Morpho traded near $1.39 and was 2.4% in the green on the day, as bulls look to hold a key price level, with resilience at this crucial zone showing as Morpho’s total value locked on Base nears $2 billion. The Morpho ( MORPHO ) crypto platform is increasingly a major player in the decentralized finance ecosystem. It’s native token reached highs of $4.17 in January, but fell sharply as cryptocurrencies mirrored broader risk assets, MORPHO hit lows of $0.85 in April. Although bulls have seen MORPHO bounce 93% since its all-time low of $0.71 in November 2024, they failed to rally higher after bouncing off April’s bottom, with price running into a supply wall around $1.66 in May. Despite this, and a dip to $1.37, MORPHO is up 7% in the past week and over 30% in the past three months. You might also like: BONK price surges 60% in a week, eyes $0.000040 as 1M holder milestone nears Morpho TVL on Base While the cryptocurrency faces pressure at current levels, the on-chain lending platform’s services are seeing notable growth. This has helped its total value locked metric recover from lows of $2.6 billion in April to over $4.55 billion. Ethereum accounts for most of the TVL, but the surge in usage across the layer-2 chain Base means a massive spike in Morpho TVL on the platform. Per DeFiLlama , the Mopho TVL on Base has jumped to over $1.8 billion – up from a low of $628 million in April 2025 and just $60 million in July 2024. Crypto fundamentals tracking platform Token Terminal highlighted this surge in Morpho’s total value locked on Base in a post on X. It noted a significant spike, with the TVL now rising toward the $2 billion mark. 💵🐸 @RibbitCapital led @MorphoLabs 's $50M strategic round in 2024. One year later, Morpho has close to $2B in TVL on @base . pic.twitter.com/UBr1DLfwfK — Token Terminal 📊 (@tokenterminal) July 8, 2025 TVL explosion comes as Mopho, which raised $50 million in a strategic round led by Ribbit Capital in 2024, recorded a decent growth trend in June . In that month, Morpho on Base flipped Aave on Arbitrum, becoming the largest lending protocol by total value locked on an Ethereum L2. Meanwhile, Coinbase crypto-backed loans saw over $500 million USDC in originated loans, and collaterals surpassed $860 million. Growth has also come amid Morpho’s unveiling of V2 of its intent-based lending platform and web3SOC, an enterprise-grade standard for decentralized finance. The Morpho app also added support for two new chains, Unichain and Katana. You might also like: Morpho and Gelato launch simple loans using crypto as collateral
