Backpack
Backpack price today and market data
BP price prediction & outlook
BP is the token of Backpack, the exchange, brokerage, and wallet company that competes with Phantom at the wallet layer and with Bybit, OKX, and Hyperliquid at the trading layer. It launched on March 23, 2026 with a quarter of its supply airdropped and no allocation to founders or investors, fell to $0.118 two months later, and at capture had rallied more than eightfold to about $0.98, three days after an all-time high, for a market cap around $244 million on 250 million circulating tokens out of 1 billion. This is not financial advice.
What actually moves the BP price
- The 75% that has not moved
- Three quarters of the supply, 750 million BP, sit in a single wallet that also holds the mint and freeze authorities, to be released on "company milestones and potential IPO" with no dates disclosed (CoinDesk, RugCheck). The fully diluted value is four times the market cap, and every release is at the company's discretion.
- Stake for equity
- Backpack says holders who stake BP for at least a year "will have the opportunity to convert their tokens into actual Backpack company equity, representing up to 20% of the company in aggregate" (Backpack). Staked BP also earns tiered trading-fee and fiat-ramp discounts, priority allocations in launches, and early product access, and unstaking resets the one-year clock (Backpack support). The equity conversion is the unusual part, and it makes the token a bet on Backpack's valuation, reported near $1 billion after a roughly $50 million raise in February 2026, and on an IPO happening at all.
- The exchange's numbers
- A trading-incentive "Pre-Season" that began in mid-September 2026 was followed within five days by a claimed $1 billion of daily volume, and Backpack Securities, its tokenized-stock line, reported $193 million of weekly volume the same week (Google News). The token ran from about $0.60 to its September 21 high in that window.
- No top-tier listing
- BP trades on Backpack's own exchange, MEXC, LBank, CoinEx, and a handful of smaller venues, with no Binance, Coinbase, Bybit, OKX, or Kraken listing found at capture (CoinGecko). A major listing would be a catalyst; its absence keeps most price discovery on Backpack itself and one Meteora pool.
- One pool sets the on-chain price
- The Meteora BP/USDC pool held about $5.2 million and carried nearly all of the $6.3 million of daily on-chain volume Phantom counted, with no liquidity lock (DexScreener).
What would it take for BP to reach $X?
With roughly 250 million tokens circulating, a price target maps directly to market cap. The multiples below are computed from the live market cap, so they never go stale.
- $1.50~$1.5B cap1.6x
- $2.00~$2B cap2.1x
- $4.00~$4B cap4.3x
Can BP reach $2?
A price of $2 on roughly 250 million circulating tokens implies a market cap near $500 million, about double the level at capture, and a fully diluted value near $2 billion, twice the company's last reported valuation. That would take Backpack's volume holding up after its incentive season ends, a major exchange listing, the 750 million locked tokens staying locked, and the stake-for-equity offer being worth more than the tokens themselves. These are conditions, not predictions, and this is not financial advice.
To evaluate any BP target: multiply it by roughly 250 million circulating tokens, then by the full 1 billion for the fully diluted figure, compare both to the live market cap on this page and to what Backpack the company is worth, and ask whether an exchange token with three quarters of its supply in one wallet supports it. If it doesn't, the prediction doesn't hold.
How to buy Backpack (BP) in Phantom
Buying BP takes a few minutes once your Phantom wallet holds SOL. Outside Backpack's own exchange and a few mid-tier venues, the token trades in Meteora and Raydium pools on Solana, which is where Phantom's swap will route.
- Install Phantom and secure your walletDownload Phantom as a mobile app (iOS or Android) or browser extension and create or import a wallet. Write your Secret Recovery Phrase on paper and store it offline; anyone who obtains it controls every asset in the wallet, and Phantom will never ask for it.
- Fund your wallet with SOL or USDCSOL pays the network fee, which runs fractions of a cent, and the deepest BP pool is quoted in USDC, so Phantom's router will convert SOL first or take USDC directly. Buy either inside Phantom with a card or bank transfer, or send them from an exchange, and keep a small SOL balance in reserve.
- Paste the mint address, not the nameIn the Swap tab, paste the full mint address as the receive token and confirm the ticker reads BP on Solana. Several unrelated tokens named "Backpack" or "BP" appeared on Solana and Base in September 2026, two of them showing fabricated liquidity in the hundreds of millions, so a name search is not safe.
