Coinbase Bitcoin-Backed Loans Exceed $2.17 Billion via Morpho on Base

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Jun 25 2026

MORPHO+1.393%

DEFI-0.030000001%

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Milestone Achievement: Coinbase users have borrowed over $2.17 billion against Bitcoin through Morpho, with more than 80,000 participants, marking Bitcoin-backed borrowing as a major DeFi credit product and enhancing Coinbase's competitive edge in the crypto market.
Collateral Innovation: Over $1.4 billion in Bitcoin has been collateralized for borrowing, allowing users to borrow USDC without selling their Bitcoin, thereby increasing liquidity and investment flexibility for users.
Infrastructure Advantage: Base provides the infrastructure for lending markets, enabling Coinbase to integrate on-chain credit within a familiar account experience, simplifying the borrowing process and lowering the user entry barrier.
Expansion Potential: Coinbase's lending product is not limited to Bitcoin, as it recently added Solana-backed loans, with total borrowings exceeding $2.3 billion, demonstrating Morpho's capacity for expansion across various assets and market demand.

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Technical Analysis for MORPHO

Technical Sentiment Analysis for Morpho (MORPHO). As of , Morpho (MORPHO) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 3 indicators are flashing buy, while 0 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MORPHO stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, MORPHO is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Morpho (MORPHO) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	1.04	1.332	1.623	1.915	2.206	2.498	2.789
Fibonacci	1.332	1.554	1.692	1.915	2.137	2.275	2.498

About MORPHO

Morpho is an open, efficient, and resilient platform that allows anyone to earn yield and borrow assets. Lenders can earn on Morpho using Morpho Vaults, noncustodial simple to use lending vaults that optimize yields for depositors. Borrowers can borrow any assets directly from Morpho Markets.At the same time, developers or businesses can create markets, curate vaults, and build a range of applications on its flexible, permissionless infrastructure.Morpho is really trustless, with immutable contracts, and governance minimized operations allowed by its simplicity. Morpho is efficient, it provides higher collateralization factors with its isolated lending markets, Improved interest rates and low gas consumption. Morpho is flexible with its permissionless market creation, permissionless risk management and has been designed to be developer-friendly.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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