Ledger Unveils Bitcoin Loans at TOKEN2049 With Morpho-Powered Feature
Morpho (MORPHO)
Editor:
Eugene Serbin
Ledger announced a new Crypto Loan feature at TOKEN2049 Singapore, allowing Bitcoin holders to access liquidity without selling their assets. Eligible users can pledge Wrapped Bitcoin in cbBTC or wBTC format as collateral to borrow stablecoins like USDC or USDT. The key differentiator is that final transaction approval remains on the user’s physical device, preserving self-custody of private keys.
This functionality is powered by the decentralized credit network Morpho, through technical provider Yield.xyz. Morpho co-founder Paul Frambot described the integration as a “powerful liquidity flywheel,” noting that stablecoins from Ledger’s Earn product can directly fund these loans. The update provides direct access to the Morpho protocol from Ledger devices, removing the need for browser extensions or software wallets.
Coinbase recently launched fixed-rate Bitcoin loans for UK users, while JPMorgan has explored credit lines secured by Bitcoin and Ethereum. Ledger claims to custody around 30% of Bitcoin held by retail investors.
How the market reacted
Whalio's own Binance spot order flow for MORPHO, measured when this story was written up on 7 October 2026. Not the outlet's figures.
Morpho is trading at $2.69 with a 24-hour spot volume of $3,475,178. Buy pressure is currently strong, with the 1-hour buy ratio at 73.1% compared to a 24-hour average of 57.1%. The 1-hour volume delta is +$41,331, while the 24-hour cumulative volume delta stands at +$695,046. This indicates that buying volume is significantly outpacing selling volume in the short term. The high buy ratio suggests that aggressive accumulation is driving the current price action.
The latest daily buy ratio of 49.7% sits at the 38th percentile of the last 322 days, against a median of 51.0% - ordinary for this coin.
Was that an ordinary day?
The same Binance spot measurements for MORPHO, averaged over the days leading up to the story.
Over the preceding week, Morpho saw a 7-day average buy ratio of 50.1%, making today’s 24-hour reading of 57.1% an unusual day of heightened buying interest. The 8-day price change was +8.8%, with a total volume delta of +$477,599. Today’s 24-hour volume delta of +$695,046 exceeds the weekly total, indicating a spike in net buying activity. This volume was 0.76x the weekly average, suggesting that while buying intensity is high, total turnover is slightly below the recent norm.