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Crypto and digital asset companies · United States

Moralis

moralis.io ↗

Moralis sells blockchain data APIs and node access to Web3 developers.

Little protection left
Assessed 21 July 2026 · Evidence as of 21 July 2026
Not much stands between this business and its pressures.
On the recordSince 21 July 2026 · Checkable from Q1 2027 · Every call on the record Checkpoint: Deadline passed for Cortex to Onchain Skills migration, watch for churn data and any Series B announcement
The call

Moralis is shrinking in headcount and traffic while AI agents and better funded rivals close in, with no new funding in four years to fight back.

Moralis builds APIs that help developers pull data from blockchains, competing directly with much larger rivals like Alchemy, QuickNode, and Infura. It is not hard to copy or replace because the bigger competitors have more money, more customers, and better brand recognition in developer communities, plus AI coding tools like Claude and Copilot can now do similar work automatically without needing Moralis at all (Moralis tried to compete here with its own AI product called Cortex but shut it down after less than a year). The one thing that could change the picture is if Moralis either finds new money from investors by early 2027, gets bought by a bigger company, or refocuses on a specific problem that larger rivals ignore, but with staff shrinking and traffic collapsing, none of these look likely right now.

Why
01
AI pressure: Claude Code, Cursor, GitHub Copilot and similar AI coding agents. AI coding agents now call raw RPC nodes directly via MCP, skipping the clean API layer Moralis charges for; its own Cortex product died within a year. Could AI do the core job? Yes, likely.
02
Bigger players: Alchemy, QuickNode, Coinbase Cloud, Infura. Better funded rivals with bigger developer mindshare compete for the same blockchain API customers, and Coinbase is both investor and competitor. Could a giant copy it? Yes, easily.
03
What protects it. A base of 150,000+ developers and enterprise data products like Datashare that could retain some paying accounts through the transition.
What would change this call
Moralis announces a Series B or acquisition by Q1 2027. Would indicate investor confidence and reverse the wind-down trajectory.
Headcount and web traffic figures reported in late 2026 or 2027. Continued decline would confirm shrinking demand and contraction.
Customer retention data or churn reports after the Cortex-to-Onchain-Skills migration deadline (June 2026). High churn would show the platform transition drove customers to rivals.
Key numbers
  • Headcount fell 93 to 62 employees (June 2026)
  • Web traffic dropped 41% quarter over quarter (June 2026)
  • No funding round since $40M Series A (May 2022)
Named risks
  • No funding round reported since May 2022 Series A, a roughly four-year gap. Severity: high
  • Headcount fell from 93 to 62 employees between Feb 2023 and June 2026. Severity: high
  • Web traffic dropped 41.1% quarter-over-quarter as of June 2026. Severity: high
  • Flagship AI product Cortex retired roughly 8 months after October 2025 launch. Severity: medium
  • Crowded blockchain API market with better-funded rivals Alchemy, QuickNode, Infura, Chainstack. Severity: medium
Rivals, as read in July 2026
RivalDirectionEvidence
Alchemylosing toAlchemy raised $200M at $10.2B valuation Feb 2024 (vendor-claimed) vs Moralis's no funding since May 2022
QuickNodelosing toCB Insights groups QuickNode among top Ethereum RPC providers alongside Moralis as of May 2026
InfuracontestingInfura, owned by Consensys (maker of MetaMask), competes directly in RPC/API infrastructure
Coinbase CloudcontestingCoinbase, a Moralis Series A investor since 2022, also runs competing Coinbase Cloud infrastructure
ChainstackcontestingChainstack named alongside Moralis in CB Insights' 2026 top Ethereum RPC provider grouping
Questions people ask
Is Moralis profitable in 2026?
No audited financials are public. Third-party estimates put Moralis revenue near $13M, unverified, while headcount fell from 93 to 62 employees between Feb 2023 and June 2026, a 12.7% YoY drop, suggesting cost pressure rather than profitable scaling.
Is Moralis laying off staff or shrinking?
Yes. Crustdata tracked headcount falling from about 93 employees in Feb 2023 to 91 in Oct 2024 to 62 by June 2026, a 12.7% year-over-year decline, alongside a 41.1% quarter-over-quarter drop in web traffic as of June 2026.
Could AI replace Moralis's product?
Possibly. Moralis's core job is turning raw blockchain calls into clean APIs, work AI coding agents can increasingly do directly. Moralis launched Cortex, an AI/MCP layer, around Oct 28 2025, then retired it June 4 2026, replacing it with Onchain Skills for agents like Claude Code and Cursor.
Who is Moralis's biggest competitor?
Alchemy is the most cited rival: it is far better capitalized, having raised $200M at a $10.2B valuation in Feb 2024 (vendor-claimed), and leads developer mindshare among blockchain API providers per CB Insights' 2026 grouping of Moralis with Infura, QuickNode, and Chainstack.
Who owns Moralis?
Moralis is privately held, founded in 2021 by Ivan Liljeqvist and Filip Martinsson and headquartered in Stockholm, Sweden. It raised an €11.5M seed led by EQT Ventures in 2021 and a $40M Series A on May 13 2022 including Coinbase Ventures and EQT Ventures.
Has Moralis raised a Series B?
No. As of mid-2026, Moralis had not publicly reported any funding round since its $40M Series A closed on May 13 2022, per Seedtable's June 2026 tracking, a roughly four-year funding gap versus better-capitalized rivals like Alchemy.
Timeline
  • 2026-06-15Crustdata reports 62 employees, -12.7% YoY headcount, -41.1% QoQ web traffic
  • 2026-06-04Cortex API retired, replaced by Onchain Skills for AI coding agents
  • 2026-05-12Onchain Skills documented, integrating with Claude Code, Cursor, Copilot, Codex, Gemini
  • 2026-03-04LinkedIn lists Moralis at 63 employees
  • 2025-11-04Moralis ships ElizaOS plugin for crypto AI agents
  • 2025-10-28Moralis launches Cortex, AI/MCP layer for blockchain data queries
  • 2024-10Headcount tracked at 91 employees (Crustdata)
  • 2023-02Headcount tracked at 93 employees (Crustdata)
  • 2022-05-13Moralis closes $40M Series A led by Coinbase Ventures and EQT Ventures
  • 2021Moralis founded by Ivan Liljeqvist and Filip Martinsson; raises €11.5M seed
Revision history
21 July 2026
First assessed. Little protection left. The text above is fixed as of this date and is not edited afterwards.
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