MORPHO Logs Record Exchange Outflow Since Token Trading Began

Traders moved 5.59 million Morpho (MORPHO) tokens off exchanges in a single day, the largest net outflow since the token began trading in November 2024, according to Santiment.

The withdrawal pulled roughly $10.8 million of supply out of trading venues. However, MORPHO still changes hands near $1.94, leaving the on-chain signal without a matching price move.

Record Outflow Beats July's Korean Demand Spike

The 5.59 million tokens equal about 0.85% of the 656.33 million MORPHO in circulation. The withdrawal is worth roughly $10.8 million, or 94% of the token's daily trading volume, according to CoinGecko.

The figure also tops a recent high set on July 25. Traders shifted 4.35 million MORPHO off platforms that Saturday, when Upbit opened MORPHO trading in the KRW market.

"Exchange supply is thinning fast. Fewer MORPHO tokens on exchanges means fewer coins sitting ready for quick selling, which lowers the risk of a sudden sell wall." Santiment said.

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