Ask about Morpho · freeTotal Value Locked$11.124b
TVL by Chain
Ethereum$5.093b
Base$4.36b
Robinhood Chain$573.78m
Arc$286.54m
Arbitrum$181.97m
Monad$168.79m
Hyperliquid L1$126.35m
Pharos$110.54m
Tempo$67.89m
Flare$44m
World Chain$33.63m
Stable$26.06m
Katana$23.07m
Citrea$8.35m
Etherlink$4.37m
OP Mainnet$3.68m
Morph$3.15m
Polygon$3.01m
Sei$2.05m
Plume Mainnet$1.4m
MegaETH$926,637
Unichain$823,374
Celo$571,540
XDC$517,578
TAC$218,602
Kaia$105,147
Abstract$31,722
Soneium$22,788
Avalanche$506
Sonic$103
RISE$91
BSC$82
0G$34
Ink$13
Lisk$0
Gnosis$0
Linea$0
Fraxtal$0
Scroll$0
Mode$0
Corn$0
Hemi$0
Zircuit$0
Bitlayer$0
Botanix$0
Key Metrics
Fees 30d$26.1m
Fees 30d by chain
Base$11.2m
Ethereum$10.98m
Robinhood Chain$1.82m
Monad$656,033
Arc$443,723
Hyperliquid L1$394,226
Arbitrum$198,543
Stable$184,738
Flare$93,438
Pharos$61,339
Katana$39,584
Plume Mainnet$14,520
Polygon$8,625
OP Mainnet$5,664
Unichain$3,259
Citrea$2,837
Abstract$1,381
Tempo$340.89
Celo$31.73
World Chain$5.46
Hemi$0.01
Fraxtal$0
Ink$0
Mode$0
Morph$0
Scroll$0
Soneium$0
Sonic$0
Zircuit$0
Fees 7d$6.91m
Base$3.22m
Ethereum$2.68m
Robinhood Chain$444,281
Monad$183,123
Hyperliquid L1$102,566
Arc$94,837
Arbitrum$81,809
Stable$49,597
Flare$21,356
Pharos$20,708
Katana$8,027
Plume Mainnet$3,467
Polygon$2,951
OP Mainnet$1,699
Citrea$884
Unichain$712.31
Tempo$6.96
Celo$4.72
World Chain$0.12
Abstract$0.07
Fraxtal$0
Hemi$0
Ink$0
Mode$0
Morph$0
Scroll$0
Soneium$0
Sonic$0
Zircuit$0
Fees 24h$982,515
Ethereum$394,752
Base$365,385
Robinhood Chain$65,004
Stable$49,597
Hyperliquid L1$45,049
Monad$25,200
Arc$14,912
Arbitrum$14,006
Pharos$3,335
Flare$3,042
Katana$1,190
Polygon$331
Citrea$240
Plume Mainnet$201
OP Mainnet$149
Unichain$121
Celo$0.98
Tempo$0.59
Abstract$0.01
World Chain$0.01
Fraxtal$0
Hemi$0
Ink$0
Mode$0
Morph$0
Scroll$0
Soneium$0
Sonic$0
Zircuit$0
Cumulative Fees$388.05m
Ethereum$229.46m
Base$121.76m
Hyperliquid L1$15.85m
Robinhood Chain$5.22m
Arbitrum$4.9m
Monad$3.31m
Katana$2.94m
Polygon$1.29m
Unichain$1.06m
Flare$533,854
Arc$485,127
Stable$436,017
OP Mainnet$318,991
Plume Mainnet$130,035
Pharos$128,230
Soneium$90,232
Corn$40,518
World Chain$36,266
Tempo$13,428
Citrea$13,117
Abstract$12,428
Hemi$3,640
Etherlink$3,354
Celo$718.71
Fraxtal$1
Morph$0.38
Ink$0
Mode$0
Scroll$0
Sonic$0
Zircuit$0
Revenue 30d$0
Revenue 30d by chain
Abstract$0
Arbitrum$0
Arc$0
Base$0
Celo$0
Citrea$0
Ethereum$0
Flare$0
Fraxtal$0
Hemi$0
Hyperliquid L1$0
Ink$0
Katana$0
Mode$0
Monad$0
Morph$0
OP Mainnet$0
Pharos$0
Plume Mainnet$0
Polygon$0
Robinhood Chain$0
Scroll$0
Soneium$0
