Like other decentralized AI networks, Morpheus seeks to curtail the negative side effects of AI, such as centralization, censorship, and data monopolies.
The vault has been filled in excess of an initial $100,000 target as of Asian morning hours, with $240,000 worth of stablecoins deposited for CAT on Solana, data shows.
The issuance comes at a time when the European stablecoin market is poised for a shake-up as regulations for issuers will enter into full force by the end of this year.
Data, however, show no uptick in Runes protocol on chain metrics as of Monday. Onchain metrics typically follow social activity and narratives, with prices leading afterward.
Low-unit bias, demand on Coinbase, frenzied community trading activity and BONK’s standing within the Solana ecosystem are positioning it for more growth ahead, traders say.
