On-chain data platform Santiment monitoring shows that Morpho’s single-day net outflow from exchanges was 5.59 million tokens, the biggest daily record for the token since it became transferable in November 2024. As tokens are moved out of exchanges, the amount available to sell on the market is reduced—this kind of signal is often viewed as holders being more willing to hold, or moving tokens into wallets for staking or participating in governance. Morpho is a decentralized lending protocol; the more tokens withdrawn from exchanges, the smaller the short-term liquidity pressure. However, one day of data doesn’t tell the full story—you need to see whether the outflows continue. Can you trust it? The on-chain data is there; how to interpret it depends on the individual. #Morpho #链上数据 $MORPHO