Morpho Token Eyes 60% Rally as DeFi Metrics Hit Record Highs
Morpho token has surged over 245% from its March low, climbing to $2.85 and a market cap of $867 million. Robust platform metrics underlie this rally: total deposits topped $10 billion, issued loans exceeded $3.6 billion and TVL reached a record $7 billion, up from $2.5 billion in April. Growth accelerated after Morpho’s Coinbase integration and the launch of The Base App, expanding user access. Technical indicators reinforce further upside: price has cleared key resistance at $2.25, trades above the 50-day EMA and displays bullish Supertrend and oscillator readings. Analysts project a potential 60% gain to the $4.17 year-to-date high, underlining a bullish outlook for Morpho within the DeFi lending sector.
Bullish
Morpho’s explosive on-chain metrics and robust technical signals support a bullish market stance. Record deposits ($10 B), loans ($3.6 B) and TVL ($7 B) demonstrate strong user demand, while Coinbase integration and The Base App roll-out have expanded its addressable market. Technicals—price clearing the $2.25 resistance, trading above the 50-day EMA and positive Supertrend/oscillator readings—parallel past DeFi rallies following major exchange listings (e.g., AAVE’s surge post-Binance listing). In the short term, momentum drivers could push price toward the $4.17 YTD high; longer-term, sustained protocol usage and lending growth may underpin further appreciation.