3 hours ago
11
Kamino Finance (KMNO) is priced at $0.063, up about 3% in the past 24 hours and sporting a 24-hour trading volume of $19 million, which is 44% up.
With the DeFi protocol on the Solana blockchain gaining over the past week at +21%, what are likely catalysts for further price gains?
Could KMNO however face downward pressure in the short term?
Two bullish catalysts for Kamino price
Kamino is emerging as a significant player in the Solana ecosystem and overall crypto space.
After introducing Kamino Meta-Swap to deliver the best price execution for token swaps on Solana earlier this month, the protocol has made another major announcement — the release of its v2 upgrade is imminent.
Lending V2 is billed as Kamino’s biggest upcoming update, with the platform eyeing a total reshaping of lending on Solana.
This release, with the protocol’s growth over the past year could be key to another leg up for KMNO amid demand.
“KaminoFinance is in total growth mode. The lending platform keeps breaking ATHs in supply and borrows since early 2024.
The Multiply feature’s max leverage increased from 5x to 7.5x, which is attracting more liquidity ahead,” Syndica wrote.
KMNO may also gain a massive upside flip from the overall crypto market push.
The token is up more than 20% in the past week and has been trending up.
The trendline offers a key support base that means a break above $0.065 will bring $0.10 and $0.15 into bulls’ view.
An analyst on X suggests KMNO price may see a significant surge by end of the year.
“Fundamental catalysts include TVL continuing to grow, which will be further accelerated once RWAs enter the scene,” said Rendoshi Takamoto.
Kamino price: bears eye $14 million token unlock
However, apart from the bullish v2 release and overall SOL tokens gains, Kamino price may face short term bearish pressure due to an upcoming KMNO unlock.
Per Tokenomist, Kamino Finance is scheduled for a significant “cliff” token unlock on April 30, 2025.
The unlock will release 229.17 million KMNO tokens. At current prices, that’s valued at $14.30 million, accounting for 13% of its circulating supply.
Such a large percentage of the circulating supply being unlocked is something to watch.
Massive selling at once might negatively impact KMNO’s price in the short term.
However, the overall bullish outlook means a rebound from key support levels could propel KMNO to its recently hit all-time high.
The post Kamino price prediction: three key catalysts that could drive KMNO higher appeared first on Invezz
English (US) ·