What is the current price of Morpho?
The current price of Morpho is $2.40 with a 3.69% change in the last 24 hours.
Supply and ATH/ATL data provided by CoinGecko
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Prices and notionals are USD-equivalent venue units, with USDC collateral. No currency conversion is applied. Notional = venue price × base-asset size. Contract specifications
Derivatives and mapped ecosystem data, with source timings and coverage.
Morpho is an open lending network on Ethereum and other EVM chains, and MORPHO is its governance token. Rather than one large shared pool, it lets anyone create an isolated market pairing exactly one collateral asset with one loan asset, using five parameters fixed at creation. Above those markets sit vaults, curated by third parties, that allocate depositor funds across selected markets. The documentation frames Morpho as infrastructure others build lending features on.
Official resources:
Morpho was started in Paris in 2021 by a group of French founders, with Paul Frambot as chief executive alongside co-founders including Merlin Egalite and Mathis Gontier Delaunay. The first version was an optimiser layered on existing lending pools, and the Morpho Blue whitepaper of October 2023 set out the current design: a minimal immutable core with permissionless market creation and risk management pushed to vault curators. Intellectual property sits with the Morpho Association, a French nonprofit.
A variable rate market is defined by five parameters: collateral asset, loan asset, liquidation loan-to-value threshold, oracle contract and interest rate model. Once created these never change, and while creation is permissionless, the available LLTV values and rate models come from a governance-approved set. Anyone can liquidate a position above its threshold by repaying part of the debt for discounted collateral. Because a bare market requires the depositor to understand its risk, most lenders use vaults, where a curator sets which markets the vault may enter and what caps apply.
MORPHO is a governance token with voting power proportional to holdings, exercised through Snapshot, and its powers are narrow because the core contracts are immutable: control of the treasury, a fee switch capped at 25 percent of borrower interest, and whitelisting new LLTVs and rate models. Maximum supply is one billion, held as a wrapped vote-tracking token, and only the wrapped token is transferable.
Minimalism at the base layer. The core contract cannot be changed, so governance cannot alter the rules of an existing market or reprice risk for depositors, and everything mutable sits in vaults run by identifiable curators who compete on results.
Aave and Compound run large shared pools where governance votes decide listings and parameters, so depositors share exposure to every listed asset. Morpho isolates each pair, so a bad collateral choice damages only that market and the vaults that opted in, with risk selection handed to curators.
The core protocol is immutable and open source under GPL-3.0 on the morpho-org GitHub organisation, and has undergone extensive audit and formal verification. Immutability is itself a security property, since no admin key can change market parameters after creation, though each market's safety still depends on its own oracle and LLTV.
Morpho represents a structural shift in on-chain lending, from monolithic pools governed by token votes toward a minimal immutable base with a competitive risk-management layer above it. It now functions as infrastructure behind consumer products offering crypto-backed loans and yield.
MORPHO is listed on major centralised exchanges and trades on decentralised exchanges on Ethereum and Base, with further deployments on Arbitrum and Katana. Only the wrapped token is transferable, and the contract address differs per network, so confirm it against the official documentation first.
MORPHO is a standard ERC-20 and works with any EVM wallet, including MetaMask and Rabby, with Ledger or Trezor signing advisable for meaningful balances. Holders who want to govern can delegate or vote through Snapshot.
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Read the complete paper trading guideThe current price of Morpho is $2.40 with a 3.69% change in the last 24 hours.
The daily trading volume is $5,486,256 representing a 29.47% change in the past 24 hours.
The market capitalization of Morpho is $1,689,729,721, ranking #55 globally.
The fully diluted valuation (FDV) of Morpho is $2,404,857,709, calculated assuming the maximum supply of 1,000,000,000 MORPHO is in circulation.
Circulating: 702,631,891. Total: 1,000,000,000. Max: 1,000,000,000.
In the last 24 hours, Morpho traded between a low of $2.35 and a high of $2.52.
MORPHO/USDTTether USDT2.40 USDT
The Morpho vault lends against cbBTC collateral, but nearly all its assets remain idle rather than deployed into loans.
Apps can embed variable-rate stablecoin lending and crypto-backed loans, while borrowers remain subject to the underlying protocols’ liquidation rules.
About 97.4% of supplied USDC is borrowed in the main market, compared with 8.1% when Circle Mint opened access on Sept. 21.
The company says its stock tokens have reached 200,000 holders, while Morpho’s dashboard shows about $1.1 billion deposited on the network.
Ledger now lets hardware-wallet users pledge wrapped Bitcoin as collateral and borrow stablecoins directly in Ledger Wallet without selling.
Lido Lend targets a fourth-quarter launch, with collateral screening and reliable exits among its design goals. DAO votes and technical disclosures are still ahead.