Sonic$0
Stable$0
Tempo$0
Unichain$0
World Chain$0
Zircuit$0
Revenue 7d$0
Abstract$0
Arbitrum$0
Arc$0
Base$0
Celo$0
Citrea$0
Ethereum$0
Flare$0
Fraxtal$0
Hemi$0
Hyperliquid L1$0
Ink$0
Katana$0
Mode$0
Monad$0
Morph$0
OP Mainnet$0
Pharos$0
Plume Mainnet$0
Polygon$0
Robinhood Chain$0
Scroll$0
Soneium$0
Sonic$0
Stable$0
Tempo$0
Unichain$0
World Chain$0
Zircuit$0
Revenue 24h$0
Abstract$0
Arbitrum$0
Arc$0
Base$0
Celo$0
Citrea$0
Ethereum$0
Flare$0
Fraxtal$0
Hemi$0
Hyperliquid L1$0
Ink$0
Katana$0
Mode$0
Monad$0
Morph$0
OP Mainnet$0
Pharos$0
Plume Mainnet$0
Polygon$0
Robinhood Chain$0
Scroll$0
Soneium$0
Sonic$0
Stable$0
Tempo$0
Unichain$0
World Chain$0
Zircuit$0
Cumulative Revenue$0
Abstract$0
Arbitrum$0
Arc$0
Base$0
Celo$0
Citrea$0
Corn$0
Ethereum$0
Etherlink$0
Flare$0
Fraxtal$0
Hemi$0
Hyperliquid L1$0
Ink$0
Katana$0
Mode$0
Monad$0
Morph$0
OP Mainnet$0
Pharos$0
Plume Mainnet$0
Polygon$0
Robinhood Chain$0
Scroll$0
Soneium$0
Sonic$0
Stable$0
Tempo$0
Unichain$0
World Chain$0
Zircuit$0
Holders Revenue 30d$0
Holders Revenue 30d by chain
Abstract$0
Arbitrum$0
Arc$0
Base$0
Celo$0
Citrea$0
Ethereum$0
Flare$0
Fraxtal$0
Hemi$0
Hyperliquid L1$0
Ink$0
Katana$0
Mode$0
Monad$0
Morph$0
OP Mainnet$0
Pharos$0
Plume Mainnet$0
Polygon$0
Robinhood Chain$0
Scroll$0
Soneium$0
Sonic$0
Stable$0
Tempo$0
Unichain$0
World Chain$0
Zircuit$0
Holders Revenue 7d$0
Abstract$0
Arbitrum$0
Arc$0
Base$0
Celo$0
Citrea$0
Ethereum$0
Flare$0
Fraxtal$0
Hemi$0
Hyperliquid L1$0
Ink$0
Katana$0
Mode$0
Monad$0
Morph$0
OP Mainnet$0
Pharos$0
Plume Mainnet$0
Polygon$0
Robinhood Chain$0
Scroll$0
Soneium$0
Sonic$0
Stable$0
Tempo$0
Unichain$0
World Chain$0
Zircuit$0
Holders Revenue 24h$0
Abstract$0
Arbitrum$0
Arc$0
Base$0
Celo$0
Citrea$0
Ethereum$0
Flare$0
Fraxtal$0
Hemi$0
Hyperliquid L1$0
Ink$0
Katana$0
Mode$0
Monad$0
Morph$0
OP Mainnet$0
Pharos$0
Plume Mainnet$0
Polygon$0
Robinhood Chain$0
Scroll$0
Soneium$0
Sonic$0
Stable$0
Tempo$0
Unichain$0
World Chain$0
Zircuit$0
Cumulative Holders Revenue$0
Abstract$0
Arbitrum$0
Arc$0
Base$0
Celo$0
Citrea$0
Corn$0
Ethereum$0
Etherlink$0
Flare$0
Fraxtal$0
Hemi$0
Hyperliquid L1$0
Ink$0
Katana$0
Mode$0
Monad$0
Morph$0
OP Mainnet$0
Pharos$0
Plume Mainnet$0
Polygon$0
Robinhood Chain$0
Scroll$0
Soneium$0
Sonic$0
Stable$0
Tempo$0
Unichain$0
World Chain$0
Zircuit$0
Incentives 1y$9.36m
Incentives 30d$486,707
Incentives 7d$96,564
Incentives 24h$386.76
Cumulative Incentives$46.74m
Earnings (30d Run Rate)-$5.94m
Earnings 30d-$486,707
Earnings 7d-$96,564
Earnings 24h-$386.76
Cumulative Earnings-$46.74m
Collateral Liquidated 30d$21.54m
