Morpho records its largest single-day exchange outflow since spot trading began
Santiment tracked a net 5.59 million $MORPHO leaving exchanges, the largest daily outflow since the token became transferable in November 2024. Fewer coins on exchanges leaves less supply available for immediate sale.
A similar move followed Upbit's KRW listing on July 27, when 4.35 million tokens left exchanges.
@Morpho has powered Robinhood's Earn product since July 1 and raised $175 million co-led by Paradigm and a16z crypto.