# \[Anthias Labs\] Weekly Market Updates **URL:** \ **Category:** Updates\ **Created:** [July 4, 2025, 10:36pm UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772 "2025-07-04T22:36:48Z")\ **Posts on this page:** 20\ **Page:** 3
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [November 20, 2025, 3:37pm UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/41 "2025-11-20T15:37:51Z")
# Weekly Update (11/14/25 - 11/20/25) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, and Moonbeam. Data from 11/14/25 to 11/20/25. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | EURC | 21.00M | 21.90M | 6.83% | 7.45% | 88.01% | | USDC | 184.00M | 200.00M | 16.90% | 18.60% | 83.62% | | USDS | 690.00K | 750.00K | 1.18% | 1.35% | 81.33% | | VIRTUAL | 10.00K | 4.50M | 19.40K% | 65.00% | 67.74% | | DAI | 300.00K | 400.00K | 4.70% | 5.55% | 63.45% | | cbXRP | 1.60M | 5.00M | 87.34% | 45.49% | 61.46% | | WETH | 64.00K | 96.00K | 7.65% | 8.40% | 60.66% | | LBTC | 10.00 | 95.00 | 59.91% | 28.00% | 22.62% | | AERO | 25.00M | 70.00M | 16.34% | 25.88% | 22.60% | | MAMO | 3.00M | 20.00M | 12.92% | 10.89% | 17.93% | | tBTC | 5.00 | 90.00 | 13.55% | 4.98% | 14.96% | | USDbC | 1.00 | 1.00 | 108.49K% | 855.96K% | 12.67% | | cbBTC | 640.00 | 1.50K | 7.37% | 25.00% | 12.60% | | weETH | 200.00 | 5.40K | 6.83% | 2.21% | 11.46% | | WELL | 10.00M | 250.00M | 167.47% | 73.38% | 9.13% | | cbETH | 6.40K | 16.00K | 1.55% | 9.86% | 6.28% | | MORPHO | 100.00K | 6.00M | 252.62% | 89.92% | 4.68% | | wstETH | 4.80K | 14.40K | 3.25% | 26.30% | 4.13% | | rETH | 200.00 | 2.60K | 11.06% | 31.97% | 2.66% | | wrsETH | 0.00 | 1.00 | 0.00% | 9.38K% | 0.02% | ![Screenshot 2025-11-21 at 12.32.04 AM](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/d/dd0f63dc961ea8d49e4689a95e25813fc16da0d4.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | EURC | -5% from 1.46M EURC to 1.39M EURC | -4% from 1.63M EURC to 1.56M EURC | -0% from 89.37% to 89.10% | | USDC | -8% from 32.65M USDC to 29.97M USDC | -6% from 39.87M USDC to 37.38M USDC | -2% from 81.91% to 80.18% | | USDS | -38% from 12.28K USDS to 7.57K USDS | -38% from 13.62K USDS to 8.48K USDS | -1% from 90.15% to 89.32% | | VIRTUAL | +1% from 1.92M VIRTUAL to 1.95M VIRTUAL | +39% from 2.32M VIRTUAL to 3.23M VIRTUAL | -27% from 82.86% to 60.14% | | DAI | +3% from 13.77K DAI to 14.16K DAI | +0% from 22.16K DAI to 22.24K DAI | +3% from 62.11% to 63.70% | | cbXRP | -2% from 1.42M cbXRP to 1.39M cbXRP | +2% from 2.20M cbXRP to 2.25M cbXRP | -4% from 64.73% to 61.92% | | WETH | +22% from 4.69K WETH to 5.72K WETH | +11% from 8.02K WETH to 8.94K WETH | +10% from 58.40% to 63.96% | | LBTC | +21% from 5.00 LBTC to 6.06 LBTC | +19% from 23.69 LBTC to 28.24 LBTC | +2% from 21.10% to 21.46% | | AERO | +3% from 4.03M AERO to 4.16M AERO | +13% from 16.67M AERO to 18.86M AERO | -9% from 24.17% to 22.07% | | MAMO | +29% from 344.77K MAMO to 445.84K MAMO | +36% from 1.63M MAMO to 2.22M MAMO | -5% from 21.16% to 20.13% | | tBTC | +28% from 0.78 tBTC to 1.00 tBTC | +29% from 4.30 tBTC to 5.55 tBTC | -1% from 18.06% to 17.93% | | USDbC | -0% from 1.09K USDbC to 1.08K USDbC | -1% from 8.58K USDbC to 8.47K USDbC | +1% from 12.65% to 12.79% | | cbBTC | +1% from 51.51 cbBTC to 52.10 cbBTC | -7% from 397.86 cbBTC to 371.18 cbBTC | +8% from 12.95% to 14.04% | | weETH | +1% from 13.80 weETH to 13.98 weETH | -2% from 121.14 weETH to 118.90 weETH | +3% from 11.39% to 11.76% | | WELL | -3% from 17.14M WELL to 16.60M WELL | +10% from 170.02M WELL to 186.21M WELL | -12% from 10.08% to 8.91% | | cbETH | +1% from 98.75 cbETH to 99.85 cbETH | +6% from 1.55K cbETH to 1.65K cbETH | -5% from 6.36% to 6.07% | | MORPHO | -1% from 254.08K MORPHO to 252.51K MORPHO | -1% from 5.40M MORPHO to 5.37M MORPHO | -0% from 4.70% to 4.70% | | wstETH | +0% from 155.38 wstETH to 155.47 wstETH | +2% from 3.73K wstETH to 3.82K wstETH | -2% from 4.17% to 4.07% | | rETH | +0% from 22.13 rETH to 22.13 rETH | +0% from 831.70 rETH to 832.16 rETH | -0% from 2.66% to 2.66% | | wrsETH | 0% from 0.02 wrsETH to 0.02 wrsETH | -5% from 98.12 wrsETH to 93.12 wrsETH | +5% from 0.02% to 0.02% | ### Notable Trends - WETH borrows +22% (4.69K → 5.72K WETH) - WETH supply +11% (8.02K → 8.94K WETH) - AERO supply +13% (16.67M → 18.86M AERO) ### Liquidations - **Total liquidations:** 234 - **Total Collateral Seized (USD):** $467,640.38 - **Total Debt Repaid (USD):** $425,127.62 - **Total Liquidation Bonus (USD):** $42,512.76 - **Total Liquidator Bonus (USD):** $29,758.93 - **Total Protocol Bonus (USD):** $12,753.83 