morpho

According to on-chain analyst @ai_9684xtpa's monitoring, a certain ETH whale has built up their position again after five months, spending 4.82 million USDT to buy 1,951 ETH at a cost of $2,469.6, which has since been deposited into Morpho.

According to The Defiant, the decentralized lending protocol Morpho deployed its fixed-term, fixed-rate lending agreement Midnight to Ethereum on September 8, expanding the product from the Base network to Ethereum, allowing Ethereum users to access USDC loans collateralized by WBTC or cbBTC. Morpho co-founder Merlin Egalite stated that the Ethereum launch will start with the "USDC | cbBTC and USDC | WBTC markets" and will gradually expand.The core difference between Midnight and Morpho Blue lies in interest rate certainty. Blue uses open loans where interest rates fluctuate according to a formula; Midnight, on the other hand, trades credit units at market-priced rates with fixed terms, allowing borrowers to determine financing costs in advance, and lenders can lock in returns instead of bearing interest rate changes with each block. Midnight lenders purchase credit units at prices below the one-to-one redemption value at maturity.However, the largest potential source of funds for Midnight remains constrained. The Morpho Vaults, holding approximately $5 billion in deposits, can only allocate to the Morpho Blue market until the DAO enables the Midnight configuration. Morpho co-founder and CEO Paul Frambot stated that enabling the Vault configuration requires just one DAO transaction, but Vault activation is expected to be achieved in the fourth quarter. At launch, the total deposits in the Ethereum Midnight market were approximately $7.41 million, with outstanding loans of about $2.63 million.

Morpho co-founder and CEO Paul Frambot stated in a post on X that over the past six months, the team has received many opportunities to acquire cryptocurrency companies.He mentioned that Morpho rarely acquires companies for intellectual property or technology. If they want to build a certain capability, they prefer to hire the right talent and develop it end-to-end themselves, following their own engineering, auditing, and formal verification processes. Talent acquisition may be attractive, but the valuation will be purely based on a comparison of the cost of the talent acquired versus hiring an equivalent team.

Bitwise announced the launch of the Bitwise Premium RWA Vault (PAPY) on Morpho, in collaboration with the Agora stablecoin AUSD.Users can deposit AUSD into PAPY, and the vault will programmatically lend out the funds, secured by over-collateralized tokenized RWAs to generate on-chain lending yields.The collateral assets of PAPY include PST launched by Huma Finance, used for providing short-term cross-border payment financing to institutions; sUSDai launched by USDai, supported by AI computing GPU-related loans; and PRIME launched in collaboration with HastraFi and Figure, consisting of tokenized debt backed by high-quality residential equity.AUSD is fully backed by liquid assets such as short-term U.S. Treasury bonds, overnight and reverse repurchase agreements. Bitwise is responsible for screening the collateral acceptable for PAPY and setting programmatic risk parameters. The vault is now officially launched on Morpho.

According to CoinDesk, a price fluctuation of about 3% in tokens on the lending platform Morpho triggered approximately $36 million in liquidations. The incident was caused by a wallet that bought a large amount of the yield token YT-reUSD issued by Pendle, pushing the implied annual yield up to 20% before quickly selling it, resulting in a price drop of about 3% for the corresponding principal token PT-reUSD.Previously, some traders deposited PT-reUSD into Morpho, borrowed stablecoin USDC, and then bought more PT-reUSD in a circular operation, leaving less than 3% of liquidation buffer space for leveraged positions. Morpho uses oracle prices, taking the lower value between the average trading price of PT-reUSD over the past 15 minutes and a fixed path that gradually approaches $1 at maturity. Liquidation is triggered when the market price falls below this curve. Pendle stated that the price source configuration is correct and operates as designed.Steakhouse Financial, responsible for managing the related lending market, stated that its lenders in the treasury were unaffected, with no bad debts incurred, and the proceeds from the liquidation were sufficient to repay the loans. After withdrawing funds during the investigation, Steakhouse reinvested, and the underlying asset reUSD was unaffected.

Vaults.fyi released the report "2026 DeFi Custody Market Status," covering 856 vaults, 131 custodians, and 18 protocols, with a total locked value of approximately $11.29 billion. Over the past year, the TVL on the supply side of DeFi decreased by 41.8%, while the TVL of custody vaults grew by 39%, increasing market share from 5.24% to 12.51%. The top 5 custodians manage 69% of the funds, and the top 10 account for 79.1%. The leading landscape has changed dramatically, with Sentora and Concrete not making the list a year ago, now ranking second and fourth, respectively, while Usual dropped from fourth to thirty-fourth.Morpho ranks first among protocols with a custody TVL of 46.2%, with the remaining 53.8% distributed across the other 17 protocols. Bitcoin collateral accounts for 54.1% of Morpho's top 25 stablecoin vaults (approximately $3.71 billion). In terms of address concentration, weighted by TVL, a single address holds an average of 47% of vault shares, with the top ten addresses collectively controlling 74%. About 33% of the custody funds require a multi-step redemption process, with a 7-day annualized yield median of 4.82%, which is 98 basis points higher than instant redemption vaults.The report also points out that traditional financial institutions such as Société Générale, Apollo, and JPMorgan have begun to deploy custody vault strategies.

