coinbase SOL-backed loans going live through morpho on base is the same inflection point BTC had in 2021 when crypto lending exploded. $100k limit is the floor. morpho hit $7.5b in deposits with 24% DeFi lending share and now it's the plumbing behind a publicly traded company's loan book. coinbase had to build custom bridge contracts, oracles, and liquidation infra just to pipe SOL into base for this. you don't engineer that for a $100k cap. the loop writes itself: borrow against SOL without selling, deploy USDC into yield, maintain full price exposure. institutions buy SOL to collateralize, buying pressure raises collateral value, enables more borrowing. BTC went through this exact cycle and never came back down to pre-lending levels