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | cbBTC | 4.197260 | $387,807.45 | $352,552.23 | $35,255.22 | $24,678.66 | $10,576.57 | 48 | | WETH | 16.137979 | $46,903.95 | $42,639.95 | $4,264.00 | $2,984.80 | $1,279.20 | 114 | | AERO | 21,120.891109 | $18,067.89 | $16,425.35 | $1,642.54 | $1,149.77 | $492.76 | 27 | | WELL | 844,752.671000 | $7,631.33 | $6,937.58 | $693.76 | $485.63 | $208.13 | 14 | | rETH | 0.920089 | $3,327.16 | $3,024.69 | $302.47 | $211.73 | $90.74 | 2 | | VIRTUAL | 2,178.719200 | $2,333.81 | $2,121.65 | $212.16 | $148.52 | $63.65 | 3 | | cbXRP | 229.394000 | $489.18 | $444.71 | $44.47 | $31.13 | $13.34 | 1 | | cbETH | 0.119827 | $389.66 | $354.23 | $35.42 | $24.80 | $10.63 | 4 | | MAMO | 10,767.300000 | $342.88 | $311.71 | $31.17 | $21.82 | $9.35 | 1 | | LBTC | 0.001799 | $170.64 | $155.12 | $15.51 | $10.86 | $4.65 | 4 | | USDC | 133.810300 | $133.79 | $121.63 | $12.16 | $8.51 | $3.65 | 10 | | weETH | 0.009958 | $33.43 | $30.39 | $3.04 | $2.13 | $0.91 | 1 | | wstETH | 0.002182 | $7.81 | $7.10 | $0.71 | $0.50 | $0.21 | 2 | | USDS | 1.304890 | $1.30 | $1.19 | $0.12 | $0.08 | $0.04 | 1 | | EURC | 0.086366 | $0.10 | $0.09 | $0.01 | $0.01 | $0.00 | 2 | ![Screenshot 2025-11-21 at 12.33.56 AM](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/7/7b981a347efe18116a6a3408aaea76d34df95e2b.png) ## OP Mainnet | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | USDT0 | 8.00M | 10.00M | 1.27% | 1.26% | 80.95% | | WETH | 30.00K | 32.00K | 7.01% | 8.63% | 76.17% | | DAI | 4.50M | 4.80M | 0.88% | 1.29% | 64.02% | | WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 61.62% | | USDT | 18.40M | 22.60M | 0.56% | 0.75% | 60.57% | | USDC | 34.00M | 36.40M | 2.08% | 3.28% | 58.84% | | cbETH | 0.00 | 10.00 | 0.00% | 2.65% | 37.73% | | VELO | 20.00M | 80.00M | 43.38% | 53.96% | 20.09% | | OP | 650.00K | 5.60M | 27.93% | 16.30% | 19.86% | | rETH | 340.00 | 750.00 | 1.10% | 3.95% | 13.12% | | wstETH | 1.50K | 5.00K | 0.91% | 2.95% | 9.26% | | weETH | 220.00 | 1.20K | 0.83% | 4.35% | 3.49% | | wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.61% | ![Screenshot 2025-11-21 at 12.32.18 AM](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/8/8b47347f58bc368dd8fcf2881a96cae1b9b573a3.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | USDT0 | -4% from 103.55K USDT0 to 99.71K USDT0 | -6% from 130.02K USDT0 to 121.70K USDT0 | +3% from 79.64% to 81.93% | | WETH | -11% from 2.20K WETH to 1.97K WETH | -12% from 2.95K WETH to 2.59K WETH | +2% from 74.70% to 76.05% | | DAI | -0% from 39.55K DAI to 39.48K DAI | -4% from 62.33K DAI to 59.72K DAI | +4% from 63.45% to 66.10% | | WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.01 WBTC to 0.01 WBTC | 0% from 61.62% to 61.62% | | USDT | -6% from 104.82K USDT to 98.63K USDT | -4% from 174.18K USDT to 166.60K USDT | -2% from 60.18% to 59.20% | | USDC | -38% from 1.04M USDC to 638.63K USDC | -20% from 1.48M USDC to 1.19M USDC | -23% from 70.09% to 53.63% | | cbETH | 0% from 0.10 cbETH to 0.10 cbETH | 0% from 0.27 cbETH to 0.27 cbETH | 0% from 37.73% to 37.73% | | VELO | +7% from 9.35M VELO to 10.00M VELO | +4% from 43.04M VELO to 44.96M VELO | +2% from 21.73% to 22.23% | | OP | **+66% from 121.51K OP to 201.61K OP** | +0% from 899.37K OP to 903.13K OP | **+65% from 13.51% to 22.32%** | | rETH | -9% from 3.76 rETH to 3.40 rETH | **-42% from 46.74 rETH to 26.97 rETH** | **+57% from 8.05% to 12.62%** | | wstETH | **+62% from 9.19 wstETH to 14.90 wstETH** | +6% from 139.85 wstETH to 147.88 wstETH | **+53% from 6.57% to 10.07%** | | weETH | -0% from 1.82 weETH to 1.82 weETH | -6% from 52.69 weETH to 49.32 weETH | +7% from 3.46% to 3.69% | | wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | 0% from 17.19 wrsETH to 17.19 wrsETH | 0% from 1.61% to 1.61% | ### Notable Trends - WETH supply -12% (2.95K → 2.59K WETH) - USDC borrows -38% (1.04M → 638.63K USDC) - USDC supply -20% (1.48M → 1.19M USDC) - rETH supply -42% (46.74 → 26.97 rETH\*\*) ### Liquidations - **Total liquidations:** 7 - **Total Collateral Seized (USD):** $503.23 - **Total Debt Repaid (USD):** $457.48 - **Total Liquidation Bonus (USD):** $45.75 - **Total Liquidator Bonus (USD):** $32.02 - **Total Protocol Bonus (USD):** $13.72 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | weETH | 0.053708 | $176.87 | $160.79 | $16.08 | $11.26 | $4.82 | 1 | | wstETH | 0.043212 | $156.09 | $141.90 | $14.19 | $9.93 | $4.26 | 2 | | OP | 331.166000 | $117.78 | $107.07 | $10.71 | $7.49 | $3.21 | 1 | | rETH | 0.012672 | $43.11 | $39.19 | $3.92 | $2.74 | $1.18 | 1 | | WETH | 0.003245 | $9.39 | $8.54 | $0.85 | $0.60 | $0.26 | 2 | ## Moonbeam | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | GLMR | 0.10 | 7721.92M% | 69.10% | | xcDOT | 0.10 | 19.81M% | 47.69% | | FRAX | 0.10 | 238.24K% | 46.68% | | xcUSDC | 0.10 | 27.29M% | 44.84% | | xcUSDT | 0.10 | 25.08M% | 30.63% | | USDC.wh | 0.10 | 22.62M% | 22.73% | | BTC.wh | 0.10 | 94.55% | 7.96% | | ETH.wh | 0.10 | 1.10K% | 3.52% | ![Screenshot 2025-11-21 at 12.32.35 AM](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/4/4c09172641ae0e337d291d9cab555ee63ec21737.