Key Highlights
- 5.59M MORPHO tokens left exchanges on August 13, marking the largest daily outflow since November 2024.
- MORPHO also recorded a 4.35 million-token outflow in July, marking another significant withdrawal in recent months.
- Morpho’s TVL is now about $8.02B, while the token trades at $1.95, according to CoinMarketCap and DeFiLlama.
MORPHO token saw 5.59 million tokens leave centralized exchanges on August 13, 2026, marking its largest tracked daily net outflow since the token became transferable and began spot trading on November 21, 2024, according to the crypto market intelligence platform Santiment.
In an X post on Thursday, the platform said the tokens moved away from exchanges through on-chain transfers, reducing the amount held on trading platforms. The size of the move stands out because exchanges are where traders usually keep tokens they want to buy or sell quickly. When tokens are moved away, they are no longer sitting in that immediate pool.
Santiment said the exchange supply of MORPHO is “thinning fast,” meaning there are fewer tokens being held on exchanges than before.
The listing brought the token to more traders in South Korea and was followed by increased activity involving large holders, new wallets, and exchange outflows.
MORPHO sees another major exchange outflow
The latest move follows another significant withdrawal in July, when 4.35 million MORPHO tokens left exchanges.
That July movement came around the time MORPHO was listed for Korean won trading on Upbit. The listing increased the token’s availability to South Korean traders and coincided with higher activity involving large holders, new wallets, and exchange balances.
The two outflows represent separate periods of substantial movement away from centralized trading platforms. However, exchange outflow data alone does not establish why the tokens were transferred or whether they were moved for long-term holding, DeFi use, or other purposes.
Morpho gains attention from major platforms
Several developments have also put more attention on Morpho in recent months.
Robinhood selected Morpho to power its Earn product, bringing the lending protocol into a retail-facing financial product. Morpho has also been used by Coinbase and Base for lending products built on its infrastructure.
Earlier in June, the protocol raised $175 million in funding in a round led by Paradigm and Andreessen Horowitz (a16z), providing additional capital as it expands its lending infrastructure.
Morpho is a decentralized finance lending protocol that provides infrastructure for creating lending markets. Rather than relying on a single lending pool with uniform parameters, its architecture allows developers to create markets with different assets and risk configurations.
MORPHO price and TVL remain in focus
At the time of writing (as of August 13 at 8:00 PM UTC), Morpho was trading for $1.95, down 1.75% over the last 24 hours, but up 2.86% in a week, with a market cap of about $1 billion in value, according to data from CoinMarketCap.
The protocol’s total value locked crossed $10 billion in April 2026, according to data from DefiLlama as of August 13, 2026. It has since declined to about $8.02 billion. MORPHO has a maximum supply of one billion tokens. The supplied data places its circulating supply at 516 million, leaving part of the total supply locked or outside current circulation.
For Santiment, the latest exchange movement adds to the growing amount of MORPHO being moved away from trading platforms. The data shows how much supply left exchanges, but it does not show the reason behind every individual transfer.
The 5.59 million-token movement remains the largest tracked daily MORPHO exchange outflow since November 2024 and follows another multi-million-token withdrawal in July.
Also Read: XRP Falls to 2024 Low as Network Activity Rises 35% in August
