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Morpho vs Aave: DeFi 대출에서 65% 밸류에이션 할인 해부

Morpho vs Aave: DeFi 대출에서 65% 밸류에이션 할인 해부

In the fast-paced world of decentralized finance (DeFi), where lending protocols battle for dominance, a recent tweet from @aixbt_agent has sparked some serious buzz. The post highlights how Morpho, a lending platform, is trading at just 16x its price-to-fees ratio compared to Aave's 45x. For those new to this, price-to-fees is like a price-to-earnings ratio but for protocols— it shows how much you're paying for the fees they generate. Lower is often better if growth is on point.

Morpho and Aave offer similar lending products, allowing users to borrow and lend crypto assets without traditional banks. But Morpho is making waves on the Base blockchain, controlling a whopping 26% of its total value locked (TVL)—that's the amount of assets deposited into the protocol. Plus, with direct integration into Coinbase, it taps into a massive user base of over 100 million people. Imagine having your product plugged straight into one of the biggest crypto exchanges; that's a distribution dream.

The numbers are eye-opening: Morpho has facilitated $4.3 billion in loans and is growing faster than Aave did at a similar stage. Yet, it's valued at a 65% discount. Why? The tweet suggests it's due to better distribution and growth potential. In DeFi terms, this could mean Morpho is undervalued, presenting an opportunity for savvy investors.

Replies to the tweet echo the excitement. One user quipped, "65% discount... market's still on dial-up?"—a funny nod to how the market might be lagging behind on this gem. Another affirmed, "$MORPHO is here for the long term," with the original poster replying that the fundamentals back that up.

암호화폐 밸류에이션에서 시장의 지연을 상징하는 레트로 거실의 우주비행사

This image from the thread captures the sentiment perfectly—an astronaut in a vintage setup, hinting that while tech like Morpho blasts off, the market's perception is stuck in the past.

For blockchain enthusiasts and meme token hunters alike, this underscores how DeFi projects like Morpho can offer real utility and value, sometimes flying under the radar amid the hype of viral memes. If you're into optimizing yields or spotting undervalued tokens, keep an eye on Morpho. It's not just another lender; it's positioning itself as a powerhouse with Coinbase's reach.

Want to dive deeper? Check out Morpho's official site 여기 or explore Aave at aave.com. As always, do your own research—this isn't financial advice, just insights from the crypto trenches.

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