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | GLMR | +1% from 7.66M GLMR to 7.78M GLMR | -2% from 11.59M GLMR to 11.31M GLMR | +4% from 66.14% to 68.76% | | xcDOT | +0% from 19.81K xcDOT to 19.82K xcDOT | -0% from 1.12M xcDOT to 1.12M xcDOT | +0% from 47.67% to 47.68% | | FRAX | 0% from 238.24 FRAX to 238.24 FRAX | 0% from 38.77K FRAX to 38.77K FRAX | 0% from 46.68% to 46.68% | | xcUSDC | -2% from 27.64K xcUSDC to 27.16K xcUSDC | +2% from 59.57K xcUSDC to 60.59K xcUSDC | -3% from 46.40% to 44.82% | | xcUSDT | -1% from 25.23K xcUSDT to 25.07K xcUSDT | -11% from 90.84K xcUSDT to 80.85K xcUSDT | +12% from 27.78% to 31.01% | | USDC.wh | -1% from 22.72K USDC.wh to 22.48K USDC.wh | +0% from 99.52K USDC.wh to 99.56K USDC.wh | -1% from 22.83% to 22.59% | | BTC.wh | +0% from 0.09 BTC.wh to 0.09 BTC.wh | +0% from 1.19 BTC.wh to 1.19 BTC.wh | +0% from 7.95% to 7.96% | | ETH.wh | 0% from 1.10 ETH.wh to 1.10 ETH.wh | 0% from 31.10 ETH.wh to 31.10 ETH.wh | 0% from 3.52% to 3.52% | ### Liquidations - **Total liquidations:** 13 - **Total Collateral Seized (USD):** $153.40 - **Total Debt Repaid (USD):** $139.46 - **Total Liquidation Bonus (USD):** $13.95 - **Total Liquidator Bonus (USD):** $9.76 - **Total Protocol Bonus (USD):** $4.18 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | GLMR | 4,073.370070 | $119.62 | $108.75 | $10.87 | $7.61 | $3.26 | 11 | | xcUSDC | 22.749500 | $22.76 | $20.69 | $2.07 | $1.45 | $0.62 | 1 | | xcDOT | 4.235150 | $11.02 | $10.02 | $1.00 | $0.70 | $0.30 | 1 | ---
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [November 27, 2025, 5:03pm UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/42 "2025-11-27T17:03:06Z")
# Weekly Update (11/21/25 - 11/27/25) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, and Moonbeam. Data from 11/21/25 to 11/27/25. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | USDS | 690.00K | 750.00K | 1.01% | 1.11% | 83.68% | | USDC | 184.00M | 200.00M | 15.66% | 17.61% | 81.94% | | EURC | 21.00M | 21.90M | 6.32% | 7.66% | 79.39% | | WETH | 64.00K | 96.00K | 9.65% | 9.86% | 65.20% | | VIRTUAL | 10.00K | 4.50M | 19.50K% | 70.87% | 61.13% | | DAI | 300.00K | 400.00K | 4.43% | 5.58% | 59.57% | | cbXRP | 1.60M | 5.00M | 88.74% | 50.16% | 56.75% | | LBTC | 10.00 | 95.00 | 59.58% | 28.85% | 21.74% | | AERO | 25.00M | 70.00M | 16.91% | 28.87% | 20.92% | | tBTC | 5.00 | 90.00 | 20.09% | 6.17% | 18.09% | | MAMO | 3.00M | 20.00M | 12.35% | 10.40% | 17.80% | | cbBTC | 640.00 | 1.50K | 8.58% | 23.55% | 15.54% | | weETH | 200.00 | 5.40K | 7.01% | 1.96% | 14.12% | | USDbC | 1.00 | 1.00 | 107.99K% | 847.49K% | 12.74% | | WELL | 10.00M | 250.00M | 157.78% | 78.01% | 8.09% | | cbETH | 6.40K | 16.00K | 1.54% | 8.72% | 7.10% | | MORPHO | 100.00K | 6.00M | 250.12% | 89.72% | 4.65% | | wstETH | 4.80K | 14.40K | 3.26% | 26.50% | 4.10% | | rETH | 200.00 | 2.60K | 10.54% | 32.00% | 2.53% | | wrsETH | 0.00 | 1.00 | 0.00% | 9.28K% | 0.02% | ![w1](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/5/54042d930482dd93fdc82b3310cff0351bf03110.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | USDS | -7% from 7.50K USDS to 6.99K USDS | -5% from 8.48K USDS to 8.05K USDS | -2% from 88.43% to 86.94% | | USDC | +1% from 29.05M USDC to 29.21M USDC | -2% from 37.64M USDC to 36.80M USDC | +3% from 77.17% to 79.37% | | EURC | -6% from 1.39M EURC to 1.31M EURC | +11% from 1.56M EURC to 1.73M EURC | -15% from 88.84% to 75.85% | | WETH | +13% from 5.73K WETH to 6.50K WETH | +13% from 8.90K WETH to 10.02K WETH | +1% from 64.40% to 64.92% | | VIRTUAL | +0% from 1.95M VIRTUAL to 1.95M VIRTUAL | -2% from 3.23M VIRTUAL to 3.17M VIRTUAL | +2% from 60.29% to 61.60% | | DAI | -11% from 14.17K DAI to 12.57K DAI | +0% from 22.24K DAI to 22.32K DAI | -12% from 63.69% to 56.31% | | cbXRP | -0% from 1.39M cbXRP to 1.39M cbXRP | +19% from 2.24M cbXRP to 2.67M cbXRP | -16% from 61.95% to 51.98% | | LBTC | -3% from 6.06 LBTC to 5.87 LBTC | -3% from 28.24 