Morpho's USDC deposits just set an all-time record at $4.1B
USDC parked on Morpho has climbed to a fresh all-time high of $4.1 billion, according to Cointelegraph. The DeFi lending protocol now holds its biggest stack of the Circle-issued stablecoin ever — a milestone that lands squarely on stablecoin-powered credit markets.
Morpho's USDC deposits have never been bigger. The lending protocol just clocked an all-time high of $4.1 billion in USDC, per a post from Cointelegraph. That's the largest pile of the stablecoin the platform has held to date.
Morpho is a decentralized lending protocol where users supply and borrow crypto through permissionless markets. USDC is Circle's dollar-pegged stablecoin, and it's one of the most heavily used assets for on-chain lending and trading. Together they make up one of the more closely watched pairings in DeFi.
The record reading is a gauge of how much stablecoin capital is currently sitting inside a single lending venue. It also puts a spotlight on Morpho, which competes for deposits against other DeFi credit markets.
Cointelegraph flagged the number as a big one for the protocol. For now, $4.1 billion is the mark to beat.
TopicsMorpho · USDC · Circle · Cointelegraph
Source: x.com
Written by Paparazzi with AI. Not financial advice.