South Korean Traders Send MORPHO Whale Activity Soaring

South Korean crypto traders made their presence felt this weekend by pushing Morpho whale transactions, wallet creation, and exchange outflows to multi month highs. The sudden spike coincided directly with Upbit launching a new won trading pair for the token.

On chain data provider Santiment recorded 68 whale transactions above 100,000 dollars in a single day, marking the highest daily count since October 2025. Wallet creation also jumped with 337 new addresses appearing. At the same time, traders withdrew 4.35 million tokens from exchanges. The news triggered an immediate price surge, pushing MORPHO from 1.93 dollars to an intraday high of 2.17 dollars while daily volume multiplied nearly five times.

Prices have since cooled down and settled near 1.99 dollars as the initial excitement faded. However, Upbit remains the top venue for MORPHO trading volume, beating out Binance and giving Korean retail traders significant influence over short term price action. Traders should watch the Korean markets closely over the coming weeks to see if this surge turns into lasting demand.