DeFi Token Morpho Surges 15 Percent – Coinbase Integration Drives Demand
The DeFi token Morpho is recording significant price gains after Coinbase expanded its lending offering via the Morpho protocol on Base.
The price of DeFi token Morpho (MORPHO) has risen 15 percent within a week, making it one of the strongest gainers in the crypto market. The key price driver is U.S. exchange Coinbase, which has significantly expanded its onchain lending offering via the Morpho lending protocol on the Base blockchain.
Eligible U.S. customers can now deposit not only Bitcoin and Ether but also XRP, Dogecoin, Cardano, and Litecoin as collateral to borrow up to $100,000 in USDC. More than $1.9 billion in loans have already been issued through the product [1].
Morpho is a decentralized lending protocol that combines peer-to-peer mechanics with traditional DeFi pools. With a Total Value Locked of $5.7 billion and a market capitalization of just under $897 million, the token is positioned in the midcap segment.
MORPHO is currently trading at $1.631. Technically, the price shows a bullish pattern, with the Relative Strength Index at 79 points indicating an overbought market situation. A sustained breakout above $1.659 could open up further upside potential, while a decline below $1.554 would cloud the chart picture [1].
Sources
- [1]btc-echo.de
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