5% over seven days.

The Kamino Finance token slips 5.9% in a day, giving back part of a strong run. Kamino Finance ($KMNO) traded at $0.039 on CoinGecko at 8:40 a.m. ET on Sunday, Oct. 18.

The quick take

Price: $0.039, -5.9% ↓ in 24 hours, +10.5% ↑ over 7 days (CoinGecko, 8:40 a.m. ET).
Trigger: Most of the selling came on Saturday; the cause is not confirmed.
Watch: The 24-hour low of $0.0391 and Kamino Lend deposits near $1.32 billion.

What happened

$KMNO fell 5.9% over the 24 hours to 8:40 a.m. ET, according to CoinGecko. In that window it traded between $0.0391 and $0.0422. Jupiter’s price feed showed nearly the same level, with a gap of less than 0.1%.

Most of the drop came on Saturday. On Binance’s KMNO/USDT pair, hourly prices slid from about $0.0422 on Saturday morning ET to about $0.0393 by the afternoon. The token then held between $0.0395 and $0.0402 through the night.

The pullback follows a strong stretch. $KMNO is still up 10.5% over seven days and 42% over 30 days, per CoinGecko. It remains 84% below its record high of $0.248, set on Dec. 15, 2024.

Why it moved

The cause of the drop is not confirmed.

The move came on a soft day for Solana DeFi tokens. Orca DEX ($ORCA) fell 5.7% and Jupiter Exchange ($JUP) lost 3.2%. Solana ($SOL) was nearly flat at $103.95, down 0.2%, per CoinGecko.

Kamino’s lending business looks steady. Kamino Lend held $1.32 billion in total value locked, per DefiLlama, down just 0.4% over seven days.

Who’s buying and selling

Trading on Solana stayed busy. The top $KMNO pool is a KMNO/USDC pool on Orca with $1.98 million in liquidity. DexScreener counted 23,211 buys and 21,347 sells there in 24 hours, and GeckoTerminal showed almost the same split.

Trade counts do not show trade size, so more buys does not mean more money flowed in. Across all markets, $KMNO traded $11.0 million in 24 hours against a market value of $227 million, per CoinGecko.