- Compare with the exchange price, then confirmThe Meteora BP/USDC pool held about $5.2 million at capture, so orders in the thousands clear with little impact. Check the quote against the price on this page, review the estimated output, confirm, and BP lands in your wallet once Solana confirms.
Always verify the mint address
The legitimate mint address is the one shown on this page. Cross-reference it against the CoinGecko listing or Solscan rather than search results or social posts. The official channels are backpack.exchange, learn.backpack.exchange, and @Backpack on X; Backpack will never DM you about an airdrop or ask for your Secret Recovery Phrase. If the address does not match exactly, stop.
What buying BP actually costs
Solana network fees are a fraction of a cent, so on a swap the real costs are the pool's fee and price impact. Holding BP in Phantom earns nothing by itself; the stake-for-equity program requires staking on Backpack's own platform for at least a year, and no fee-discount or governance utility for BP had been documented at capture. Backpack markets 0% spot fees on its exchange, where BP also trades directly.
Phantom (self-custody) | Centralized exchange | |
|---|---|---|
Who holds your keys | You | The exchange |
Who can freeze funds | The issuer holds a live freeze authority on the mint | The exchange can |
Buy path for BP | Direct in-wallet swap | Listed on Backpack, MEXC, LBank, and CoinEx; no top-tier listing found |
What is Backpack?
Backpack (BP) is, as this page's About text says, "The Official Backpack Token," issued by the company behind the Backpack exchange and Backpack wallet. Backpack was founded by former FTX and Alameda Research employees, faced scrutiny after FTX's 2022 collapse, and later acquired FTX's European operations, relaunching them as Backpack EU (CoinDesk); it now holds MiCA and MiFID II licenses in the European Union, a Dubai VARA license, and a FinCEN registration in the United States, and it runs spot and perpetual trading, lending, a self-custody wallet across more than ten networks, and Backpack Securities, which issues tokenized US stocks on Solana (Backpack). The company reported a roughly $50 million raise at a valuation near $1 billion in February 2026, and Backpack is a direct competitor to Phantom at the wallet layer. The token launched on March 23, 2026 with 25% of the 1 billion supply distributed to Backpack Points participants and Mad Lads NFT holders and, per the company, "no tokens allocated to founders, team members, or investors at launch"; the other 75% unlocks on undisclosed milestones and a possible IPO (Backpack). Its stated utility is the right, after staking for at least a year, to convert tokens into Backpack equity, up to 20% of the company in aggregate.
Six months in, the token's arc has been a round trip and then some: about $0.19 the day after launch, an all-time low of $0.118 on May 25, 2026, then an eightfold rally to an all-time high of $0.984 on September 21 and about $0.98 at capture, up 22% on the day, for a market cap near $244 million and a fully diluted value near $978 million (CoinGecko). The September run coincided with a Backpack trading "Pre-Season" that the company said drove $1 billion of daily volume within five days and with Backpack Securities reporting $193 million of weekly tokenized-stock volume (Google News). On-chain, the mint is a legacy SPL token with live mint and freeze authorities held by the same wallet that holds the 750 million unreleased tokens; a second wallet holds about 21%, plausibly the staking contract; the top ten addresses hold 97.5% of supply; and the Meteora BP/USDC pool, which carries almost all on-chain volume, has no liquidity lock (RugCheck). About 14,800 wallets hold BP. Among exchange tokens it is the smallest by far, at about a sixth of Bitget's BGB and a quarter of a percent of BNB, with the widest gap between market cap and fully diluted value in that group.
Is BP safe?
For a young exchange token from a licensed, well-funded company with a centralized mint, safety comes down to three checks and one mindset.
- Authorities are live
- The mint and freeze authorities have not been renounced, and RugCheck scores them as its top two dangers. For a company token that expects to release supply over years this is expected, but it means Backpack can mint more BP or freeze any holder's tokens at will.
- Supply and concentration
- 75% of supply is in one wallet with no published schedule, and the top ten addresses hold 97.5%. The airdrop's "no insider allocation" is real, and so is the fact that the company controls three quarters of what will eventually circulate.
