Jupiter Exchange withdrawals recover with $27.9 million in USDC free
Jupiter Lend had 27.9 million USDC ready for withdrawal at 19:42 UTC (3:42 p.m. ET) on Saturday, Oct. 31, up from near zero on Friday afternoon.
The quick take
- Price: Jupiter Exchange ($JUP) trades at $0.2587, up 3.3% in 24 hours, per CoinGecko as of 3:42 p.m. ET.
- Trigger: USDC free to withdraw from Jupiter Lend climbed from near zero on Friday to 27.9 million on Saturday.
- Watch: Whether the free share of the pool, now 6.3%, keeps growing or slips back.
What happened
Jupiter Exchange withdrawals from its USDC lending pool have room again after a squeeze on Friday. At 19:42 UTC on Saturday, Oct. 31, Jupiter’s own Earn API showed 27.9 million USDC ready to withdraw. The pool holds 441.1 million USDC for savers in total.
A day earlier the picture was very different. Bitquery data cited by CryptoSlate put the free USDC near zero at 16:18 UTC on Oct. 30, against about $416 million owed to savers.
CryptoSlate tracked the recovery overnight. It counted about 31.2 million USDC free at 02:37 UTC and about 29 million at 09:25 UTC on Saturday.
Why it moved
In a lending pool, savers can only take out cash that borrowers are not using. When nearly all of it is lent out, withdrawals wait for loan repayments or new deposits, CryptoSlate explains, citing Jupiter’s documentation. Which of the two refilled the pool is not confirmed.
The API also lists a much larger withdrawal ceiling of about 219.7 million USDC. CryptoSlate warns that this ceiling is not cash on hand. It only caps how fast money can leave, while the 27.9 million figure is what is free right now.
What to watch next
Free USDC now equals about 6.3% of the pool. That is a little below the 7.0% CryptoSlate measured early Saturday, so the cushion is still thin.
Savers in the pool earn a listed rate of about 7.1% a year, per Jupiter’s API. Across all of Jupiter Lend, DefiLlama shows $929.2 million in deposits at 17:25 UTC on Saturday, up from $907.9 million at the start of Friday.
Bottom line: Jupiter Lend savers can withdraw USDC again, but only about 6.3% of the pool is free right now.
Sources
- Jupiter Earn API, jlUSDC pool (Jupiter, primary data, read 19:42 UTC Oct. 31)
- CryptoSlate: Jupiter Lend’s withdrawal liquidity rebounds from near zero to 29 million USDC (Oct. 31, cites Bitquery)
- DefiLlama: Jupiter Lend (data point 17:25 UTC Oct. 31)
- CoinGecko: Jupiter ($JUP) (19:42 UTC Oct. 31)
Price data: CoinGecko, cross-checked with Jupiter.
Not financial advice.