LBTC to 27.30 LBTC | +0% from 21.45% to 21.51% | | AERO | +6% from 4.14M AERO to 4.41M AERO | +11% from 18.68M AERO to 20.76M AERO | -4% from 22.19% to 21.23% | | tBTC | +14% from 1.00 tBTC to 1.13 tBTC | +0% from 5.55 tBTC to 5.56 tBTC | +14% from 17.93% to 20.41% | | MAMO | -10% from 472.90K MAMO to 427.48K MAMO | -8% from 2.22M MAMO to 2.04M MAMO | -2% from 21.35% to 20.95% | | cbBTC | +8% from 52.35 cbBTC to 56.29 cbBTC | -1% from 356.86 cbBTC to 351.79 cbBTC | +9% from 14.67% to 16.00% | | weETH | +0% from 13.98 weETH to 13.99 weETH | -24% from 118.77 weETH to 90.31 weETH | +32% from 11.77% to 15.49% | | USDbC | -0% from 1.08K USDbC to 1.08K USDbC | +0% from 8.47K USDbC to 8.47K USDbC | -0% from 12.75% to 12.74% | | WELL | -7% from 16.60M WELL to 15.40M WELL | +6% from 186.11M WELL to 197.59M WELL | -13% from 8.92% to 7.79% | | cbETH | -0% from 99.23 cbETH to 98.78 cbETH | -19% from 1.64K cbETH to 1.33K cbETH | +22% from 6.05% to 7.41% | | MORPHO | -12% from 252.46K MORPHO to 221.91K MORPHO | +0% from 5.37M MORPHO to 5.38M MORPHO | -12% from 4.70% to 4.13% | | wstETH | +1% from 155.48 wstETH to 156.54 wstETH | +2% from 3.82K wstETH to 3.89K wstETH | -1% from 4.07% to 4.03% | | rETH | -6% from 22.13 rETH to 20.81 rETH | -1% from 832.25 rETH to 827.92 rETH | -5% from 2.66% to 2.51% | | wrsETH | -17% from 0.02 wrsETH to 0.02 wrsETH | -0% from 93.12 wrsETH to 92.69 wrsETH | -17% from 0.02% to 0.02% | ### Notable Trends - WETH supply +13% (8.90K → 10.02K WETH) - AERO supply +11% (18.68M → 20.76M AERO) - cbXRP supply +19% (2.24M → 2.67M cbXRP) ### Liquidations - **Total liquidations:** 242 - **Total Collateral Seized (USD):** $368,519.00 - **Total Debt Repaid (USD):** $335,017.27 - **Total Liquidation Bonus (USD):** $33,501.73 - **Total Liquidator Bonus (USD):** $23,451.21 - **Total Protocol Bonus (USD):** $10,050.52 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | cbBTC | 2.236768 | $186,562.39 | $169,602.17 | $16,960.22 | $11,872.15 | $5,088.07 | 48 | | LBTC | 1.002555 | $82,173.22 | $74,702.93 | $7,470.29 | $5,229.20 | $2,241.09 | 5 | | WETH | 12.814425 | $34,375.89 | $31,250.81 | $3,125.08 | $2,187.56 | $937.52 | 75 | | cbETH | 10.008528 | $30,037.83 | $27,307.12 | $2,730.71 | $1,911.50 | $819.21 | 9 | | AERO | 17,723.912979 | $11,888.01 | $10,807.28 | $1,080.73 | $756.51 | $324.22 | 53 | | USDC | 8,975.649960 | $8,973.68 | $8,157.89 | $815.79 | $571.05 | $244.74 | 8 | | WELL | 690,484.682400 | $5,589.60 | $5,081.45 | $508.15 | $355.70 | $152.44 | 11 | | VIRTUAL | 6,002.161800 | $5,496.14 | $4,996.50 | $499.65 | $349.75 | $149.89 | 6 | | wstETH | 0.734302 | $2,424.26 | $2,203.87 | $220.39 | $154.27 | $66.12 | 2 | | cbXRP | 408.345810 | $814.87 | $740.79 | $74.08 | $51.86 | $22.22 | 10 | | weETH | 0.032356 | $95.57 | $86.88 | $8.69 | $6.08 | $2.61 | 2 | | EURC | 33.101767 | $38.09 | $34.63 | $3.46 | $2.42 | $1.04 | 9 | | MORPHO | 21.902600 | $32.88 | $29.89 | $2.99 | $2.09 | $0.90 | 1 | | tBTC | 0.000183 | $15.31 | $13.92 | $1.39 | $0.97 | $0.42 | 1 | | USDS | 0.850490 | $0.85 | $0.77 | $0.08 | $0.05 | $0.02 | 1 | | rETH | 0.000129 | $0.40 | $0.37 | $0.04 | $0.03 | $0.01 | 1 | ## OP Mainnet | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | WETH | 30.00K | 32.00K | 7.16% | 8.54% | 78.58% | | DAI | 4.50M | 4.80M | 0.87% | 1.24% | 65.65% | | WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 61.62% | | USDT0 | 8.00M | 10.00M | 0.88% | 1.15% | 61.53% | | USDC | 34.00M | 36.40M | 1.87% | 3.19% | 55.10% | | USDT | 18.40M | 22.60M | 0.45% | 0.98% | 38.61% | | cbETH | 0.00 | 10.00 | 0.00% | 2.65% | 37.73% | | OP | 650.00K | 5.60M | 31.14% | 15.76% | 22.94% | | VELO | 20.00M | 80.00M | 47.23% | 56.91% | 20.75% | | rETH | 340.00 | 750.00 | 1.00% | 3.59% | 12.63% | | wstETH | 1.50K | 5.00K | 1.13% | 2.98% | 11.40% | | weETH | 220.00 | 1.20K | 0.79% | 4.03% | 3.60% | | wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.61% | ![w2](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/3/397732b2e6056a8c7cab8737ddb773c0ec738905.