Jupiter Perps LP SOL holdings slip 2.5% since Monday

The quick take

Price: $JLP traded at $4.46 (-0.4% ↓ in 24 hours) as of 8:40 a.m. ET, Oct. 25.
Trigger: The pool’s $SOL count fell 2.5% since Monday, while its $USDC grew 3.8% to $102.1 million.
Watch: Whether the $SOL share keeps easing as traders adjust their positions.

Jupiter Perps LP SOL holdings, the largest asset in the Jupiter Perps LP ($JLP) pool, fell 2.5% in the week since Monday. The pool held about 4.02 million Solana ($SOL) tokens at 10:36 UTC on Oct. 25, down from 4.12 million at 00:00 UTC on Oct. 19, according to DefiLlama.

What happened

The pool’s total value slipped 3.2% over the same stretch, from $738.4 million to $714.6 million, DefiLlama shows. This pool is the money that backs trades on the perpetuals market of Jupiter Exchange ($JUP).

$SOL is still the biggest piece. It was worth $404.3 million at the latest reading, about 57% of the pool. Wrapped bitcoin ($WBTC) made up $120.7 million and $USDC $102.1 million.

Wrapped ether ($WETH) stood at $69.9 million. Jupiter’s own JupUSD stablecoin held at $17.6 million, and $USDT was close to zero.

Asset	Oct. 19, 00:00 UTC	Oct. 25, 10:36 UTC	Change
$SOL (tokens)	4,118,242	4,015,058	-2.5% ↓
$USDC	$98.4 million	$102.1 million	+3.8% ↑
$WETH (tokens)	29,333	30,046	+2.4% ↑
$WBTC (tokens)	1,507.7	1,506.8	-0.1% ↓
JupUSD	$17.7 million	$17.6 million	-0.8% ↓
Pool total	$738.4 million	$714.6 million	-3.2% ↓

Why it moved

Part of the drop in dollar terms is price. $SOL traded at $100.82 as of 8:40 a.m. ET, down 0.6% in 24 hours, per CoinGecko.

The value of the pool’s $SOL fell 5.6% from $428.2 million on Monday. That is more than the 2.5% drop in tokens, so a lower $SOL price did much of the work.

The token count fell too, by 103,184 $SOL. DefiLlama’s count can include collateral that traders post, so the exact cause is not confirmed.

$USDC moved the other way. The pool added about 3.7 million $USDC in the same window. A larger dollar share leaves the pool a bit less exposed to swings in $SOL.

Who’s buying and selling

The top $JLP pool on DexScreener, a $JLP/$SOL pair on Orca, counted 4,842 buys and 4,583 sells in 24 hours. It held about $2.2 million in liquidity.

Jupiter’s price feed put $JLP at $4.456, within 0.1% of CoinGecko’s $4.46. CoinPaprika showed $4.458.

CoinGecko lists a $JLP market value of about $843.8 million, with $2.0 million traded in 24 hours. That is above DefiLlama’s $714.6 million pool total; the two figures come from different methods and do not match.

What to watch next

Watch the $SOL share of the pool, now near 57%. A smaller $SOL count means $JLP holders carry slightly less $SOL price risk, and slightly less upside if it rises.

Watch the $USDC line, too. A steady rise would show the pool leaning toward dollars while traders pull back.

For context, $BTC traded at $80,327 (-0.5% ↓) and $ETH at $2,330 (-1.6% ↓) over 24 hours, per LiveCoinWatch.

Bottom line: The Jupiter Perps pool holds less $SOL and more dollars than on Monday, while $JLP itself barely moved.