Morpho Blue
$11.25B +1.1%24hValue locked
- Value locked
- $11.25B
- 7 days
- +2.0%
- 30 days
- +4.3%
- Fees per day
- $767.3K7-day average
- Fees / value locked
- 2.5%annualised
- Chains
- 38
- MORPHO price
- $2.26−0.3% 24h
- Token market cap
- $1.59B
About Morpho Blue
Morpho Blue is a trustless and efficient lending primitive with permissionless market creation.
As of 23 Oct 2026, Morpho Blue holds $11.25B in value locked across 38 chains, which ranks it #2 in DeFi by value locked. 45% of that sits on Ethereum, its largest deployment. Among lending protocols it ranks #2 of 109 with 21.3% of the sector, between Aave V3 ($16.98B) and SparkLend ($5.08B). Its value locked is up 2.0% over seven days and up 4.3% over 30 days. Users paid an average of $767.3K a day in fees over the last seven days; a year at that pace would equal 2.5% of its value locked, against a sector median of 2.5%. The MORPHO token, shared by the 2 Morpho Blue products we track, is valued at $1.59B, 14% of their combined $11.31B in value locked.
Value locked by chain
Largest lending protocols
Full sector| # | Protocol | Chains | Value locked | 7d | Fees/day |
|---|---|---|---|---|---|
| 1 |  Aave V3 | Ethereum, Base +19 | $16.98B | 0.0% | $1.12M |
| 2 | Morpho Blue | Ethereum, Base +36 | $11.25B | +2.0% | $767.3K |
| 3 |  SparkLend | Ethereum, Gnosis | $5.08B | −1.8% | $234.4K |
| 4 |  JustLend V1 | Tron | $3.68B | −1.1% | $49.74K |
| 5 |  Maple | Ethereum | $2.67B | −3.2% | $295.3K |
| 6 | Hyperliquid Earn | Hyperliquid L1 | $1.43B | −2.4% | – |
| 7 |  Compound V3 | Ethereum, Arbitrum +8 | $1.40B | −0.3% | $97.53K |
| 8 |  Kamino Lend | Solana | $1.29B | −0.8% | $142.6K |
