Morpho (MORPHO), the governance token of the decentralized lending protocol, has surged 22.2% in the past 24 hours to reach $1.93, marking one of the strongest performances among top-100 cryptocurrencies today.
The token reached an intraday high of $1.96 before pulling back slightly, representing a substantial recovery from its 24-hour low of $1.58. Trading volume has spiked to $56.8 million as investors pile into the DeFi protocol token.
Market Cap Jumps $124.6 Million
Morpho’s market capitalization has increased by $124.6 million in 24 hours, rising 22.2% to $686.7 million. This surge pushes MORPHO to rank #86 among all cryptocurrencies by market cap, with a fully diluted valuation of $1.93 billion.
The token has 356.7 million MORPHO in circulation out of a maximum supply of 1 billion tokens, meaning approximately 35.7% of total supply is currently circulating.
Extended Rally Continues
Today’s surge extends an impressive multi-week rally for Morpho. The token has gained 32.3% over the past seven days and is up 55.9% over the past 30 days, significantly outperforming broader cryptocurrency markets.
Despite these gains, MORPHO remains 53.8% below its all-time high of $4.17 reached on January 17, 2025. However, the token has surged 170.5% from its all-time low of $0.71 recorded on November 25, 2024.
What is Morpho?
Morpho is a decentralized lending protocol that operates as an optimized layer on top of existing DeFi lending platforms like Aave and Compound. The protocol aims to improve capital efficiency for lenders and borrowers by matching users peer-to-peer while maintaining the same liquidity guarantees as underlying protocols.
The MORPHO token serves as the governance token for the protocol, allowing holders to vote on protocol parameters, risk management decisions, and treasury allocations.
What’s Driving the Surge?
While no specific catalyst has been officially announced, the surge in trading volume to $56.8 million—representing approximately 8.3% of market cap traded in 24 hours—suggests strong institutional or whale accumulation.
The broader DeFi sector has seen renewed interest in February 2026 as total value locked across protocols has increased, potentially benefiting lending protocols like Morpho.
This is a developing story. Market data current as of February 25, 2026, 15:07 UTC.
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About the Author: Ananya Melhotra