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | WETH | +13% from 1.97K WETH to 2.23K WETH | +9% from 2.58K WETH to 2.81K WETH | +4% from 76.14% to 79.25% | | DAI | -1% from 39.48K DAI to 39.17K DAI | +0% from 59.72K DAI to 59.75K DAI | -1% from 66.10% to 65.55% | | WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.01 WBTC to 0.01 WBTC | 0% from 61.62% to 61.62% | | USDT0 | -31% from 99.72K USDT0 to 69.25K USDT0 | -6% from 121.70K USDT0 to 114.32K USDT0 | -26% from 81.94% to 60.57% | | USDC | +21% from 632.42K USDC to 765.48K USDC | -3% from 1.19M USDC to 1.15M USDC | +25% from 53.10% to 66.35% | | USDT | -10% from 91.29K USDT to 82.48K USDT | **+64% from 158.76K USDT to 260.21K USDT** | **-45% from 57.50% to 31.70%** | | cbETH | 0% from 0.10 cbETH to 0.10 cbETH | 0% from 0.27 cbETH to 0.27 cbETH | 0% from 37.73% to 37.73% | | OP | +0% from 201.62K OP to 202.28K OP | -4% from 905.79K OP to 867.90K OP | +5% from 22.26% to 23.31% | | VELO | -8% from 10.01M VELO to 9.22M VELO | +1% from 44.96M VELO to 45.61M VELO | -9% from 22.26% to 20.22% | | rETH | +0% from 3.40 rETH to 3.41 rETH | -0% from 26.97 rETH to 26.97 rETH | +0% from 12.62% to 12.63% | | wstETH | +0% from 14.90 wstETH to 14.91 wstETH | +3% from 144.46 wstETH to 148.24 wstETH | -2% from 10.31% to 10.06% | | weETH | -13% from 1.82 weETH to 1.58 weETH | -5% from 49.32 weETH to 47.01 weETH | -9% from 3.69% to 3.36% | | wrsETH | +0% from 0.28 wrsETH to 0.28 wrsETH | -0% from 17.19 wrsETH to 17.18 wrsETH | +0% from 1.61% to 1.61% | ### Notable Trends - WETH borrows +13% (1.97K → 2.23K WETH) - USDC borrows +21% (632.42K → 765.48K USDC) - USDT supply +64% (158.76K → 260.21K USDT) ### Liquidations - **Total liquidations:** 37 - **Total Collateral Seized (USD):** $22,305.87 - **Total Debt Repaid (USD):** $20,278.06 - **Total Liquidation Bonus (USD):** $2,027.81 - **Total Liquidator Bonus (USD):** $1,419.46 - **Total Protocol Bonus (USD):** $608.34 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | wstETH | 6.455140 | $20,996.76 | $19,087.97 | $1,908.80 | $1,336.16 | $572.64 | 4 | | OP | 2,726.508140 | $860.22 | $782.02 | $78.20 | $54.74 | $23.46 | 17 | | weETH | 0.124691 | $367.46 | $334.05 | $33.41 | $23.38 | $10.02 | 5 | | rETH | 0.012043 | $36.75 | $33.41 | $3.34 | $2.34 | $1.00 | 2 | | VELO | 1,098.353800 | $31.79 | $28.90 | $2.89 | $2.02 | $0.87 | 2 | | USDT0 | 8.240970 | $8.24 | $7.49 | $0.75 | $0.52 | $0.22 | 5 | | WETH | 0.001724 | $4.64 | $4.22 | $0.42 | $0.30 | $0.13 | 2 | ## Moonbeam | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | GLMR | 0.10 | 7837.86M% | 67.00% | | xcDOT | 0.10 | 19.68M% | 47.74% | | FRAX | 0.10 | 198.00K% | 46.58% | | xcUSDC | 0.10 | 26.97M% | 45.23% | | xcUSDT | 0.10 | 24.58M% | 30.39% | | USDC.wh | 0.10 | 21.93M% | 22.03% | | BTC.wh | 0.10 | 93.00% | 7.82% | | ETH.wh | 0.10 | 1.10K% | 3.52% | ![w3](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/c/c1c527e6d3774e7805b6d5e1c7c4bb5cb170cfe5.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | GLMR | +1% from 7.79M GLMR to 7.89M GLMR | +4% from 11.32M GLMR to 11.77M GLMR | -3% from 68.79% to 67.07% | | xcDOT | -1% from 19.82K xcDOT to 19.66K xcDOT | -0% from 1.12M xcDOT to 1.12M xcDOT | +0% from 47.69% to 47.80% | | FRAX | -18% from 238.24 FRAX to 194.50 FRAX | -0% from 38.77K FRAX to 38.75K FRAX | -0% from 46.68% to 46.58% | | xcUSDC | -1% from 27.16K xcUSDC to 26.91K xcUSDC | -1% from 60.59K xcUSDC to 60.00K xcUSDC | +0% from 44.82% to 44.84% | | xcUSDT | -3% from 25.07K xcUSDT to 24.27K xcUSDT | +0% from 80.85K xcUSDT to 80.87K xcUSDT | -3% from 31.01% to 30.01% | | USDC.wh | -4% from 22.48K USDC.wh to 21.59K USDC.wh | +0% from 99.56K USDC.wh to 99.59K USDC.wh | -4% from 22.59% to 21.68% | | BTC.wh | 0% from 0.09 BTC.wh to 0.09 BTC.wh | 0% from 1.19 BTC.wh to 1.19 BTC.wh | 0% from 7.82% to 7.82% | | ETH.wh | +0% from 1.10 ETH.wh to 1.10 ETH.wh | +0% from 31.10 ETH.wh to 31.10 ETH.wh | +0% from 3.52% to 3.53% | ### Liquidations - **Total liquidations:** 45 - **Total Collateral Seized (USD):** $1,601.88 - **Total Debt Repaid (USD):** $1,456.26 - **Total Liquidation Bonus (USD):** $145.63 - **Total Liquidator Bonus (USD):** $101.94 - **Total Protocol Bonus (USD):** $43.69 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | xcDOT | 629.832884 | $1,438.37 | $1,307.61 | $130.76 | $91.53 | $39.23 | 37 | | GLMR | 5,374.570200 | $148.69 | $135.17 | $13.52 | $9.46 | $4.06 | 5 | | xcUSDT | 14.246870 | $14.24 | $12.94 | $1.29 | $0.91 | $0.39 | 2 | | ETH\_wh | 0.000214 | $0.59 | $0.54 | $0.05 | $0.04 | $0.02 | 1 | ## Moonriver | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | xcKSM | 0.10 | 6.51M% | 45.10% | | FRAX | 0.10 | 51.16M% | 15.87% | | MOVR | 0.10 | 3.57M% | 2.58% | ![w4](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/b/bd6860342383c2079d1aeb407fd2574db4f9ab65.