Backpack Exchange token jumps 11% as sellers lead its top pool
Backpack Exchange ($BP) rose 11% in 24 hours to $1.08 as of 1:40 p.m. ET on Sunday, Oct. 18, near the top of its daily range.
Backpack Exchange ($BP) had a strong Sunday. The Backpack Exchange token jumps 11% over 24 hours to $1.08, according to CoinGecko data as of 1:40 p.m. ET on Oct. 18. Jupiter priced it at $1.08 at the same time.
The quick take
- Price: $1.08, +11% ↑ in 24 hours (CoinGecko, 1:40 p.m. ET).
- Trigger: no Backpack announcement explains the jump, and it came as most large coins slipped.
- Watch: whether buy trades catch up with sells in its top pool.
What happened
$BP traded between $0.968 and $1.09 over the past 24 hours, CoinGecko shows. At $1.08, it sits near the top of that range.
The token’s market value is about $270 million, with $5.7 million in trading volume over 24 hours. It is up 88% over 30 days but still 34% below its record high of $1.65, set on Oct. 1.
Why it moved
We found no Backpack announcement tied to the jump, so the cause is not confirmed. The exchange’s newest blog post, dated Oct. 17, added a tokenized ProShares volatility fund ($UVXY) on Solana. Backpack says each token can be swapped one for one for a real fund share through Backpack Securities.
The move ran against the market. Solana ($SOL) was down 1.2% on CoinGecko. LiveCoinWatch showed Bitcoin ($BTC) down 0.1% and Ether ($ETH) down 1.5% at 1:41 p.m. ET.
Who’s buying and selling
Trade counts in its top pool lean the other way. DexScreener shows 698 buys and 2,291 sells over 24 hours in the BP/USDC pool on Meteora, which holds $6.3 million in liquidity.
GeckoTerminal gives a close second reading: 712 buys against 2,270 sells. Trade counts do not show trade size, so a few large buys can outweigh many small sales.
What to watch next
DefiLlama tracks $566 million in assets held on Backpack’s exchange. Watch whether $BP holds near the top of its daily range, and whether buy trades catch up in its top pool. Trading volume, now $5.7 million a day, will show whether interest is growing.
Bottom line: $BP rose 11% on a day when most large coins slipped, with no clear trigger and more sell trades than buys in its top pool.
Sources
- CoinGecko: Backpack price, 24-hour range, record high, market cap and volume
- Jupiter: $BP price cross-check
- Backpack: tokenized ProShares Ultra VIX Short-Term Futures ETF ($UVXY) now on Solana
- DexScreener: BP/USDC pool on Meteora, buys and sells
- GeckoTerminal: BP/USDC pool on Meteora
- DefiLlama: Backpack exchange assets
- CoinGecko: Solana price
- LiveCoinWatch: Bitcoin and Ether prices
Price data: CoinGecko, cross-checked with Jupiter.
Not financial advice.
