Onchain Lending Fees Plunge 50% as Morpho Bucks the Trend
· price · Sentiment: bullish
Onchain lending fees across major Bitcoin DeFi protocols have dropped approximately 50% in recent weeks, reflecting reduced borrowing demand and lower yields for lenders. Morpho has notably bucked this trend, maintaining stronger utilization and fee generation compared to competitors. The divergence highlights Morpho’s growing dominance in Bitcoin-backed lending, signaling increasing market preference for its efficient design amid an overall cooling in onchain leverage activity. This trend could pressure smaller lending platforms while reinforcing Morpho’s position as the leading Bitcoin DeFi yield venue.