The native token of the Morpho Protocol, MORPHO, has surged over 30% to reach a new all-time high as cryptocurrencies experienced notable gains on New Year's Eve. The token reached $3.61, setting a new high, with a 153% increase in trading volume. The total value locked on Morpho has reached $5.26 billion, with significant growth in TVL, daily fees, and monthly active users. The protocol has attracted institutional investors and recently raised $50 million in funding from prominent venture capital firms. However, the recent broker reporting rules by the U.S. Internal Revenue Service have caused concerns among DeFi supporters.



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