Morpho Holds Key Level as TVL on Base Nears $2B ๐
Morpho is quietly making major moves in the DeFi space.
While the token ($MORPHO) trades around $1.39 โ up 2.4% on the day โ bulls are trying to defend a key support level. Itโs not just about price though. Under the hood, Morphoโs fundamentals are getting stronger than ever.
Hereโs whatโs happening:
๐น TVL Surge:
Total Value Locked across the Morpho protocol has recovered massively โ from $2.6B in April to $4.55B+ now.
๐น Base is Booming:
Morphoโs TVL on Base alone has grown from just $60M in July 2024 to $1.8B+ today. Thatโs an eye-watering 29x jump in less than a year.
๐น Flipping the Giants:
In June, Morpho on Base overtook Aave on Arbitrum, becoming the largest lending protocol by TVL on any Ethereum Layer 2.
๐น Recent Momentum:
โ MORPHO is up 93% from its ATL ($0.71 in Nov 2024)
โ Still faces supply resistance near $1.66
โ +7% this past week, +30% in last 3 months
But perhaps the biggest signal of its long-term ambition is this:
๐ธ Morpho V2: A powerful upgrade with intent-based lending logic.
๐ธ Web3SOC: A new DeFi standard for enterprises.
๐ธ Cross-chain Expansion: Now on Unichain & Katana too.
๐ก Context: Morpho raised $50M in 2024 led by Ribbit Capital, and is shaping up to be a serious blue-chip contender in decentralized finance.
Why it matters:
This is not just about a short-term pump โ Morpho is solidifying itself as a foundational piece of Ethereum Layer 2 DeFi infrastructure.
Keep your eyes on this one. ๐