- Distribution
- No Binance, Coinbase, Bybit, OKX, or Kraken listing was found, so liquidity depends on Backpack's own venue and one unlocked Meteora pool, and copycat "Backpack" tokens with fake liquidity were being deployed on Solana and Base in the week of capture.
The mindset: BP is a bet on Backpack the company, priced after a fast rally and structured so the company decides when supply arrives. Size it like an early-stage equity, watch unlock announcements and volume after the incentive season, verify the mint every time, and never share your Secret Recovery Phrase.
Backpack FAQ
The market capitalization of BP is $937M as of Oct 30, 2026.
Market capitalization is calculated by multiplying the current price of BP by its circulating supply. It reflects the overall value of the token in the market and helps gauge its relative size compared to other cryptocurrencies.
The daily trading volume of BP is $4.2M as of Oct 30, 2026.
Trading volume can fluctuate based on market conditions, investor activity, and overall demand for BP.
The total supply of BP is 1B.
The circulating supply, which represents the number of BP currently available in the market, is 1B as of Oct 30, 2026.
BP can be bought and traded on a variety of cryptocurrency platforms, including Phantom!
BP is the token of Backpack, the crypto exchange, brokerage, and self-custody wallet company founded by former FTX and Alameda employees and licensed in the EU and Dubai. It launched on Solana on March 23, 2026 with 25% of its 1 billion supply airdropped to Backpack Points users and Mad Lads NFT holders and no allocation to founders or investors; the remaining 75% is held by the company for release on milestones and a possible IPO. Its stated utility is that stakers earn tiered fee discounts and priority access, and that holders who stake for at least a year can convert tokens into Backpack equity, up to 20% of the company. The mint address is the one shown on this page.
The token is issued by a licensed company with a working exchange, and its launch allocation was unusually clean. The risks are structural: the mint and freeze authorities are live and held by the wallet that holds 75% of supply, the top ten addresses hold 97.5%, no major exchange lists it, the main Meteora pool has no liquidity lock, and the price rose eightfold between May and September 2026. Copycat tokens named Backpack with fabricated liquidity appeared on Solana and Base in September, so buy only the mint address on this page. This is not financial advice.
Download Phantom as a mobile app or browser extension and fund it with SOL or USDC. Open the Swap tab, paste the mint address shown on this page as the token to receive instead of searching by name, and confirm the ticker reads BP. The Meteora BP/USDC pool held about $5.2 million at capture, so ordinary orders clear easily; check the quote against the price on this page, review the estimated output, and confirm. You can also buy BP on Backpack's own exchange and withdraw it to your Phantom address.
Yes. Every Solana transaction, including the swap into BP, is paid in SOL, so Phantom needs a small SOL balance to cover network fees, which are a fraction of a cent. The deepest BP pool is quoted in USDC, so you can swap from USDC directly or let Phantom route from SOL. You can buy SOL or USDC inside Phantom or withdraw them from an exchange.
Backpack was founded by former FTX and Alameda Research employees, led by CEO Armani Ferrante, and grew out of the Mad Lads NFT collection and the Backpack wallet before launching its exchange. The company acquired FTX's European operations as Backpack EU, holds MiCA, MiFID II, and Dubai VARA licenses, reported a valuation near $1 billion in February 2026, and issued BP in March 2026 with no tokens allocated to its founders or investors at launch.
A price of $2 on roughly 250 million circulating tokens implies a market cap near $500 million, about double the level at capture in September 2026, and a fully diluted value near $2 billion on the full 1 billion supply, twice the company's last reported valuation. It would take Backpack's volume holding after its incentive season, a top-tier exchange listing, and the locked 75% staying locked. This is not a prediction or financial advice.
BNB, OKB, and BGB pay their holders through fee discounts, burns, and launchpad access; BP offers stakers fee discounts and priority access as well, but its defining utility is the right to convert staked tokens into equity in Backpack itself, which makes it closer to a pre-IPO instrument than a loyalty token. It is also the smallest exchange token by market cap among that group and the one with the largest gap between market cap and fully diluted value, because three quarters of its supply has not been released.
Pricing information is provided for informational purposes only and is not financial advice. Market data is provided by third parties and Phantom makes no representation as to the accuracy of the information.
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Pricing information is provided for informational purposes only and is not financial advice. Market data is provided by third parties and Phantom makes no representation as to the accuracy of the information.