Morpho Association raised $175 million on June 9, marking its largest DeFi funding round to date. The MORPHO token traded higher while most of the crypto market was gripped by extreme fear, with the Fear & Greed Index dropping to 14.
Spot trading volume jumped 71.44% to $35.9 million, showing that real money was behind the move, not just a brief bounce. MORPHO price rose as much as 8.5% to $1.93 from a session low of $1.78.
The raise was led by Paradigm, a16z crypto, and Ribbit Capital, with Apollo, VanEck, Circle Ventures, Ledger, Cathay Innovation, Variant, WMT, Prelude, IOSG, HashKey, SBI, Bpifrance, Mirana, NJJ Capital, and others filling out the book.
Investors bought MORPHO at the monthly average price, valuing the protocol at up to $2 billion. CEO Paul Frambot, now 25, started Morpho at age 20 with co-founders Merlin Egalite, Julien Thomas, and Mathis Gontier Delaunay. He described the new funding as fuel to bring a $200 trillion credit market onto the blockchain.
Morpho already has over $11 billion in deposits and is integrated with platforms like Coinbase, Binance, Kraken, Fireblocks, SG Forge, Bitwise, Anchorage Digital, and Galaxy Digital.
Morpho’s fundamentals are improving, partly at Aave’s expense. Morpho now has $6.6 billion in deposits, catching up to Aave’s $12.5 billion. The gap narrowed after Aave was hit hard by a $290 million hack in April, while Morpho was only slightly affected.
MORPHO Price Holds Support but Stalls Under a Wall of Resistance
MORPHO token was last priced at $1.90, and the daily price stayed close to its opening level, with most of the 24-hour gain coming from the previous session’s spike.
The Morpho coin price is holding above Supertrend support at $1.8242, with support from the session low of $1.7856. However, it remains stuck below strong resistance. The first challenge is the $1.99-$2.00 range, where the VWMA(20) at $1.9904 and the Ichimoku base at $1.9998 meet.
Above this range is a key level: Supertrend resistance around $2.10. The price needs a strong daily close above this point to turn the trend bullish and trigger a breakout.
The moving averages show why the price is stuck. Short-term averages, such as EMA(10) at $1.8562 and SMA(10) at $1.8250, are below the current price, suggesting buying.
The 20-to-50 range ($1.90–$1.98) signals selling and limits rallies, while long-term averages still suggest buying, so the overall uptrend remains, even with short-term resistance. The RSI is at 48.90, which is neutral and shows there is still room for the price to rise before it becomes overbought.
Now, the main question for MORPHO coin is whether the recent funding will push the price above $2.0949, or if resistance will stop it again.
