Morpho Networkの‌価格

Tokenized real-world assets totaled $34.5 billion on Aug. 31, up more than 140% over the year, according to After Issuance: Reading the Onchain RWA Market, a report onchain data provider Dune published on Wednesday. The report measures how much of that value is traded, lent against or held in liquidity pools, and compares those figures with the traditional markets the tokens reference. Across cash equivalents, credit, commodities and equities, the answer depends on who can move the asset. Cash equivalents are the largest class at $17.8 billion and barely trade. Tokenized stocks are the smallest at $2.8 billion and account for nearly all onchain spot activity. Only 6.1% of tokenized RWA supply, or $2.11 billion, sat in lending protocols at the cutoff, and three-quarters of that was credit. "That record shows tokenization is working where assets can move freely, and stalling where they can't," Arnaud Simeray, vice president of institutions at Dune, said in a statement. "Onchain equities have passed a million holders, while most tokenized money funds have never traded onchain." The report is built on the RWA dataset Dune launched in August, which tracks tokenized products alongside synthetic exposure on Hyperliquid perpetuals and Kalshi and Polymarket event contracts. It lands two weeks after the Securities and Exchange Commission granted a five-year exemption for onchain trading of tokenized US-listed stock, which The Defiant tracked through its drafting. Treasury Funds Sit Still Cash equivalents are 52% of tokenized RWA supply and grew 133% over the year. Twelve products hold $11.6 billion and returned between 3.22% and 3.59% on a 90-day trailing basis, a 37-basis-point spread. Every one came in below the 3.71% 13-week bill available when the window opened on June 3, and Dune says fees account for most of the gap. Circle's 10% performance fee on USYC takes a 3.58% gross yield to 3.22% net. The Defiant reported on the shortfall on Monday. Of 26 cash-equivalent products that marked their net asset value at least weekly through August, three traded onchain. The other 23 held $14.2 billion, or 86% of the measurable class. Cash equivalents accounted for $68 million of lending deposits, 0.4% of their supply. Holder counts say little about distribution. BlackRock's BUIDL holds $2.82 billion across 93 addresses and USYC $2.76 billion across 28. One address holds 98% of USYC, 96% of thBILL, 95% of JTRSY and 78% of WTGXX. Midas's mTBILL shows 5,102 holders, and its top 10 addresses hold 99.1% of supply. Dune notes that an address is an account, and one custodian can stand in for many investors. The products sit at the short end of the curve. T-bill and money-market products account for more than 95% of tokenized Treasury exposure, while the 30-year bond paid 5.25% on Aug. 31. Dune concludes the segment "offers little insight into broader macro views on rates." Tokenized credit reached $7.8 billion, up 111%, and realized yields ranged from 3.32% to 13.84%. Private-credit lines are 75% of the class, and private credit alone spans roughly 4% to 8%. At the top, Re Protocol's reinsurance-linked paper yielded 13.84%, Plume Arc's Brazilian receivables vault 12.27% and a Midas feeder into a credit fund 11.42%. Credit is the class DeFi lends against. Credit accounted for $1.61 billion of lending deposits, 76% of the total and 21% of the class, by protocols' own records. Measured from token holder labels, the share is 19.1%. Every other class is at 2% or less. Morpho holds roughly $1 billion of all RWA deposits, and Morpho, Kamino and Aave excluding Horizon hold 83%. Four products open without allowlists, Maple's syrupUSDC and syrupUSDT, Hastra's PRIME and Huma's PST, hold $2.68 billion and generate most of the class's secondary activity. Roughly $3 billion in products requiring KYC or issuer approval recorded little to no holder-to-holder transfers over 90 days. About 32% of tokenized credit, or $2.45 billion, involves crypto counterparties or collateral, most of it Maple's $2.19 billion. Dune says much of that resembles repo more than lending to the real economy. Private credit peaked at $5.85 billion in March and fell to $4.67 billion, mostly after Maple's pools halved on more than $800 million of redemptions over 72 hours following the KelpDAO bridge exploit in April. Securitized products rose from 9.5% to 21.9% of the class as Janus Henderson's Anemoy AAA CLO fund reached $909 million and Securitize's STAC $355.8 million. Resolv has capacity for up to $100 million of Anemoy as collateral on Aave Horizon, a strategy it launched in February. $GRVT

