Jupiter Flips Kamino To Become Solana's Top Lending Protocol

Solana's lending scene just got a new leader. Jupiter has officially flipped Kamino Finance to become the chain's biggest lending market, with $1.21 billion in active loans compared to Kamino's $981 million. That's roughly 14% growth for Jupiter in just thirty days, while Kamino actually shrank a bit over the same stretch.

JUP price reacts

Unsurprisingly, the token followed the news. JUP jumped more than 15% in a single day, and it's up nearly 50% over the past month. Jupiter's treasury has also been quietly buying back and burning tokens, which hasn't hurt either.

Here's the catch: JUP's price is moving almost independently of Solana right now, which is a little unusual for a token this tied to the ecosystem. If that gap keeps growing, it could mean the rally runs out of steam fast. For now though, Jupiter is sitting comfortably at the top of Solana's lending leaderboard.