MORPHO is up 10.66% in the last 24 hours, trading around $2.04-$2.13 as of July 22, 2026. The token ranks #52 by market cap with a live market cap of $1,064,709,214 USD. Morpho's fixed-rate lending protocol, Midnight, exited beta on July 18, 2026, starting with a cautious rollout on Base. The launch begins with a single cbBTC/USDC market on Base, with participation limited to direct lenders and borrowers.