Kamino Finance token falls 6.3% as Kamino Lend deposits ease

Kamino Finance’s $KMNO fell 6.3% in the 24 hours to 8:40 a.m. ET on Oct. 9, stretching its weekly loss to 15.1%.

The quick take

Price: $0.035, -6.3% ↓ in 24 hours and -15.1% ↓ in seven days, as of 8:40 a.m. ET (CoinGecko).
Trigger: No cause is confirmed; Kamino Lend deposits sit 5.4% below their Oct. 6 level, per DefiLlama.
Watch: Whether today’s small rebound in Kamino Lend deposits holds into the weekend.

What happened

The Kamino Finance token falls 6.3% in 24 hours to $0.035 as of 8:40 a.m. ET on Oct. 9, CoinGecko data show. Kamino Finance ($KMNO) is now down 15.1% over seven days. Jupiter’s price for the token matched CoinGecko’s within 0.04%.

The token traded as high as $0.038 over the past day, according to CoinGecko. Its market value stands at $199.1 million, with $7.4 million in 24-hour trading volume.

Why it moved

Kamino has not posted news that explains the drop, so the cause is not confirmed. The wider market was mixed: Solana ($SOL) slipped 2.0% to $110.50 on CoinGecko, while Bitcoin ($BTC) rose 0.9%, per LiveCoinWatch. $KMNO fell about three times as hard as $SOL.

Activity on Kamino’s lending market has also cooled this week. Kamino Lend held $1.33 billion in deposits at 10:44 UTC, down 5.4% from $1.40 billion on Oct. 6, DefiLlama data show. Borrowing dipped to $957 million from $985 million on Oct. 8.

Who’s buying and selling

On the token’s largest pool, $KMNO/USDC on Orca, buys still outnumbered sells. DexScreener counted 15,641 buys and 14,896 sells over 24 hours, while GeckoTerminal showed 15,582 and 14,884. Trade counts do not show trade size, so a few large sales can outweigh many small buys.

The pool holds $1.85 million in liquidity, according to DexScreener.

What to watch next

Kamino Lend deposits turned up slightly today, from $1.31 billion at midnight UTC to $1.33 billion at 10:44 UTC. Whether that rebound holds will show how lenders view the platform after this week’s pullback.

Over 30 days, $KMNO is still up 31%. It remains about 86% below its record high of $0.248, set on Dec. 15, 2024, according to CoinGecko.

Bottom line: $KMNO’s slide outpaced Solana’s while Kamino Lend deposits eased, and no single cause has been confirmed.