Coinbase, a major US cryptocurrency exchange, recently added support for Morpho (MORPHO), a decentralized finance (DeFi) lending protocol built on Ethereum and Base. This listing caused a noticeable price jump for MORPHO.
MORPHO’s Price Surge
The news sent MORPHO’s price soaring. It jumped from $2.05 on February 27th to a high of $2.42 the following day. While it’s settled down slightly, it’s still trading around $2.21, representing a roughly 8% increase over the past 24 hours.
Morpho’s Unique Approach
Launched in 2022, Morpho uses a unique “oracle-agnostic” pricing model. This means it doesn’t rely on a single source for price data, making it more resistant to manipulation and potentially more secure. The protocol focuses solely on lending, unlike some others that combine lending and trading, which can lead to increased complexity and costs. Their goal is to be the most open and efficient decentralized lending platform.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies. Investing in crypto carries significant risk, and you could lose money.
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