Amid weakened investor sentiment in the cryptocurrency market, some altcoins are showing strength with double-digit gains. Morpho (MORPHO), a decentralized finance (DeFi) token, rose more than 11%, followed by OKZOO (AIOT) and Yuldo (ESPORTS), which surged 22% and 23% respectively. Notably, trading volume has risen sharply in tokens with relatively small market capitalizations, amplifying price volatility.

■ Morpho's TVL Up About 89% in One Year On November 1, Morpho rose 11.46% over the past 24 hours. Its 7-day gain was 10.67%, with a market capitalization of about $1.26 billion.

Morpho is a decentralized lending protocol that allows users to borrow or lend against cryptocurrency collateral. It serves as lending infrastructure within the Base ecosystem and is expanding its business through partnerships with various financial platforms.

Growth is also evident in its total value locked (TVL). Over the past year, deposits reportedly grew from about $9 billion to more than $17 billion, an increase of roughly 88.9% based on the $9 billion figure. However, growth in deposited assets may reflect not only new capital inflows but also changes in collateral prices and calculation methods.

Some analysts note that Morpho's price chart has shown higher peaks since 2026. However, a direct causal relationship between protocol growth and token price gains requires separate verification. Key points to watch going forward are whether TVL growth continues and whether partnerships with major financial platforms expand.

■ OKZOO Trading Volume Up 651% in a Day OKZOO's AIOT token rose 22.68% over the past 24 hours and 34.22% over 7 days, with a market capitalization of about $46.01 million.

The surge in trading volume was particularly notable. AIOT's 24-hour trading volume reached $8.58 million, up 651.56%, far exceeding its price gain and suggesting active short-term trading. However, a volume spike does not necessarily mean an influx of new investors or sustained buying, as selling by existing holders and short-term trading can also inflate volume.

The long-term trend tells a different story. AIOT's one-year return stands at -82.03%. Despite gaining more than 34% in a week, it remains sharply lower than a year ago, making it difficult to judge long-term recovery from short-term gains alone.

■ Yuldo Up 23% Daily... One-Year Return -96% Yuldo's ESPORTS token rose 23.20% over the past 24 hours, the largest daily gain among the three tokens. Its 7-day gain was 11.29%, market capitalization about $7.97 million, and trading volume up 196.34% over 24 hours.

As a small-cap cryptocurrency with a market value under $10 million, price swings warrant caution. Generally, cryptocurrencies with small market caps and low liquidity can move sharply even on modest trading volume, though market cap alone cannot precisely gauge actual liquidity or trading risk.

Its long-term returns are also weak. ESPORTS has fallen 96.18% over the past year, leaving its current price at roughly 3.82% of its year-ago level. Despite the 23% daily surge, the long-term decline remains steep.

■ How the Three Tokens' Rallies Differ Morpho is a DeFi asset with a $1.26 billion market cap, where TVL expansion is the key focus. By contrast, OKZOO and Yuldo are small-cap tokens with sharp trading volume spikes, and both share the pattern of short-term gains after falling 82.03% and 96.18% respectively over the past year.

Morpho's rally also needs further confirmation of sustainability, as even with growing deposits, prices can fall depending on token supply, market liquidity, and shifts in investor sentiment.

In the current market, DeFi infrastructure tokens and small-cap altcoins are showing divergent uptrends. Going forward, the key issues are whether Morpho's TVL growth and platform partnerships continue, and whether OKZOO and Yuldo sustain their trading volumes. In particular, for tokens that have spiked short-term, investors should examine not only recent gains but also long-term returns and actual trading liquidity.

[This article is intended to convey price and trading volume trends in the cryptocurrency market and does not recommend buying or selling any specific virtual asset. Small-cap cryptocurrencies can be highly volatile, and rising trading volume does not guarantee future gains. Prices, market capitalizations, and trading volumes may vary depending on the time of measurement. This article was produced with partial AI assistance.]