Backpack Exchange token rises 5.1% to its 24-hour high

Backpack Exchange token rises 5.1% to its 24-hour high on Monday

Backpack Exchange’s token traded at $1.16 at 7:40 p.m. ET on Monday, Oct. 19, up 5.1% in 24 hours and at the top of its daily range.

The Backpack Exchange token rises 5.1% in 24 hours to $1.16 as of 7:40 p.m. ET on Monday, Oct. 19, according to CoinGecko. That puts Backpack Exchange ($BP) at the top of its daily range.

The quick take

Price: $BP $1.16, +5.1% ↑ in 24 hours and +3.6% ↑ over seven days (CoinGecko, 23:40 UTC).
Trigger: No announcement names a cause, while assets held on the exchange rose to $584.0 million (DefiLlama).
Watch: Whether $BP holds the top of its range, still about 30% below its Oct. 1 record of $1.65.

What happened

CoinGecko shows $BP trading between $1.07 and $1.16 over the past 24 hours, so the latest price sits at the high end. Jupiter’s price feed agrees within 0.12%, showing a 5.4% daily gain.

The token is up 3.6% over seven days and 86% over 30 days. Even so, it remains about 30% below its record high of $1.65, set on Oct. 1. Its market value stands near $288.9 million, with $5.5 million traded across all markets in 24 hours.

Why it moved

No announcement from Backpack names a cause for the move, so the driver is not confirmed. On Monday, the exchange listed a tokenized version of Airbnb ($ABNB) on Solana, redeemable 1:1 for real shares through Backpack Securities, per its blog.

Assets held on the exchange also grew. DefiLlama tracks $584.0 million on Backpack as of 22:22 UTC, up from $552.6 million at the start of Sunday, Oct. 18.

The wider market was calm. Solana ($SOL) rose 1.1% to $105.17 on CoinGecko, while Bitcoin ($BTC) was flat near $82,009, per LiveCoinWatch.

Who’s buying and selling

On-chain trading was close to even. In $BP’s largest pool, a Meteora pair with USDC holding $6.44 million, DexScreener counted 1,182 buys and 1,208 sells over 24 hours.

GeckoTerminal showed a similar split, with 1,176 buys and 1,207 sells. That pool handled about $2.4 million of trading, so most of the day’s $5.5 million in volume happened on other markets.

What to watch next

Watch whether $BP can hold near $1.16 as U.S. trading winds down for the day. The next data points are asset levels on the exchange and any new tokenized listings from Backpack Securities.

Bottom line: Backpack Exchange’s token climbed 5.1% to the top of its daily range on Monday, with no confirmed trigger and pool trades split almost evenly.

Price data: CoinGecko (cross-checked with Jupiter).