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | xcKSM | +0% from 6.48K xcKSM to 6.51K xcKSM | +0% from 14.41K xcKSM to 14.43K xcKSM | +0% from 45.00% to 45.13% | | FRAX | -1% from 51.31K FRAX to 51.01K FRAX | -0% from 322.42K FRAX to 322.25K FRAX | -1% from 15.91% to 15.83% | | MOVR | +0% from 3.57K MOVR to 3.57K MOVR | -0% from 138.62K MOVR to 138.41K MOVR | +0% from 2.57% to 2.58% | ### Liquidations - **Total liquidations:** 2 - **Total Collateral Seized (USD):** $19.73 - **Total Debt Repaid (USD):** $17.94 - **Total Liquidation Bonus (USD):** $1.79 - **Total Liquidator Bonus (USD):** $1.26 - **Total Protocol Bonus (USD):** $0.54 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | MOVR | 6.686920 | $19.73 | $17.94 | $1.79 | $1.26 | $0.54 | 2 | ---
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [December 4, 2025, 5:40pm UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/43 "2025-12-04T17:40:41Z")
# Weekly Update (11/28/25 - 12/4/25) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, Moonbeam, and Moonriver. Data from 11/28/25 to 12/4/25. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | USDS | 690.00K | 750.00K | 1.01% | 1.06% | 88.33% | | USDC | 184.00M | 200.00M | 14.99% | 17.29% | 79.93% | | EURC | 21.00M | 21.90M | 6.24% | 8.13% | 73.93% | | DAI | 300.00K | 400.00K | 5.27% | 5.63% | 70.25% | | WETH | 64.00K | 96.00K | 9.83% | 9.72% | 67.38% | | VIRTUAL | 10.00K | 4.50M | 19.54K% | 71.67% | 60.64% | | cbXRP | 1.60M | 5.00M | 87.44% | 54.11% | 51.71% | | AERO | 25.00M | 70.00M | 20.01% | 29.05% | 24.63% | | tBTC | 5.00 | 90.00 | 21.94% | 5.63% | 21.67% | | LBTC | 10.00 | 95.00 | 58.24% | 28.84% | 21.26% | | MAMO | 3.00M | 20.00M | 14.41% | 10.67% | 20.27% | | cbBTC | 640.00 | 1.50K | 8.91% | 22.69% | 16.78% | | weETH | 200.00 | 5.40K | 7.01% | 1.66% | 15.61% | | USDbC | 1.00 | 1.00 | 107.87K% | 846.73K% | 12.74% | | WELL | 10.00M | 250.00M | 148.74% | 79.69% | 7.47% | | cbETH | 6.40K | 16.00K | 1.53% | 8.28% | 7.41% | | MORPHO | 100.00K | 6.00M | 221.13% | 89.57% | 4.11% | | wstETH | 4.80K | 14.40K | 3.26% | 26.97% | 4.04% | | rETH | 200.00 | 2.60K | 10.41% | 31.44% | 2.55% | | wrsETH | 0.00 | 1.00 | 0.00% | 9.25K% | 0.02% | ![image1](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/d/d607ca1a99c0b8f8f536178cab6266b0e58078dd.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | USDS | +0% from 6.99K USDS to 7.02K USDS | -5% from 8.05K USDS to 7.66K USDS | +5% from 86.94% to 91.67% | | USDC | -12% from 29.19M USDC to 25.65M USDC | -11% from 36.74M USDC to 32.64M USDC | -1% from 79.45% to 78.58% | | EURC | -0% from 1.31M EURC to 1.31M EURC | -0% from 1.73M EURC to 1.72M EURC | -0% from 75.99% to 75.85% | | DAI | +4% from 12.57K DAI to 13.04K DAI | +1% from 22.32K DAI to 22.60K DAI | +2% from 56.31% to 57.71% | | WETH | +6% from 6.50K WETH to 6.86K WETH | -3% from 10.01K WETH to 9.69K WETH | +9% from 64.93% to 70.84% | | VIRTUAL | +0% from 1.95M VIRTUAL to 1.96M VIRTUAL | +29% from 3.16M VIRTUAL to 4.07M VIRTUAL | -22% from 61.84% to 48.13% | | cbXRP | +6% from 1.39M cbXRP to 1.47M cbXRP | +1% from 2.67M cbXRP to 2.69M cbXRP | +5% from 51.98% to 54.48% | | AERO | +28% from 4.38M AERO to 5.62M AERO | -3% from 20.76M AERO to 20.13M AERO | +32% from 21.11% to 27.90% | | tBTC | +0% from 1.13 tBTC to 1.13 tBTC | -11% from 5.56 tBTC to 4.94 tBTC | +13% from 20.41% to 22.98% | | LBTC | -1% from 5.87 LBTC to 5.80 LBTC | +1% from 27.30 LBTC to 27.54 LBTC | -2% from 21.51% to 21.08% | | MAMO | +5% from 423.90K MAMO to 446.81K MAMO | +6% from 2.04M MAMO to 2.16M MAMO | -0% from 20.77% to 20.69% | | cbBTC | +1% from 55.97 cbBTC to 56.28 cbBTC | -7% from 351.55 cbBTC to 325.47 cbBTC | +9% from 15.92% to 17.29% | | weETH | -0% from 13.99 weETH to 13.95 weETH | -1% from 90.31 weETH to 89.59 weETH | +1% from 15.49% to 15.57% | | USDbC | -0% from 1.08K USDbC to 1.08K USDbC | -0% from 8.47K USDbC to 8.46K USDbC | -0% from 12.74% to 12.73% | | WELL | -6% from 15.40M WELL to 14.48M WELL | +1% from 197.59M WELL to 199.37M WELL | -7% from 7.79% to 7.26% | | cbETH | -1% from 98.78 cbETH to 98.00 cbETH | -2% from 1.33K cbETH to 1.31K cbETH | +1% from 7.41% to 7.48% | | MORPHO | -1% from 221.91K MORPHO to 220.70K MORPHO | -0% from 5.38M MORPHO to 5.37M MORPHO | -1% from 4.13% to 4.11% | | wstETH | +0% from 156.54 wstETH to 156.98 wstETH | -1% from 3.89K wstETH to 3.86K wstETH | +1% from 4.03% to 4.07% | | rETH | +0% from 20.81 rETH to 20.83 rETH | -2% from 828.09 rETH to 811.15 rETH | +2% from 2.51% to 2.57% | | wrsETH | 0% from 0.02 wrsETH to 0.02 wrsETH | -2% from 92.69 wrsETH to 90.69 wrsETH | +2% from 0.02% to 0.02% | ### Notable Trends - USDC supply -11% (36.74M → 32.64M USDC) - AERO borrows +28% (4.38M → 5.62M AERO) - VIRTUAL supply +29% (3.16M → 