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Morpho’s market size jumped +$1B WoW (+20%), and most of it traces back to Katana integrations with OKX and Binance. Fresh USDT and USDC are bridging in, but here’s the interesting part: the same liquidity gets counted twice. First in the Ethereum bridge vault, then again once it’s deployed on Katana. The capital flows matter as much as raw deposits. When liquidity starts routing through one infra layer, the numbers (and the narrative) scale fast.