Withdrawals from Jupiter Lend, the Solana lending market run by Jupiter, are being held up by what the team called a liquidity crunch tied to broader market conditions. Borrowers have drawn down nearly all available stablecoin liquidity, leaving depositors waiting in line.

Jupiter Lend's public API shows the USDC vault holding about $417M in supplied assets, with only around $15 available for immediate withdrawal on Friday afternoon. Earlier in the day the figure was reportedly as low as $3.35.

The team says the protocol is functioning as expected, all funds are safe, and withdrawals will resume as borrowers repay loans or new deposits arrive. Other vaults are less strained: JupUSD shows about $323K withdrawable out of $45M, and USDT about $1.2M out of $16.7M.

No timeline for fully restoring withdrawals has been given. Until utilization drops, USDC depositors depend on repayments, which high borrow rates are designed to encourage.