4.07M VIRTUAL) ### Liquidations - **Total liquidations:** 89 - **Total Collateral Seized (USD):** $49,145.00 - **Total Debt Repaid (USD):** $44,677.27 - **Total Liquidation Bonus (USD):** $4,467.73 - **Total Liquidator Bonus (USD):** $3,127.41 - **Total Protocol Bonus (USD):** $1,340.32 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | AERO | 73,087.691573 | $43,894.22 | $39,903.84 | $3,990.38 | $2,793.27 | $1,197.12 | 42 | | cbBTC | 0.020062 | $1,722.33 | $1,565.76 | $156.58 | $109.60 | $46.97 | 5 | | WETH | 0.477561 | $1,508.31 | $1,371.19 | $137.12 | $95.98 | $41.14 | 18 | | VIRTUAL | 996.490000 | $813.27 | $739.34 | $73.93 | $51.75 | $22.18 | 5 | | EURC | 490.649400 | $569.20 | $517.46 | $51.75 | $36.22 | $15.52 | 3 | | cbXRP | 131.553460 | $287.29 | $261.17 | $26.12 | $18.28 | $7.84 | 6 | | WELL | 22,338.520000 | $200.90 | $182.64 | $18.26 | $12.78 | $5.48 | 2 | | weETH | 0.027882 | $85.26 | $77.51 | $7.75 | $5.43 | $2.33 | 1 | | USDC | 42.339720 | $42.33 | $38.48 | $3.85 | $2.69 | $1.15 | 5 | | MORPHO | 14.190500 | $21.56 | $19.60 | $1.96 | $1.37 | $0.59 | 1 | | rETH | 0.000097 | $0.34 | $0.31 | $0.03 | $0.02 | $0.01 | 1 | ## OP Mainnet | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | WETH | 30.00K | 32.00K | 7.72% | 9.14% | 79.21% | | DAI | 4.50M | 4.80M | 0.87% | 1.25% | 65.49% | | USDC | 34.00M | 36.40M | 2.11% | 3.07% | 63.85% | | USDT0 | 8.00M | 10.00M | 0.90% | 1.14% | 63.33% | | WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 61.62% | | cbETH | 0.00 | 10.00 | 0.00% | 2.69% | 37.28% | | USDT | 18.40M | 22.60M | 0.47% | 1.10% | 35.51% | | OP | 650.00K | 5.60M | 36.49% | 16.17% | 26.07% | | VELO | 20.00M | 80.00M | 47.04% | 57.62% | 20.41% | | rETH | 340.00 | 750.00 | 1.00% | 3.60% | 12.65% | | wstETH | 1.50K | 5.00K | 0.99% | 2.99% | 9.98% | | weETH | 220.00 | 1.20K | 0.72% | 3.92% | 3.36% | | wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.64% | ![image2](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/6/633d47c70efe1d77617e40fd61e89da4d3aaace3.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | WETH | +6% from 2.23K WETH to 2.35K WETH | +6% from 2.81K WETH to 2.98K WETH | -0% from 79.25% to 78.95% | | DAI | -0% from 39.17K DAI to 39.05K DAI | +0% from 59.75K DAI to 59.79K DAI | -0% from 65.55% to 65.32% | | USDC | +2% from 765.50K USDC to 781.22K USDC | -1% from 1.15M USDC to 1.14M USDC | +3% from 66.35% to 68.27% | | USDT0 | +7% from 69.25K USDT0 to 73.88K USDT0 | -1% from 114.32K USDT0 to 113.18K USDT0 | +8% from 60.57% to 65.28% | | WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.01 WBTC to 0.01 WBTC | 0% from 61.62% to 61.62% | | cbETH | +0% from 0.10 cbETH to 0.10 cbETH | +3% from 0.27 cbETH to 0.27 cbETH | -3% from 37.73% to 36.64% | | USDT | +13% from 82.48K USDT to 92.80K USDT | +3% from 260.21K USDT to 268.75K USDT | +9% from 31.70% to 34.53% | | OP | **+48% from 202.28K OP to 298.49K OP** | +12% from 867.91K OP to 974.64K OP | +31% from 23.31% to 30.63% | | VELO | -2% from 9.22M VELO to 9.00M VELO | +3% from 45.61M VELO to 46.83M VELO | -5% from 20.22% to 19.23% | | rETH | +31% from 3.41 rETH to 4.46 rETH | +4% from 26.97 rETH to 28.03 rETH | +26% from 12.63% to 15.93% | | wstETH | +0% from 14.91 wstETH to 14.91 wstETH | +2% from 148.24 wstETH to 151.60 wstETH | -2% from 10.06% to 9.83% | | weETH | +0% from 1.58 weETH to 1.58 weETH | +0% from 47.01 weETH to 47.01 weETH | +0% from 3.36% to 3.36% | | wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | -7% from 17.18 wrsETH to 16.01 wrsETH | +7% from 1.61% to 1.73% | ### Notable Trends - OP supply +12% (867.91K → 974.64K OP) - OP borrows +48% (202.28K → 298.49K OP) ### Liquidations - **Total liquidations:** 12 - **Total Collateral Seized (USD):** $124.15 - **Total Debt Repaid (USD):** $112.87 - **Total Liquidation Bonus (USD):** $11.29 - **Total Liquidator Bonus (USD):** $7.90 - **Total Protocol Bonus (USD):** $3.39 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | VELO | 3,969.575000 | $112.17 | $101.98 | $10.20 | $7.14 | $3.06 | 8 | | OP | 41.690975 | $11.98 | $10.89 | $1.09 | $0.76 | $0.33 | 4 | ## Moonbeam | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | GLMR | 0.10 | 7948.25M% | 68.56% | | xcDOT | 0.10 | 19.62M% | 47.85% | | FRAX | 0.10 | 194.50K% | 46.58% | | xcUSDC | 0.10 | 25.56M% | 43.25% | | xcUSDT | 0.10 | 23.45M% | 29.00% | | USDC.wh | 0.10 | 20.98M% | 21.06% | | BTC.wh | 0.10 | 93.00% | 7.82% | | ETH.wh | 0.10 | 1.10K% | 3.66% | ![image3](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/9/98c5fe52b3cd403b09003410a4875dabcfe651fc.