Collateral Liquidated 30d by chain
Base$17.09m
Ethereum$2.26m
Hyperliquid L1$1.66m
Robinhood Chain$317,569
World Chain$70,108
Abstract$64,128
Arc$26,768
Flare$20,167
Monad$10,894
Polygon$8,182
Katana$3,493
Arbitrum$2,708
Plume Mainnet$501.45
Unichain$3.43
Pharos$0.12
OP Mainnet$0.01
Celo$0
Citrea$0
Fraxtal$0
Hemi$0
Ink$0
Mode$0
Morph$0
Scroll$0
Soneium$0
Sonic$0
Stable$0
Tempo$0
Zircuit$0
Collateral Liquidated 7d$11.44m
Base$9.39m
Ethereum$1.55m
Hyperliquid L1$409,370
World Chain$43,598
Robinhood Chain$25,181
Monad$10,885
Flare$7,034
Katana$3,359
Arbitrum$874.09
Arc$79
Plume Mainnet$46.74
Pharos$0.12
Abstract$0
Celo$0
Citrea$0
Fraxtal$0
Hemi$0
Ink$0
Mode$0
Morph$0
OP Mainnet$0
Polygon$0
Scroll$0
Soneium$0
Sonic$0
Stable$0
Tempo$0
Unichain$0
Zircuit$0
Collateral Liquidated 24h$696,590
Hyperliquid L1$340,473
Base$272,661
Ethereum$69,600
World Chain$10,770
Katana$2,295
Robinhood Chain$509
Flare$250
Arbitrum$26
Plume Mainnet$6.15
Abstract$0
Arc$0
Celo$0
Citrea$0
Fraxtal$0
Hemi$0
Ink$0
Mode$0
Monad$0
Morph$0
OP Mainnet$0
Pharos$0
Polygon$0
Scroll$0
Soneium$0
Sonic$0
Stable$0
Tempo$0
Unichain$0
Zircuit$0
Cumulative Collateral Liquidated$108.51m
Ethereum$83.74m
Base$19.16m
Hyperliquid L1$4.25m
Robinhood Chain$982,615
Flare$141,358
Abstract$76,746
World Chain$72,665
Arc$26,768
Celo$22,905
Polygon$19,480
Monad$10,894
Arbitrum$5,787
Katana$4,136
Plume Mainnet$4,101
OP Mainnet$18.01
Morph$5.48
Unichain$3.43
Pharos$1.51
Sonic$0.04
Citrea$0
Etherlink$0
Fraxtal$0
Hemi$0
Ink$0
Mode$0
Scroll$0
Soneium$0
Stable$0
Tempo$0
Zircuit$0
Market Cap$1.458b
$MORPHO Price$2.07
Fully Diluted Valuation$2.072b
Outstanding FDV$2.07b
$MORPHO Volume 24h$19.9m
CEX Volume$12.14m
DEX Volume$9.42m(47.35% of total)
Active Loans$5.775b
Treasury$28.41m
Majors$67.07
Stablecoins$99.86
Own Tokens$28.41m
Others$1,184
Total Raised$243m
Jul 13, 2022$18mRound: StrategicInvestors: a16z, Variant
Feb 28, 2024Round: PrivateInvestors: Pantera Capital
Aug 1, 2024$50mRound: StrategicInvestors: Ribbit Capital, a16z crypto, Coinbase Ventures, Variant Fund, Pantera Capital, Brevan Howard, BlockTower Capital, Kraken Ventures, Hack VC, IOSG, RockawayX, L1D, Mirana Ventures, Cherry Crypto, Semantic, Fenbushi Capital, LeadBlock Partners, Robot Ventures
Jun 9, 2026$175mRound: Investors: Paradigm, a16z crypto, Ribbit Capital, VanEck, Apollo Global Management, Circle Ventures, Ledger Cathay Capital, Variant Fund, Wintermute Ventures, IOSG Ventures, HashKey Capital, SBI Group, BPI France, Mirana Ventures
Morpho bad debt or exploit in November 2026?
