Data: DeFi total TVL fell 42% over the past year, while Morpho’s USDC deposits grew by 86% against the trend

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BlockBeats message, July 13, Token Terminal data shows that although the overall DeFi total value locked (TVL) over the past 365 days has cumulatively fallen by about 42%, the size of USDC deposits on the lending protocol Morpho has grown against the trend by about 86%, reaching about $2.8 billion.

Data shows that amid the slowdown in overall DeFi growth, funds are continuously flowing to on-chain lending protocols represented by Morpho, reflecting that market demand for USDC yield-bearing lending products is still growing.

MORPHO-1.31%
USDC0.06%
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