Kamino Finance token sheds 5.6% in a slow Saturday slide

The Kamino Finance token fell 5.6% in 24 hours to $0.03994 as of 3:40 p.m. ET Saturday, in step with a wider Solana pullback.

The Kamino Finance token sheds 5.6% over 24 hours, trading at $0.03994 as of 3:40 p.m. ET on Saturday. Kamino Finance ($KMNO) powers one of the largest lending markets on Solana ($SOL).

The quick take

Price: $0.03994, -5.6% ↓ in 24 hours (CoinGecko, 19:40 UTC).
Trigger: No single cause is confirmed; $SOL and other Solana DeFi tokens also fell.
Watch: The 24-hour low of $0.03896 and buyer activity in the top Orca pool.

What happened

$KMNO started the day firm. Hourly closes on Binance’s KMNO/USDT pair peaked near $0.0436 around 1 a.m. ET (05:00 UTC). From there the token eased lower for most of the day.

By noon ET (16:00 UTC), hourly closes had fallen to about $0.0396. CoinGecko puts the 24-hour range between $0.03896 and $0.04422. The token has a market value of about $233 million, with $18.5 million traded in 24 hours.

Jupiter’s price feed showed $0.03990 at the same time, within 0.1% of CoinGecko.

Why it moved

No Kamino-specific cause for the drop is confirmed. The move looks like part of a wider Saturday pullback across Solana tokens. $SOL fell 2.5% to $101.07 over the same 24 hours, per CoinGecko.

Other Solana DeFi tokens slid too. Jito ($JTO) lost 5.6% and Jupiter Exchange ($JUP) dropped 3.9%. Bitcoin ($BTC) was down a milder 1.0%, according to LiveCoinWatch.

Deposits on Kamino Lend stood at $1.26 billion, down 3.4% over seven days, DefiLlama data shows.

Who’s buying and selling

Traders in the main pool did not rush for the exit. The Orca KMNO/USDC pool, with about $2.0 million in liquidity, logged 31,718 buys against 28,665 sells in 24 hours, per DexScreener.

GeckoTerminal showed a similar split, with 31,587 buys and 28,550 sells. More trades were buys, yet the price still fell, so the sells were likely larger on average.

What to watch next

The first level is the 24-hour low of $0.03896. Even after today’s slide, $KMNO is still up 8.1% over 30 days, per CoinGecko. It also remains about 84% below its record high of $0.2478, set on Dec. 15, 2024.

Watch whether $SOL steadies and whether buyers keep their lead in the Orca pool. Kamino Lend deposits are another useful signal of demand for the protocol.

Bottom line: $KMNO’s 5.6% drop tracks a broad Solana pullback, with no confirmed Kamino news behind it.