Quotes fetched just now.
Market details
Protocol Information
Morpho is a permissionless decentralized lending platform that operates on two levels: it offers tailored solutions for users to earn and borrow on their terms and provides a flexible infrastructure stack that empowers developers and businesses to build custom applications. Morpho's unique value lies in offering users the ability to tailor their own risk-reward profile by selecting from curated vaults, markets, or products.
- Morpho BlueLending
- Morpho MidnightLending
Methodology
TVL: Total value of all coins held in the smart contracts of the protocol
Fees:
Revenue:
Collateral Liquidated: USD value of collateral seized during protocol liquidations
Incentives: Tokens allocated to users through liquidity mining or incentive schemes, typically as part of governance or reward mechanisms.
Earnings: Revenue of the protocol minus the incentives distributed to users
Yields
Pools Tracked250
Average Supply APY5.22%
User Activity
Active Addresses (24h)3,425
Transactions (24h)63,839
Competitors
Morpho history
TVL is the default DefiLlama definition, which excludes Active Loans. Daily values are UTC snapshots from Aug 19, 2022 to Nov 6, 2026.
All-time high TVL: $11.482b on Oct 6, 2026. All-time low TVL: $25.13m on Sep 15, 2022.
Daily TVL, Oct 8, 2026 to Nov 6, 2026
| Date | TVL |
|---|---|
| Oct 8, 2026 | $11.268b |
| Oct 9, 2026 | $11.082b |
| Oct 10, 2026 | $11.219b |
| Oct 11, 2026 | $11.293b |
| Oct 12, 2026 | $11.369b |
| Oct 13, 2026 | $11.123b |
| Oct 14, 2026 | $11.264b |
| Oct 15, 2026 | $11.011b |
| Oct 16, 2026 | $11.096b |
| Oct 17, 2026 | $11.054b |
| Oct 18, 2026 | $11.038b |
| Oct 19, 2026 | $11.101b |
| Oct 20, 2026 | $11.101b |
| Oct 21, 2026 | $11.284b |
| Oct 22, 2026 | $11.371b |
| Oct 23, 2026 | $11.197b |
| Oct 24, 2026 | $11.266b |
| Oct 25, 2026 | $11.319b |
| Oct 26, 2026 | $11.324b |
| Oct 27, 2026 | $11.45b |
| Oct 28, 2026 | $11.402b |
| Oct 29, 2026 | $11.34b |
| Oct 30, 2026 | $10.602b |
| Oct 31, 2026 | $11.049b |
| Nov 1, 2026 | $11.139b |
| Nov 2, 2026 | $11.281b |
| Nov 3, 2026 | $11.092b |
| Nov 4, 2026 | $11.226b |
| Nov 5, 2026 | $11.089b |
| Nov 6, 2026 | $11.089b |
TVL at each month end, Dec 2024 to Nov 2026
| Date | TVL |
|---|---|
| Dec 31, 2024 | $3.252b |
| Jan 31, 2025 | $4.084b |
| Feb 28, 2025 | $3.275b |
| Mar 31, 2025 | $2.89b |
| Apr 30, 2025 | $2.8b |
| May 31, 2025 | $3.71b |
| Jun 30, 2025 | $4.2b |
| Jul 31, 2025 | $5.996b |
| Aug 31, 2025 | $7.403b |
| Sep 30, 2025 | $7.211b |
| Oct 31, 2025 | $8.518b |
| Nov 30, 2025 | $6.181b |
| Dec 31, 2025 | $5.803b |
| Jan 31, 2026 | $6.581b |
| Feb 28, 2026 | $5.703b |
| Mar 31, 2026 | $6.982b |
| Apr 30, 2026 | $7.008b |
| May 31, 2026 | $7.408b |
| Jun 30, 2026 | $6.644b |
| Jul 31, 2026 | $7.795b |
| Aug 31, 2026 | $9.517b |
| Sep 30, 2026 | $11.021b |
| Oct 31, 2026 | $11.049b |
