According to Wu Blockchain, analyst Kunal Doshi shared that his analysis revealed a significant amount of activity on Morpho is linked to Coinbase users. Data shows that USDC stablecoin and Coinbase Wrapped BTC (cbBTC) together account for 53% of all deposits on Morpho. Among these, Coinbase users contributed 83% of cbBTC deposits and 59% of USDC deposits. On the lending side, out of approximately $2.3 billion in USDC loans on Morpho, around $1.2 billion came from Coinbase users using cbBTC as collateral to borrow USDC. https://(wublock123.com)/news/morpho-protocol-83-percent-cbbtc-59-percent-usdc-deposits-from-coinbase-users-63176