MORPHO (Morpho) rose 3.67% in the last 24 hours.

Gate News Bot news, on October 11, according to CoinMarketCap, as of the time of writing, MORPHO (Morpho) is currently priced at 1.70 USD, with a rise of 3.67% in the last 24 hours, reaching a high of 2.01 USD and a low of 0.64 USD, with a 24-hour volume of 134 million USD. The current market capitalization is approximately 576 million USD, an increase of 20.4 million USD compared to yesterday.

Morpho is a decentralized lending network dedicated to providing embedded yield products, cryptocurrency-backed loans, and custody services for enterprises. Its open-source infrastructure supports the rapid scaling of various lending use cases, offering users optimal conditions through an open and transparent financial infrastructure.

MORPHO Recent Important News:

1️⃣ Morpho Prime platform officially launched Morpho has officially launched its new product Morpho Prime. This new platform aims to provide institutional users with more efficient and secure cryptocurrency lending services. The launch of Morpho Prime marks a significant breakthrough for Morpho in institutional-level DeFi services, expected to attract more large institutions to participate, thereby increasing the liquidity and usage of the Morpho ecosystem.

2️⃣ Bitcoin mortgage lending business is rising rapidly Morpho provides users with Bitcoin collateral loan services through its platform, and the scale of this business has exceeded $1 billion. This milestone reflects the strong demand for Morpho's lending services in the market, while also highlighting the importance of Bitcoin as collateral in the DeFi space. The rapid growth of the business scale may be one of the important factors driving the rise in MORPHO token prices.

3️⃣ Cooperate with Crypto.com to expand stablecoin yield products Morpho has partnered with Crypto.com to provide stablecoin yield products on the Cronos chain. This strategic collaboration not only expands Morpho's user base but also increases its influence in the cross-chain DeFi ecosystem. By offering stablecoin yield opportunities to more users, Morpho is expected to attract more funds into its ecosystem.

From a technical perspective, the price of the MORPHO token has fluctuated significantly, with a notable gap between the highest and lowest prices in the 24-hour period, indicating that market sentiment remains cautious. However, the rise in volume and the increase in market capitalization reflect investors' positive attitude towards the future of the Morpho project.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.