MORPHO (Morpho) 24-hour pump 7.32%

Gate News Bot news, on October 20, according to CoinMarketCap data, as of the time of writing, MORPHO (Morpho) is currently priced at $2.08, with a rise of 7.32% in the last 24 hours, reaching a maximum of $2.09 and a minimum drop to $1.62, with a 24-hour volume of $685 million. The current market capitalization is approximately $736 million, an increase of $50.2 million compared to yesterday.

Morpho is an open financial infrastructure focused on decentralized lending. It provides businesses with solutions such as embedded yield products, cryptocurrency collateral loans, and lending product strategies, aiming to build the most trusted lending network. Morpho operates in an open-source and transparent manner, ensuring security through multiple audits and formal verification.

Recent important news about MORPHO:

1️⃣ Morpho Lending Network Officially Integrates with Sei Network Morpho Labs announced that its lending network has successfully launched on the Sei Network. As a platform managing over $12 billion in deposits, Morpho has previously provided enterprise-level lending services such as crypto-backed loans to several well-known institutions. This integration of its universal lending network into the Sei trusted technology system is expected to further expand Morpho's ecosystem and user base.

2️⃣ Ethereum Foundation makes a large investment in Morpho yield vault On October 15, the Ethereum Foundation deposited 2,400 ETH and approximately $6 million in stablecoins into Morpho's treasury. This significant move not only demonstrates the Ethereum Foundation's confidence in the Morpho project but also provides substantial liquidity support to Morpho, aiding in the further development of its lending operations.

3️⃣ Hyperliquid launched on Morpho App Hyperliquid has successfully launched on the Morpho App, marking the continued expansion of the Morpho ecosystem. The addition of Hyperliquid may bring more liquidity options and investment opportunities for Morpho users, helping to enhance the overall appeal of the platform.

These positive ecosystem developments and important collaborations may be the main factors driving the recent price pump of MORPHO. With more institutions and projects joining, the network effects of Morpho are expected to further strengthen, potentially continuing to impact its market performance.

This message is not investment advice, and investors should be aware of market volatility risks.