Kamino Finance token slides 7.3%, gives back weekend gain

Kamino Finance token slides 7.3% and gives back its weekend gain

Kamino Finance ($KMNO) traded at $0.0400 as of 1:40 p.m. ET on Tuesday, down 7.3% in 24 hours and just above its daily low.

The quick take

Price: $KMNO at $0.0400, -7.3% ↓ in 24 hours (CoinGecko, 17:40 UTC).
Trigger: a steady slide since late Monday erased Sunday’s climb; the cause is not confirmed.
Watch: the 24-hour low near $0.0400 and deposits on Kamino Lend.

What happened

The Kamino Finance token slides back to where it stood before its weekend rally. Kamino Finance ($KMNO) traded at $0.0400 at 17:40 UTC (1:40 p.m. ET) on Tuesday, down 7.3% in 24 hours, according to CoinGecko. That is the largest daily drop among the ten Solana-ecosystem tokens we track.

The price checks out across feeds. Jupiter quoted $0.04005 at the same time, in line with CoinGecko. Over the past day the token ranged from $0.03996 to $0.0437, so it now trades just above its low.

Why it moved

The drop came as a slow, steady slide rather than one sharp sell-off. On Binance’s KMNO/USDT pair, the hourly close stood at $0.0435 at midnight UTC. It fell to $0.0409 by 10:00 UTC and sat at $0.0401 at 17:41 UTC.

That move wipes out Sunday’s gain. On Oct. 25, the same pair closed an hour at $0.0402 at 14:00 UTC, then climbed to $0.0435 by 18:00 UTC. We found no Kamino announcement in the past day that explains the reversal, so the cause is not confirmed.

Who’s buying and selling

On-chain trade counts leaned slightly toward buyers. In the largest $KMNO pool, the KMNO/USDC pair on Orca, DexScreener counted 22,009 buys and 20,480 sells over 24 hours. That pool held about $2.0 million in liquidity.

CoinGecko put the token’s 24-hour trading volume at $9.3 million and its market value at $235 million. The wider Solana market stayed calm: Solana ($SOL) traded at $101.0, down 0.3% in 24 hours, per CoinGecko.

What to watch next

Traders may watch whether $KMNO holds the $0.0400 area, its lowest level of the past day. Kamino Lend, the project’s lending market, held $1.26 billion in total value locked, per DefiLlama.

Deposits there show how the protocol’s users respond to the token’s swings. $KMNO also remains 84% below its record high of $0.2478, set on Dec. 15, 2024, per CoinGecko.

Bottom line: $KMNO gave back its whole weekend climb in one steady day of losses, and the reason is not yet confirmed.