Key Takeaways:
- Standard Chartered initiated Morpho (MORPHO) coverage with a $60 price target
- The target implies roughly 30x upside from Morpho's current price near $2.05
- Morpho holds $9.8 billion in deposits as the No. 2 DeFi lending protocol
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Standard Chartered sets $60 Morpho target, sees 30x upside by 2030
Standard Chartered initiated coverage of Morpho (MORPHO) with a $60 price target for end-2030, implying roughly 30x upside from the token's current level near $2.05.
"Morpho is part on-chain bank, part infrastructure for on-chain banks and asset managers," Geoff Kendrick, head of digital assets research at Standard Chartered, said in the report.
Kendrick mapped a yearly path to the target, with MORPHO reaching $3.50 in 2026, $11 in 2027, $22 in 2028, $40 in 2029 and $60 in 2030. The token rose more than 10% on the day the report was published, according to CoinGecko data. Morpho ranks 57th by market value among cryptocurrencies.
The forecast hinges on Morpho building deep relationships with traditional finance institutions, a process Standard Chartered warned could arrive in lumps. The next few quarters will test how fast institutional money moves into the protocol.
Standard Chartered splits Morpho into two parts. Morpho Markets functions as a lending protocol similar to Aave, while Morpho Vaults acts as infrastructure for on-chain asset managers, or curators. The bank called the vaults business the key differentiator that can pull large TradFi funds on-chain.
Morpho is the second-largest DeFi lending protocol behind Aave. Together the two control 57 percent of deposits and 63 percent of active loans across lending protocols, according to DefiLlama data. Morpho holds about $9.8 billion in deposits today. Custody platforms including Fireblocks, Anchorage and Taurus have integrated its vaults into their systems.
The projection follows a run of long-dated forecasts from Standard Chartered. The bank issued a comparable 50x Aave price target weeks earlier and cut its Ethereum target last month. The bank expects DeFi assets to grow 37 times by 2030 and wants Morpho to scale with that flow.
Morpho Labs, the protocol's developer, recently closed a $175 million funding round that valued the company at $2 billion, providing a financial cushion for expansion.
The $60 target would see Morpho outperform both Bitcoin and Ethereum through 2030. Still, the bank warned that growth could arrive in uneven bursts, with institutional adoption timelines remaining uncertain.
This article is for informational purposes only and does not constitute investment advice.
