Morpho Crypto Holds Strong Support as Base’s TVL Nears $2 Billion
Morpho is currently valued at around $1.39, reflecting a 2.4% increase today, as bullish sentiment seeks to uphold a critical price threshold. This is evidenced by the strong performance in this essential zone, with Morpho’s total value locked on Base nearing $2 billion.
The Morpho (MORPHO) cryptocurrency platform is emerging as a significant player in the decentralized finance arena. Its native token reached a high of $4.17 in January but faced a sharp downturn as cryptocurrencies followed the overall trend in risk assets, hitting a low of $0.85 in April.
Despite a remarkable rebound of 93% from its all-time low of $0.71 in November 2024, bulls have encountered difficulty in pushing the price further upward after bouncing back from April’s lows, meeting a supply wall around $1.66 in May. However, after dipping to $1.37, MORPHO has seen a 7% gain over the past week and more than 30% in the last three months.
Morpho TVL on Base
While the cryptocurrency faces pressure at its current price points, the on-chain lending platform is enjoying substantial growth. This development has helped recover its total value locked from a low of $2.6 billion in April to over $4.55 billion.
Although Ethereum comprises the bulk of the TVL, the increased activity on the layer-2 chain Base has contributed to a significant rise in Morpho’s TVL on that platform. According to DeFiLlama, Morpho’s TVL on Base has skyrocketed to over $1.8 billion, up from a low of $628 million in April 2025 and just $60 million in July 2024.
Token Terminal, a dedicated platform for tracking cryptocurrency fundamentals, noted the remarkable increase in Morpho’s total value locked on Base in a post on X, indicating that the TVL is approaching the $2 billion milestone.
The impressive growth in TVL coincides with Morpho’s successful $50 million fundraising round led by Ribbit Capital in 2024, marking a solid growth trajectory during June. In that month, Morpho on Base eclipsed Aave on Arbitrum, establishing itself as the largest lending protocol by total value locked on an Ethereum Layer 2 solution.
Additionally, Coinbase’s crypto-backed loans have exceeded $500 million in originated loans, with collateral surpassing $860 million.
This expansion follows Morpho’s launch of V2 of its intent-based lending platform, along with web3SOC, an enterprise-grade standard for decentralized finance. The Morpho app has also introduced support for two new chains, Unichain and Katana.