Jupiter Staked SOL holds 5.1 million SOL as its dollar value slips

Jupiter Staked SOL, the liquid staking token run by Jupiter Exchange ($JUP), held 5.10 million Solana ($SOL) at 17:15 UTC on Saturday, Nov. 7, according to DefiLlama. That is 1.7% less than a week earlier. In dollars, the pool fell 7.0% to $456.3 million, mostly because the $SOL price dropped over the same week.

What happened

DefiLlama counted 5,187,539 SOL in the pool on Oct. 30. By Nov. 4 the count had slipped to 5,057,718 SOL, the lowest daily reading of the week. It then climbed back to 5,100,127 SOL by 17:15 UTC on Nov. 7.

That rebound added about 42,400 SOL, or 0.8%, in three days. Over the full week, holders took out about 87,400 SOL on net. In a pool of this size, that is a small move.

Jupiter’s own token data shows the same picture. It listed 4,185,925 JupSOL tokens in circulation at 19:44 UTC, held by 33,650 wallets.

Why it moved

Most of the dollar drop comes from the price of $SOL, not from people leaving. CoinGecko put $SOL at $89.52 at 19:40 UTC, down 6.5% in seven days. The pool’s dollar value fell 7.0% over the same stretch, while its SOL count fell only 1.7%.

Each JupSOL is worth more than one SOL, because staking rewards build up inside the token over time. Jupiter’s price data valued one JupSOL at $108.95 and one SOL at $89.47 at 19:44 UTC. That puts one JupSOL at about 1.218 SOL.

Multiply the 4,185,925 JupSOL in circulation by that rate and you get about 5.10 million SOL. That matches DefiLlama’s count within 0.1%, so the two independent readings agree on the size of the pool.

Who’s buying and selling

The data shows net flows, not who moved. The pool lost SOL from Oct. 30 to Nov. 4, then gained SOL from Nov. 4 onward. No source names a single large holder behind either move, so the cause of the outflow and the rebound is not confirmed.

For holders, the numbers show how a liquid staking token works. It keeps earning staking rewards while it can still be traded or used across Solana DeFi, for example as collateral for lending or in liquidity pools. Its dollar value, though, still rises and falls with $SOL.

That is why a week like this one can look worse in dollars than it really was in SOL. A holder who kept the same JupSOL all week still had the same tokens, each worth about 1.218 SOL today, but fewer dollars.

What to watch next

• The SOL count. Three days of gains after the Nov. 4 low are a small start, not a trend.
• The $SOL price. With the pool’s SOL count close to flat, it drives most of the dollar value.
• The exchange rate. One JupSOL is worth about 1.218 SOL today; tracking it shows how fast staking rewards add up.
• The holder count. Jupiter’s data lists 33,650 wallets today; a steady rise would point to new users, not just larger deposits.

Bottom line: Jupiter Staked SOL lost a little SOL this week and more in dollars, and the gap is mostly the $SOL price.

Price data: CoinGecko ($SOL); Jupiter Price API (JupSOL/SOL rate).

Sources

• DefiLlama: Jupiter Staked SOL (pool size in SOL and USD, daily history; read 19:45 UTC Nov. 7)
• Jupiter Tokens API: JupSOL (supply and holder count; 19:44 UTC)
• Jupiter Price API v3: JupSOL and SOL (prices; 19:44 UTC)
• CoinGecko: Solana ($SOL price and 7-day change; 19:40 UTC)

Not financial advice.