On-chain data platform Santiment shows that MORPHO has recently seen more obvious signs of capital inflows. Daily whale trading, new addresses, and net outflows from exchanges have all increased, but the token price has not yet followed suit and remains within a range.
Whale trading and exchange outflows rose in tandem.
Santiment data shows that MORPHO recorded 68 whale trades exceeding $100,000 in a single day, the highest level since October 2, 2025. An increase in large transactions typically indicates increased participation from high-net-worth individuals.
At the same time, the network saw 337 new addresses added, marking a new single-day high since March 15, 2026. This increase in new addresses indicates that on-chain activity is not only coming from existing users, but also from new participants joining the network.
More notably, approximately 4.35 million MORPHO tokens were transferred out of centralized exchanges in a single day. This is the largest single-day outflow from exchanges since February 4, 2026. Tokens leaving exchanges typically indicate a reduction in the short-term supply available for sale.
- There were 68 whale trades, with each trade exceeding $100,000.
- 337 new addresses were added, a new high in recent months.
- Approximately 4.35 million MORPHO tokens flowed out of exchanges.
Prices remain within a consolidation range.
Despite strengthening on-chain metrics, the price of MORPHO has not yet seen a sustained upward surge. The article states that the token is currently fluctuating within an upward channel, and is more likely to consolidate than break out definitively.
Looking at the trading volume distribution, the area around $1.93 is currently the main area of high trading volume, which is the price range where market trading is most concentrated. This usually means that the bulls and bears are in a relatively balanced state for the time being, and the market has not yet formed a one-sided direction.
The article also mentions that the Relative Strength Index (RSI) has fallen back to around 47 and broken below the signal line, indicating a weakening of short-term momentum. However, the indicator has not yet entered a clearly oversold zone, so the price may either correct upwards or continue to fall.
$2.20 remains a key resistance level.
Currently, resistance remains concentrated around $2.20. MORPHO has encountered resistance near this level multiple times over the past few months, indicating that selling pressure has not yet been effectively absorbed.
On the downside, watch the lower edge of the ascending channel, around $1.60. If the price effectively breaks above $2.20, the recent outflows from exchanges, whale buying, and address growth are more likely to translate into stronger price momentum. If it fails to break through, the current consolidation pattern may continue.
