Standard Chartered Covers Morpho Sets $60 Target by 2030

The cryptocurrency Morpho surged on Wednesday after Standard Chartered Bank initiated coverage of the token with a long-term price target of $60 by the end of 2030. The bank's analysts cited the protocol's dual role as a decentralized lending platform and on-chain infrastructure provider as key to capturing growth from an expected expansion in tokenized finance.

Morpho's token, MORPHO, rose approximately 12% on the day, trading above $2. The bank's forecast implies a potential upside of roughly 30 times from that level. In a note to clients, Geoff Kendrick, Standard Chartered's Global Head of Digital Assets Research, outlined a multi-year path for the token, projecting it to reach $3.50 in 2026, $11 in 2027, $22 in 2028, $40 in 2029, and finally $60 by the close of the decade. The bank stated this trajectory would see Morpho outperform both Bitcoin and Ethereum over the same period.

The optimistic outlook is anchored on the bank's projection that the total value of assets deployed across decentralized finance (DeFi) will grow 37-fold by 2030. Analysts believe Morpho is uniquely positioned to scale alongside this expansion due to its two core businesses: Morpho Markets, a lending...