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The price of Morpho (MORPHO) rose from $0.8 to $1.7 a day after Binance and other exchanges added the coin for futures trading.
On November 27, Binance announced adding MORPHO for futures trading with 75x leverage.
Also, on that day, the crypto exchange listed the meme coin Just a Chill Guy (CHILLGUY) for leveraged trading.
#Binance Futures will launch the USD?-Margined $MORPHO and $CHILLGUY Perpetual Contracts at
??? Nov 27 2024, 14:30 and 14:45 (UTC) respectively
Read more ?? https://t.co/pP9e0q9his pic.twitter.com/VxQQKfUXvS
— Binance Futures (@BinanceFutures) November 27, 2024
MORPHO Marks One Week of Trading on Exchanges
The airdrop of MORPHO ended on November 21. The exchanges, such as Bybit, OKX, Gate.io, KuCoin, MEXC, Bitget and others, added the coin for spot trading.
?? #NewListing
$MORPHO @MorphoLabs Spot trading is LIVE on #OKX!Trade now: https://t.co/6EBTsjLkG7 pic.twitter.com/0RFeMSyQPe
— OKX (@okx) November 21, 2024
Binance listed MORPHO for futures trading only.
However, after listing on the exchanges, the price of MORPHO began to fall. In the first hours, it rose sharply to $3.11, which became an all-time high (ATH). After that, the coin rose slightly above $1.
It is interesting to note that the price of CHILLGUY did not react the same way as MORPHO.
Over the past 24 hours, the meme coin has grown by about 7%, although it has been one of the leaders in growth in the crypto market for the past two weeks.
Morpho Enters Top 15 DeFi Protocols
Morpho is a protocol built on Solana (SOL) for lending services. After listing on exchanges, its total value locked (TVL) in decentralized finance (DeFi) has grown.
According to DeFiLama, the TVL of Morpho has grown by 20.95% over the past week, overtaking another protocol on Solana, the decentralized exchange (DEX) Jupiter.
Thus, Morpho closed the top 15 DeFi protocols with a TVL of $2.39 billion.
