Onchain Lending Fees Fall 50% Year Over Year as Morpho Bucks the Trend
- —Onchain lending fees fell 46% year over year in Q3 2026
- —Morpho earned $62 million in Q3 fees via its curator risk-manager model
- —Total blockchain revenue is projected at about $100 billion in 2026, down 30%
- —DeFi and financial apps account for roughly $65 billion, or 66% of industry revenue
Why it matters: Shrinking lending fees show capital shifting toward risk-managed structures rather than the largest protocols after major exploits.
Source: Bitcoin.com