Kamino Finance [KMNO] gained 15% over the week as the altcoin picked up momentum. The rally, however, faces pressure from liquidation clusters positioned both above and below the current price level, suggesting potential volatility in either direction.
Kamino's Total Value Locked increased by $21 million over the past day, reaching $1.383 billion according to DeFiLlama. While this rise could indicate greater confidence in the protocol, TVL increases can result from both new deposits and appreciation of existing tokens, making it difficult to confirm fresh capital inflows from the metric alone.
On-chain activity showed mixed signals. The OI-Weighted Funding Rate moved from -0.0044% to 0.0008%, indicating that long positions are paying shorts slightly more than the reverse—a modest bullish signal. In the spot market, KMNO experienced net outflows of approximately $47,000 on October 14th, following withdrawals of $193,600 on October 12th. Such withdrawals could be consistent with accumulation behavior, though exchange transfers alone cannot confirm investor intent.
Perpetual venues saw stronger capital movement, with inflows reaching roughly $7.36 million and net flows of $233,490. These figures suggest more capital entered tracked perpetual markets than left, though the funds could support long or short positions alike.
The combination of improved momentum and slightly positive funding rates leaves room for further gains. Liquidation clusters below the price remain a downside risk should buying momentum diminish.
