What to know:
- MORPHO recorded a 5.59 million-token exchange exit, its largest tracked daily outflow.
- The August withdrawal surpassed July’s separate exchange outflow of 4.35 million tokens.
- Robinhood, Coinbase, and Base use the Morpho protocol to support their lending products.
MORPHO recorded its largest tracked daily exchange outflow on August 13, 2026. About 5.59 million tokens left centralized exchanges, according to Santiment. The record covers the period since the token became transferable and began spot trading on November 21, 2024.
Santiment disclosed the movement in an X post on Thursday, August 13. It said the tokens moved through on-chain transfers away from centralized venues. Those platforms usually hold assets that traders want available there for immediate buying or selling.
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MORPHO Exchange Outflows Rise in July and August
The analytics firm said the exchange supply was “thinning fast.” Fewer tokens were therefore sitting in the pool available for immediate trading. The figures measure recorded changes in token location, but they do not identify the specific reason behind any individual holder’s transfer.
The withdrawal in August surpassed yet another outflow that was witnessed in July. At the time, 4.35 million tokens had been taken off of centralized exchanges.
These two events were both associated with huge withdrawals of tokens off centralized trading platforms within a month period.
The July events took place during the listing of MORPHO on Upbit for Korean won trading. This move made the token accessible to a wider group of traders in South Korea.
It was also accompanied by increased activity on large holders, the creation of new wallets, and recorded changes in exchange balances.
Why Financial Platforms Use Morpho for Lending
This timeline proves nothing about the Upbit listing being the cause of either of the withdrawals. The exchange logs cannot determine whether the MORPHO tokens were stored in long-term storage arrangements.
The MORPHO protocol has been implemented in several financial products for retail customers. It was chosen by Robinhood as the technology to use in their Earn product. The same protocol has been used by Coinbase and Base to create their own lending products.
It serves as decentralized infrastructure for creating specific lending markets. Lending markets can be created in the protocol with various assets and specific risk levels. This protocol differs from one lending pool, which uses the same parameters for all the assets and lending markets.
MORPHO TVL Falls From April’s $10B Milestone
At the time of writing, MORPHO trades at $1.95, according to CoinMarketCap data. Its price has fallen 1.47% in the past 24 hours. The token remained 2.41% higher over the seven-day period.
The protocol’s total value locked crossed $10 billion in April 2026. DefiLlama data placed the figure at about $8.02 billion as of August 13. The August reading remained below the April milestone.
The total supply of MORPHO is capped at one billion tokens. About 516 million tokens were in circulation on August 13. The rest remained locked or otherwise outside the circulating supply.
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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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