Jupiter Lend's Earn USDC vault had 27.9 million USDC immediately available for withdrawal on Oct. 31, recovering from near zero a day earlier but still short of what would be needed for all depositors to exit at once.
A Jupiter API reading retrieved at 3:22 p.m. ET showed 441 million USDC in total deposit claims, including accrued interest. The immediately withdrawable amount represented 6.3% of those claims, according to The Defiant's calculation.
That compares with just 3.35 USDC immediately withdrawable against 418.5 million USDC in claims in the Oct. 30 snapshot previously reported by The Defiant, retrieved at 7:14 a.m. ET.
Jupiter Earn said at 6:16 p.m. ET on Oct. 30 that “the liquidity crunch on Jupiter Lend has now ended.” It added: “USDC withdrawals are available again, as liquidity has been replenished, bringing the spike in utilization back down.”
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Available Cash Still Limits Exits
Earn is Jupiter Lend's lending product: deposits become available to borrowers through its Borrow and Multiply products. Jupiter's documentation warns that during extreme volatility or mass withdrawals, funds tied up in active loans can delay exits. Dynamic withdrawal limits also apply.
In the Oct. 31 reading, the API listed 219.6 million USDC as withdrawable before hitting the withdrawal allowance, well above the 27.9 million immediately withdrawable. Jupiter's statistics documentation defines the withdrawable amount as the lesser of the applicable allowance and available balance. Together, those figures indicate available liquidity was the tighter immediate constraint.
The 6.3% figure measures pool-wide withdrawal capacity against deposit claims, not the share of supplied USDC that is borrowed. It also does not mean each depositor is limited to withdrawing 6.3% of their balance.
For users whose requested withdrawal exceeds the amount available, Jupiter's withdrawal guide says the amount adjusts every second. Depositors may need to withdraw in smaller amounts or wait for more liquidity to return.