KMNO Rallies on Kamino TVL Increase, but Long-Term Upside Uncertain

Introduction

KMNO's price rose 15% as Kamino Finance's Total Value Locked (TVL) increased by $21 million, indicating growing confidence in the protocol.

Background

Kamino Finance started the week on a positive note, with a 15% gain. However, the rally reached a critical point, with liquidation clusters on either side of the price leaving room for further volatility.

Kamino TVL

Kamino's TVL rose by $21 million over the past day, offering an encouraging backdrop to KMNO's rally. According to DeFiLlama, TVL stood at $1.383 billion at the time of writing.

Funding Rates

The OI-Weighted Funding Rate moved from -0.0044% to a slightly positive 0.0008%, indicating that longs were paying shorts, suggesting a modest bullish positioning bias.

Spot Market

KMNO's Netflows turned negative following positive readings of roughly $93,000 in previous days. On the 14th of October, Spot Netflows reached approximately -$47,000, indicating that outflows exceeded inflows across tracked exchanges.

Perpetual Inflows

Perpetual Inflows of Kamino Finance [KMNO] reached roughly $7.36 million, with positive Netflows of $233,490, according to CoinGlass.

Conclusion

Overall, improving momentum and slightly positive Funding Rates left room for further upside. Liquidation clusters below the price remained a risk if buying momentum weakened.