| Nov 6, 2026 (latest) | $11.089b |
TVL at each year end, Dec 31, 2022 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2022 | $181.66m |
| Dec 31, 2023 | $598.61m |
| Dec 31, 2024 | $3.252b |
| Dec 31, 2025 | $5.803b |
Fees, revenue and holders revenue by UTC calendar month, Dec 2024 to Nov 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Dec 2024 | $11.81m | $0 | $0 |
| Jan 2025 | $10.93m | $0 | $0 |
| Feb 2025 | $10.04m | $0 | $0 |
| Mar 2025 | $7.09m | $0 | $0 |
| Apr 2025 | $5.62m | $0 | $0 |
| May 2025 | $6.35m | $0 | $0 |
| Jun 2025 | $8.12m | $0 | $0 |
| Jul 2025 | $12.16m | $0 | $0 |
| Aug 2025 | $19.06m | $0 | $0 |
| Sep 2025 | $22.81m | $0 | $0 |
| Oct 2025 | $24.15m | $0 | $0 |
| Nov 2025 | $22.93m | $0 | $0 |
| Dec 2025 | $12.25m | $0 | $0 |
| Jan 2026 | $15.65m | $0 | $0 |
| Feb 2026 | $17.74m | $0 | $0 |
| Mar 2026 | $11.34m | $0 | $0 |
| Apr 2026 | $14.55m | $0 | $0 |
| May 2026 | $15.28m | $0 | $0 |
| Jun 2026 | $18.77m | $0 | $0 |
| Jul 2026 | $14.89m | $0 | $0 |
| Aug 2026 | $18.43m | $0 | $0 |
| Sep 2026 | $19.59m | $0 | $0 |
| Oct 2026 | $25.82m | $0 | $0 |
| Nov 2026 (to date) | $4.43m | $0 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/morpho
Frequently asked questions
What is Morpho's TVL?
As of Nov 6, 2026, Morpho has $11.124b in total value locked. TVL has decreased 3% over the past 30 days.
What chains does Morpho operate on?
Morpho operates on 45 chains: Ethereum, Base, Robinhood Chain, Arc, and Arbitrum and 40 others. Ethereum holds the largest share at 45.8%.
How much has Morpho generated in fees and revenue?
Over the past 30 days, Morpho generated $26.1m in fees. Of that, $0 was protocol revenue. Based on the trailing year, the annualized rate is $206.72m in fees.
What is the MORPHO token price and valuation?
MORPHO is currently trading at $2.11. Its circulating market capitalization is $1.485b, ranking it #75. Its fully diluted valuation is $2.111b. Supply currently stands at 703.59m circulating, 1b total supply, 1b maximum supply.
How has MORPHO performed recently?
MORPHO is down 3.8% over the past 7 days and down 22.8% over the past 30 days. Its all-time high is $4.17, reached on Jan 17, 2025. The token is currently 49.4% below that level.
How does Morpho's TVL compare to similar protocols?
Among Lending protocols tracked by DefiLlama, Morpho ranks #2 by TVL. The category holds $49.69b across 520 protocols, and Morpho accounts for 22.4% of that total. Similar protocols include Aave V3, Avalon Finance, Euler V2, Ajna V2, PWN, Gearbox, LayerBank, Impermax V2, Tarot, and Compound V3.
How much has been borrowed through Morpho?
As of Nov 6, 2026, Morpho has $5.775b in active loans.
Does Morpho have a treasury?
Morpho has a tracked treasury currently valued at $28.41m. Its holdings include $99.86 in stablecoins, $67.07 in major assets, $28.41m in its own tokens, $1,184 in other assets.