Morpho (MORPHO) gained 7.5% over the past 24 hours, defying a broader market pullback, after Morpho Association announced a $175 million funding round co-led by Paradigm, a16z crypto, and Ribbit.
The raise ranks among the largest in the history of decentralized finance (DeFi). It arrives as institutional demand for onchain lending infrastructure continues to build.
DeFi Lender Morpho Closes $175M Round Led by Paradigm
Morpho Association disclosed the round in a recent blog. Apollo Funds, Circle Ventures, VanEck, Ledger Cathay, Variant, Wintermute Ventures, SBI Group, Bpifrance, and more than 10 other partners also participated.
The protocol holds over $11 billion in deposits. Morpho is already used by leading crypto exchanges, including Coinbase, Kraken, and Binance, as well as by institutional clients Bitwise, Galaxy, and Anchorage Digital.
The financing marks Morpho Association’s fourth institutional raise since 2021. Earlier backers include Coinbase Ventures, Pantera Capital, and Variant. The association said the capital will deepen technical and commercial integrations with partners.
“The true value of finance has always been held back by dated infrastructure, fragmented systems, and extractive intermediaries. We started Morpho to change that. We’re building the open credit network for the world, connecting those with excess capital to those who need financing, globally,” Paul Frambot, Cofounder of Morpho, said.
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MORPHO Bucks the Broader Downturn
The announcement gave MORPHO’s price a boost. The token’s rally stood out against weak market conditions.
MORPHO traded near $1.93 at press time, up 7.5% over the past 24 hours, while the total crypto market capitalization fell nearly 2%, according to BeInCrypto Markets.
Even so, the token remains down 5.7% over the past week and roughly 12% over the past month. It also sits 54% below its January 2025 all-time high of $4.17.
Whether institutional backing translates into sustained demand for the token may become clearer in the coming weeks.
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The post Morpho Token Defies Market Slide After $175M Paradigm-Led Funding Round appeared first on BeInCrypto.
