Cryptocurrency Morpho maintains a significant stance as Total Value Locked (TVL) on its base approaches $2 billion
In the ever-evolving world of decentralized finance (DeFi), Morpho continues to make waves, particularly on layer-2 chains like Base. The DeFi protocol, known for its hybrid peer-to-peer lending structure, has seen a significant surge in its Total Value Locked (TVL), reaching over $1.8 billion[1].
This growth, a testament to Morpho's robust fundamentals, has placed it as the largest lending protocol by TVL on an Ethereum L2, surpassing Aave on Arbitrum in June[1]. The TVL has been on an upward trajectory, rising towards the $2 billion mark, a remarkable feat considering its low of $628 million in April 2025 and just $60 million in July 2024[1].
Morpho's strategic expansion and technological advancements have played a crucial role in this surge. The unveiling of its V2 intent-based lending platform and support for new chains have contributed to this growth[1]. Furthermore, Morpho's inclusion in Grayscale's Q3 2025 crypto portfolio underscores its strong adoption[5].
The increase in Morpho's TVL has been attributed to the rise in collateral caps, particularly for stETH, leading to a 25.35% monthly gain in TVL across its platforms[4]. This rapid ascent has positioned Morpho just outside the top 10 DeFi protocols by TVL, surpassing legacy competitors like JustLend and Pendle[4].
Meanwhile, Morpho's native token, MORPHO, has also experienced a rollercoaster ride. Despite dipping to $1.37, MORPHO has bounced back, up 7% in the past week and over 30% in the past three months[2]. The token reached highs of $4.17 in January[3]. As of writing, the trading price of MORPHO stands at approximately $1.39.
The Morpho app has also expanded its reach by adding support for two new chains, Unichain and Katana, further solidifying its position in the DeFi ecosystem.
On a separate note, BONK, another cryptocurrency, is gearing up for its 1M holder milestone, with its price surging 60% in a week[6]. Despite not being directly related to Morpho, the growth of BONK underscores the overall momentum in the cryptocurrency market.
Coinbase, another significant player in the crypto space, has also reported a surge in crypto-backed loans, with over $500 million USDC in loans originated[7]. This indicates a growing appetite for crypto-based financial services.
In conclusion, Morpho's rise in the DeFi sector is a compelling narrative of strategic expansion, technological advancements, and strong user adoption. As it continues to grow and innovate, Morpho is poised to make a significant impact in the decentralized finance landscape.
[1] Token Terminal [2] CoinMarketCap [3] CoinGecko [4] DeFi Llama [5] Grayscale Investments [6] CoinMarketCap [7] Coinbase Blog
- The DeFi protocol, Morpho, has seen a significant surge in its Total Value Locked (TVL), surpassing Aave on Arbitrum and placing it as the largest lending protocol by TVL on an Ethereum L2.
- Morpho's native token, MORPHO, has bounced back from a dip, up 7% in the past week and over 30% in the past three months, reaching highs of $4.17 in January.
- Coinbase, another significant player in the crypto space, has reported a surge in crypto-backed loans, with over $500 million USDC in loans originated, indicating a growing appetite for crypto-based financial services.
- BONK, another cryptocurrency, is gearing up for its 1M holder milestone, with its price surging 60% in a week, despite not being directly related to Morpho, the growth of BONK underscores the overall momentum in the cryptocurrency market.
- Morpho continues to make waves in the ever-evolving world of decentralized finance (DeFi) with its strategic expansion, technological advancements, and strong user adoption, poised to make a significant impact in the decentralized finance landscape.
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