Morpho Accounts for $3 Billion of $4.8 Billion DeFi Stablecoin TVL Rise

The dollar value of stablecoins locked in DeFi protocols climbed $4.8 billion over 90 days. Morpho contributed $3 billion, equal to 62.5% of the increase. Total value locked (TVL) measures the dollar value of assets held in DeFi contracts. A change in TVL does not by itself show net deposits, withdrawals or trading activity; the limits of the measure also matter when interpreting the increase. Total stablecoin supply rose $2 billion in the third quarter to $311.6 billion.