Zama Expands Confidential Morpho Vaults and Launches Private Swaps
Morpho (MORPHO)
Editor:
Eugene Serbin
Crowdfundinsider.com reports that Zama is expanding confidential finance on Ethereum by opening deposits into 16 new Morpho vaults. These vaults cover USDC, USDT, AUSD, and TGBP, alongside their encrypted counterparts, allowing institutions to earn yield without revealing position sizes or timing. Twelve of these vaults provide a private path into strategies already available publicly on Morpho.
The initiative builds on a June launch with Steakhouse Financial, where a vault grew to approximately $40 million in total value locked within seven weeks. Additional curators joining the effort include Armitage by Wintermute, Flowdesk, RockawayX, and Bitwise. Zama argues that hiding individual balances and transfer amounts addresses the structural barrier of public position exposure for large allocators.
Alongside the vault expansion, Zama is rolling out the Zama Swap Protocol to enable exchanges between confidential tokens and vault shares without revealing trade intent. This allows users to rotate between cash-like tokens and yield-bearing shares without unwrapping and exposing amounts on the public tape. Integrations with Utila, Zerion Wallet, and Yield.xyz are expected in the coming weeks. Morpho co-founder Merlin Egalite noted that institutions are increasingly seeking onchain allocation methods that meet operational confidentiality requirements.
How the market reacted
Whalio's own Binance spot order flow for MORPHO, measured when this story was written up on 15 September 2026. Not the outlet's figures.
Whalio data shows Morpho trading at $2.18 with a 1-hour buy ratio of 64.7%, indicating strong immediate buying pressure compared to the 51.4% ratio over the past 4 hours. The 24-hour buy ratio stands at 59.9%, suggesting that while buying remains dominant, the intensity has moderated slightly from the peak seen in the last hour. Volume delta data reflects this activity, with +$20,768 in the last hour and +$21,457 over four hours, contributing to a 24-hour volume delta of +$567,892. The Cumulative Volume Delta (CVD) closed at +$392,517, confirming that net buying has outweighed selling over the full day. This flow indicates that buyers are actively accumulating the asset, with net buying occurring in 16 out of the last 24 hours.
The latest daily buy ratio of 49.0% sits at the 31st percentile of the last 324 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 experienced a 7-day average buy ratio of 53.7%, making today's 24-hour ratio of 59.9% an unusually high level of buying interest by 6.2 percentage points. However, spot volume for the day was only 0.86 times the weekly average, suggesting that while buyers are more aggressive, the total volume traded is lower than usual. Despite this elevated buy ratio, the price has dropped 11.9% over the last 8 days, with a total volume delta of +$2,353,481 recorded over that period. This divergence shows that consistent buying pressure has not yet been sufficient to reverse the recent downward price trend. The current day represents a shift toward stronger buyer conviction relative to the weekly norm, even as volume remains subdued.