Key Takeaways
- In just one day, the price of morpho rose by 85% to $1.7.
- When Binance decided to offer the coin for futures trading, the coin reacted.
- On November 21, Morpho started trading on centralized exchanges.
The price of Morpho (MORPHO) increased from $0.8 to $1.7 per day following the addition of the token for futures trading by Binance and other exchanges.
Binance announced the addition of MORPHO for 75x leverage futures trading on November 27.
Additionally, the meme coin Just a Chill Guy (CHILLGUY) was listed for leveraged trading on the cryptocurrency exchange that day.
MORPHO Celebrates One Week of Exchange Trading
On November 21, MORPHO’s airdrop came to an end. The coin was introduced for spot trading by a number of exchanges, including Bybit, OKX, Gate.io, KuCoin, MEXC, Bitget, and others.
MORPHO was listed by Binance only for futures trading.
However, MORPHO’s price started to decline when it was listed on the exchanges. It surged to $3.11 in the first few hours, setting an all-time high (ATH). The coin then increased marginally above $1.
Interestingly, CHILLGUY’s price did not respond in the same manner as MORPHO’s.
Though it has been among the top performers in the cryptocurrency market for the last two weeks, the meme coin has increased by almost 7% in the last day.
The Top 15 DeFi Protocols, Including Morpho
Morpho is a loan services protocol based on Solana (SOL). Its total value locked (TVL) in decentralized finance (DeFi) has increased since being public on exchanges.
Over the previous week, Morpho’s TVL has increased by 20.95%, surpassing that of another protocol on Solana, the decentralized exchange (DEX) Jupiter, according to DeFiLama.
With a TVL of $2.39 billion, Morpho closed the top 15 DeFi protocols.
