Morpho, a lending protocol on Circle's Arc network, has attracted over $500 million in deposits just two weeks after Arc's mainnet launch on September 16, 2026. Most activity centers on the cirBTC/USDC market, where Bitcoin-backed tokens are used as collateral for USDC loans, accounting for 86% of lending and borrowing. The deposits are primarily institutional, with top vaults managed by firms like Steakhouse Financial and Bitwise offering around 0.80% net APY. The high utilization of the cirBTC/USDC market suggests strong borrowing demand, which could push interest rates higher to attract more lenders. Future growth will be measured by whether deposits and loans increase beyond current levels and if activity diversifies into other stablecoins like EURC.
Morpho's milestone of over $500 million in deposits on Circle's Arc network provides context for digital asset activity. For readers following cryptocurrency markets, here is Pluang's snapshot as of Oct 02, 2026 21:51 WIB: out of 50 major cryptocurrencies, 38 rose and 11 fell today. Notably, AAVE gained 9.11% to Rp3.277.240 with a typical hold time of 105 days and a 60% buy order activity, while EOS increased 8.13% to Rp12.649 and AXS rose 7.84% to Rp22.123 with a shorter hold time of 62 days and a 62% sell order activity.
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