Short answer

Aave locks about $17.2 billion and earns roughly $2.5 million in fees each day, while Morpho locks about $11.6 billion and earns about $0.9 million. Morpho is available on more than double the number of chains, but Aave has a larger market cap.

Size and money locked

Aave’s TVL stands at roughly $17.2 billion, making it the larger of the two. Morpho’s TVL is around $11.6 billion, still substantial but noticeably smaller. Aave’s market cap is about $2.0 billion, whereas Morpho’s market cap is not listed.

Activity and fees

Aave users paid about $2.5 million in fees over the last 24 hours, indicating strong activity and revenue. Morpho’s daily fees are about $0.9 million, reflecting lower but still significant usage. Over the past week Aave’s TVL fell by roughly 2.1 % while Morpho’s grew by about 2.5 %.

Networks and reach

Aave operates on 23 chains, covering major networks such as Ethereum, Base and Polygon. Morpho spans 45 chains, including newer ecosystems like Robinhood Chain and Hyperliquid, giving it a broader geographic footprint.

Who each one suits

Aave is suited for users who prioritize deep liquidity and are comfortable with a larger, more established platform that generates higher fees. Morpho appeals to developers and borrowers who value flexibility across many chains and a platform that is actively expanding its TVL.