According to PeckShieldAlert monitoring, the wallet address 0x854e...690d purchased YT reUSD in the market, pushing the implied yield up to 20%, and then quickly sold off that position, triggering a liquidation of approximately $36.39 million in the PT reUSD circular position on Morpho.

The cryptocurrency trading platform Upbit announced that it will launch MORPHO (Morpho) on the Korean won (KRW) market at 18:00 on July 25, with the network supported being Ethereum.

UPBIT will launch KRW trading for Morpho (MORPHO) on July 25 at 18:00. Users are advised to confirm the network before depositing; the supported network is MORPHO-Ethereum.

Token Terminal data shows that despite a cumulative decline of about 42% in the overall total locked value (TVL) of DeFi over the past 365 days, the USDC deposit scale on the lending protocol Morpho has grown by about 86%, reaching approximately $2.8 billion.The data indicates that amidst the overall slowdown in DeFi growth, funds continue to flow into on-chain lending protocols represented by Morpho, reflecting that the market demand for USDC yield-bearing lending products remains strong.

Raydium announces the launch of the token MORPHO for trading.MORPHO is the ecological token of the on-chain credit protocol, which has now been integrated and deployed to the Solana ecosystem through Sunrise, and trading pairs are open on Raydium, allowing users to participate in related liquidity and trading activities on Solana.

According to on-chain analyst Yu Jin's monitoring, HYPE recently rebounded from $60 and has re-established itself above $70. A certain whale address withdrew 212,500 HYPE from Morpho one hour ago, worth approximately $15 million, and has since transferred all of it to Coinbase.

According to The Block, Standard Chartered Bank has initiated coverage on Morpho for the first time, setting a target price of $60 for its native token MORPHO by the end of 2030, representing a potential increase of approximately 2787%.Geoff Kendrick, Head of Global Digital Assets Research at Standard Chartered, provided annual forecasts in the report: $3.5 in 2026, $11 in 2027, $22 in 2028, $40 in 2029, and reaching $60 in 2030.The report noted that Morpho is the second-largest decentralized lending protocol after Aave, with current deposits in Morpho Markets of approximately $5.5 billion and a scale of about $4.3 billion in Morpho Vaults. Analysts believe that as the total assets in DeFi are expected to grow 37 times by 2030, Morpho is likely to benefit from this.Standard Chartered previously predicted that by 2030, the upside potential for UNI is approximately 34 times, and for AAVE, it is about 38 times.

On-chain data shows that assets under Coinbase have become the most important source of traffic for the decentralized lending protocol Morpho. USDC and cbBTC together account for 53% of total deposits on the Morpho platform, with Coinbase users contributing 83% of cbBTC deposits and 59% of USDC deposits. The lending side is also highly dependent on the Coinbase ecosystem. Of the $2.3 billion USDC loans on the Morpho platform, approximately $1.2 billion comes from Coinbase users using cbBTC as collateral, accounting for more than half.Analysts point out that a deep symbiotic relationship has formed between the two: Coinbase takes on the role of user acquisition and asset flow, while Morpho acts as the yield layer that brings these assets into on-chain operations. This case once again confirms that in the crypto industry, the moat of distribution channels is often stronger than the technology itself.

UPBIT will launch BTC and USDT trading for PEAQ and LIT at 15:00 on June 19, while trading for KMNO and MORPHO will start at 16:00 on June 19. Trading for GRAM, LDO, and PAXG will begin at 18:00 on June 19, and trading for OSMO and AMP will start at 19:00 on June 19. Users can pay attention to subsequent announcements for specific trading pair information.

According to The Block, cryptographic technology company Zama, DeFi lending protocol Morpho, and Steakhouse Financial announced a joint launch of the Steakhouse Confidential USDC Prime vault.It is reported that this is the first DeFi yield product for privacy stablecoins on Ethereum. This product allows users to directly deposit privacy token cUSDC, which has been fully homomorphically encrypted (FHE) by Zama, into the Morpho vault to earn yields.

Coinbase announced on Wednesday the launch of two on-chain USDC lending vaults on Morpho, with Steakhouse Financial serving as the risk curator, providing users with lending options at different risk levels for the first time. The Prime vault adopts a conservative strategy, using blue-chip crypto assets like BTC and ETH as collateral, with yields ranging from approximately 3.5% to 4%. The High Yield vault accepts a broader basket of collateral, including assets issued by Ethena, with an annualized yield of about 8.79% supported by Ethena's government bond-backed stablecoin USDtb.Morpho provides a non-custodial lending infrastructure, with Steakhouse Financial managing approximately $2.03 billion in Morpho vault TVL, leading the second place by about $1 billion. Coinbase's collaboration with Ethena predates the launch of these vaults, as Coinbase Ventures purchased ENA tokens on the open market in June as part of a broader distribution agreement.

Ethena's official announcement states that the first product launched in collaboration with Coinbase is now officially online, which is the stablecoin yield pool introduced by SteakhouseFi. This product operates based on USDe on Morpho and is now directly available in the Coinbase App, accessible to users in the United States and overseas.