Morpho Price continued its strong meeting this week and reached its highest level since February in the middle of the robust demand for his credit solutions.
Summary
- Morpho-token has risen by 245% from the year to date.
- The total deposits in his platform have risen to $ 10 billion.
- Technical analysis points to more profit this year.
Morpho (Morpho) Token jumped to a highlight of $ 2,8567, an increase of more than 245% compared to the lowest level in March. Market capitalization has risen to $ 867 million, while the volume of 24 hours increased by 24%.
Morpho Price is realized because of the constant demand for its solutions. Data on its website shows that the total deposits in his platform have exceeded the milestone of $ 10 billion this week. The derivative loans have risen to more than $ 3.6 billion.
According to Defi LamaThe total value locked in Morpho rose to a record high of $ 7 billion, an increase of $ 2.5 billion in April this year.
After the integration on Coinbase, the greatest crypto exchange in the US accelerated the most growth of Morpho. The integration gave access to millions of users, a trend that can continue after the launch of the Basic app.
Morpho offers a platform where users can deposit their money and earn a return. It differs from other platforms because users can select their preferred pools to deposit their money. Users can also use their crypto assets as collateral for loans.
Morpho is one of the different players who disrupt the crypto credit industry, who has collected more than $ 100 billion in deposits. The others are popular names such as Aave and Maple Finance.
Morpho Price Technical Analysis
The daily graph shows that the Morpho -token price has returned in recent weeks. The jump from a low of $ 0.8186 in April to almost $ 3 today.
Morpho has crossed the important resistance level to $ 2,2570, where it formed a double top-graphic pattern with a hall line of $ 1,5700, the lowest point on 2 August.
Morpho Price has moved above the exponential advancing average of 50 days, a sign that bulls are in control. The Supertrend indicator has turned green, while oscillators are rising.
That is why the Morpho-Token price will probably continue to rise, because Bulls focuses on the year to date of $ 4.1715, which is 60% above the current level.
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.