$GRVT Washington is writing crypto rules with or without Congress. That is the view of Faustine Fleuret, global head of public affairs at DeFi lending protocol Morpho, after the CLARITY Act fell one vote short of advancing in the Senate. Fleuret told Coinpedia the 49-50 outcome has been widely misread. “The Senate did not vote against regulating crypto, it failed to open the debate,” she said. Fifty senators declined to invoke cloture on the motion to proceed, she explained, mainly because lawmakers had not agreed on ethics rules for elected officials. Regulators Are Already Filling the Gap For builders targeting US users, Fleuret called the setback “real but partial.” She pointed to several recent federal actions: Commissioner Hester Peirce’s July 2026 statement on crypto vaults and onchain lending strategies. The SEC’s Regulation Crypto Assets and an innovation exemption for trading tokenized NMS stocks. A CFTC staff no-action position covering providers of passive software. Fleuret argued that once firms build on an agency framework, it tends to stay. “It cannot simply be erased with a stroke of a pen in 2029,” Fleuret said, although a future Congress could in theory take a different route. She was clear that only a statute can settle jurisdiction and give builders long-term certainty. Peirce’s Statement Is a Warning as Much as a Welcome Fleuret reads the Peirce statement “less as goodwill than as a reminder.” Depending on their structure, some vaults may fall under existing securities classifications. Peirce asked builders to work out a compliant path instead of assuming they sit outside the regulatory perimeter. Fleuret flagged two limits. A statement is not a Commission rule, and the SEC cannot go beyond the jurisdiction Congress gave it. Peirce did acknowledge that vaults vary, that some fall outside current rules, and that regulations hampering innovation should be amended. Why Vaults Need Their Own Treatment Traditional finance bundles lending infrastructure with the judgment that decides where capital goes. Vaults split the two, which Fleuret says makes them “a genuine new primitive” that existing rules struggle to map. Morpho is not seeking a new rulebook, she said, but recognition of what makes non-custodial vaults different. The company is making that case directly to regulators. The $175 Million Question Asked whether Morpho’s $175 million raise came because of regulatory clarity or despite its absence, Fleuret pointed to the product. According to Fleuret, investors backed infrastructure holding more than $16 billion in deposits and already used by Coinbase, Robinhood and Société Générale. She said the funding came as the SEC, CFTC and Treasury are engaging with the sector rather than litigating against it. Europe Is Losing the Stablecoin Race Roughly 99% of stablecoin value is dollar-denominated, and the GENIUS Act of July 2025 gave that lead a federal legal footing. MiCA has covered stablecoin issuers since June 2024, yet Fleuret said a lack of political vision around onchain settlement and payments has held back euro stablecoin issuers. For the MiCA review, she called for two changes: No additional burdens on euro stablecoin issuers. Clearer compliance guidance so euro stablecoins can continue circulating on DeFi rails.

$GRVT $MORPHO Morphousdt long INSTRUCTIONS TO READ AND TO FOLLOW: Entry point: yellow Stop loss: red Take profit: green or blue Leverage x 5-10-20 for crypto Leverage x 20-50-100 for commodities, stocks, indices, and forex Margin 1-5% max: This limits your maximum loss to 5% and guarantees that you retain 95% of your portfolio in the event of a stop-loss. ALWAYS PRACTICE RISK AND MONEY MANAGEMENT: Invest a maximum of 5% on any trade or across all your trades. Invest only what you can afford to lose, as no one is in control of the market. I repeat: this limits your maximum loss to 5% and guarantees—or rather, allows you to retain—95% of your portfolio in the event of a stop-loss. I’m sending out several signals so you can pick the ones that look convincing to you—not all of them. Taking fewer positions certainly means lower gains, but it also means fewer losses. If you follow the instructions, we’ll either win together or crash and burn together. But rest assured, we win a lot more than we lose. LEARNING  REMAINS THE BEST SOLUTION Learning from professionals remains the best solution: it enables you to understand signals, question them, and form your own opinion, as well as plan ahead should the signal provider be absent or inactive. In short, learning to trade grants you freedom and autonomy, making you responsible for both your gains and your losses. Our analyses are primarily based on: breakouts: two trend lines (ascending and descending) and a line indicating a horizontal breakout. chart patterns: shoulders and head, triangle parttern,  elliott impulse, etc etc.

$MORPHO Morphousdt long INSTRUCTIONS TO READ AND TO FOLLOW: Entry point: yellow Stop loss: red Take profit: green or blue Leverage x 5-10-20 for crypto Leverage x 20-50-100 for commodities, stocks, indices, and forex Margin 1-5% max: This limits your maximum loss to 5% and guarantees that you retain 95% of your portfolio in the event of a stop-loss. ALWAYS PRACTICE RISK AND MONEY MANAGEMENT: Invest a maximum of 5% on any trade or across all your trades. Invest only what you can afford to lose, as no one is in control of the market. I repeat: this limits your maximum loss to 5% and guarantees—or rather, allows you to retain—95% of your portfolio in the event of a stop-loss. I’m sending out several signals so you can pick the ones that look convincing to you—not all of them. Taking fewer positions certainly means lower gains, but it also means fewer losses. If you follow the instructions, we’ll either win together or crash and burn together. But rest assured, we win a lot more than we lose. LEARNING  REMAINS THE BEST SOLUTION Learning from professionals remains the best solution: it enables you to understand signals, question them, and form your own opinion, as well as plan ahead should the signal provider be absent or inactive. In short, learning to trade grants you freedom and autonomy, making you responsible for both your gains and your losses. Our analyses are primarily based on: breakouts: two trend lines (ascending and descending) and a line indicating a horizontal breakout. chart patterns: shoulders and head, triangle parttern,  elliott impulse, etc etc.