Morpho TVL Up 150% Since its Token Launch

Morpho Protocol, the third- biggest lending protocol by assets held in smart contracts, is at a new all-time high total-value locked (TVL) of $3.65 billion, a 150% increase since its token launch.

The protocol, which launched in 2022, grew by over 400% through 2024, and launched its native token in November. The MORPHO token is up by 95% to $2.35 from its launch price of $1.2, or a $1.2 billion valuation. The token rose as high as $3.65 on Jan 5.

Weekly active users also spiked post-TGE, with an average 9,000 weekly users over the last 7 days, compared to 6,000 on average the week prior to the token launch.

Morpho has raised $70 million since its initial seed round in October 2021, and has received funding from the likes of Andreessen Horowitz (A16z), Variant Fund, Pantera Capital, and Coinbase Ventures. The most recent round in August 2024 for $50 million was led by Ribbit Capital.

The project, which is built using liquidity from Aave and Compound pools, is live on Ethereum, and one of its leading Layer 2s, Base. Since its launch on Base in June, more than $600 million has been deposited into Morpho, making it one of the fastest growing lending protocols on Base.