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | GLMR | +2% from 7.89M GLMR to 8.01M GLMR | -2% from 11.77M GLMR to 11.51M GLMR | +4% from 67.07% to 69.63% | | xcDOT | -0% from 19.66K xcDOT to 19.61K xcDOT | -0% from 1.12M xcDOT to 1.11M xcDOT | +0% from 47.80% to 47.88% | | FRAX | 0% from 194.50 FRAX to 194.50 FRAX | 0% from 38.75K FRAX to 38.75K FRAX | 0% from 46.58% to 46.58% | | xcUSDC | -10% from 26.91K xcUSDC to 24.28K xcUSDC | -4% from 60.01K xcUSDC to 57.67K xcUSDC | -6% from 44.84% to 42.11% | | xcUSDT | -7% from 24.28K xcUSDT to 22.63K xcUSDT | -0% from 80.88K xcUSDT to 80.88K xcUSDT | -7% from 30.02% to 27.98% | | USDC.wh | -6% from 21.59K USDC.wh to 20.40K USDC.wh | +0% from 99.59K USDC.wh to 99.60K USDC.wh | -6% from 21.68% to 20.48% | | BTC.wh | 0% from 0.09 BTC.wh to 0.09 BTC.wh | 0% from 1.19 BTC.wh to 1.19 BTC.wh | 0% from 7.82% to 7.82% | | ETH.wh | +0% from 1.10 ETH.wh to 1.10 ETH.wh | -5% from 31.10 ETH.wh to 29.61 ETH.wh | +5% from 3.53% to 3.71% | ### Liquidations - **Total liquidations:** 66 - **Total Collateral Seized (USD):** $5,448.40 - **Total Debt Repaid (USD):** $4,953.09 - **Total Liquidation Bonus (USD):** $495.31 - **Total Liquidator Bonus (USD):** $346.72 - **Total Protocol Bonus (USD):** $148.59 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | xcDOT | 2,312.011873 | $4,740.11 | $4,309.19 | $430.92 | $301.64 | $129.28 | 35 | | GLMR | 26,742.119360 | $670.85 | $609.86 | $60.99 | $42.69 | $18.30 | 28 | | xcUSDC | 22.779600 | $22.77 | $20.70 | $2.07 | $1.45 | $0.62 | 1 | | xcUSDT | 12.827900 | $12.83 | $11.66 | $1.17 | $0.82 | $0.35 | 1 | | USDC\_wh | 1.838960 | $1.84 | $1.67 | $0.17 | $0.12 | $0.05 | 1 | ## Moonriver | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | xcKSM | 0.10 | 6.51M% | 47.04% | | FRAX | 0.10 | 50.98M% | 15.82% | | MOVR | 0.10 | 3.20M% | 2.35% | ![image4](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/2/297dd802a1957e280ec421ba6d6085d2e8b926b3.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | xcKSM | -1% from 6.52K xcKSM to 6.48K xcKSM | -6% from 14.43K xcKSM to 13.59K xcKSM | +6% from 45.18% to 47.70% | | FRAX | -0% from 51.01K FRAX to 50.92K FRAX | -0% from 322.25K FRAX to 322.16K FRAX | -0% from 15.83% to 15.81% | | MOVR | -23% from 3.57K MOVR to 2.76K MOVR | -2% from 138.31K MOVR to 135.01K MOVR | -21% from 2.58% to 2.04% | ### Liquidations - **Total liquidations:** 17 - **Total Collateral Seized (USD):** $2,097.66 - **Total Debt Repaid (USD):** $1,906.97 - **Total Liquidation Bonus (USD):** $190.70 - **Total Liquidator Bonus (USD):** $133.49 - **Total Protocol Bonus (USD):** $57.21 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | MOVR | 572.027287 | $1,759.12 | $1,599.20 | $159.92 | $111.94 | $47.98 | 14 | | xcKSM | 27.676500 | $240.38 | $218.53 | $21.85 | $15.30 | $6.56 | 1 | | FRAX | 98.814300 | $98.16 | $89.24 | $8.92 | $6.25 | $2.68 | 2 | ---
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [December 11, 2025, 2:45pm UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/44 "2025-12-11T14:45:45Z")
# Weekly Update (12/5/25 - 12/11/25) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, Moonbeam, and Moonriver. Data from 12/5/25 to 12/11/25. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | USDS | 690.00K | 750.00K | 1.02% | 1.07% | 87.40% | | USDC | 184.00M | 200.00M | 14.05% | 16.03% | 81.27% | | EURC | 21.00M | 21.90M | 6.21% | 8.27% | 72.13% | | WETH | 64.00K | 96.00K | 8.72% | 8.38% | 69.09% | | DAI | 300.00K | 400.00K | 4.35% | 5.65% | 57.75% | | cbXRP | 1.60M | 5.00M | 86.76% | 54.07% | 51.36% | | VIRTUAL | 10.00K | 4.50M | 19.59K% | 93.92% | 46.37% | | AERO | 25.00M | 70.00M | 23.04% | 28.91% | 28.46% | | MAMO | 3.00M | 20.00M | 17.60% | 11.11% | 23.75% | | LBTC | 10.00 | 95.00 | 46.26% | 28.02% | 17.34% | | cbBTC | 640.00 | 1.50K | 8.17% | 21.70% | 16.05% | | weETH | 200.00 | 5.40K | 6.95% | 1.67% | 15.44% | | tBTC | 5.00 | 90.00 | 14.09% | 5.17% | 14.79% | | USDbC | 1.00 | 1.00 | 107.76K% | 846.28K% | 12.73% | | cbETH | 6.40K | 16.00K | 1.59% | 8.18% | 7.77% | | WELL | 10.00M | 250.00M | 143.83% | 79.86% | 7.20% | | wstETH | 4.80K | 14.40K | 3.30% | 26.74% | 4.11% | | MORPHO | 100.00K | 6.00M | 220.47% | 89.41% | 4.11% | | rETH | 200.00 | 2.60K | 10.44% | 31.20% | 2.57% | | wrsETH | 0.00 | 1.00 | 0.00% | 8.85K% | 0.02% | ![image1](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/0/00bc4e175983200e69298baf28f7541ee9103cd0.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | USDS | -1% from 7.02K USDS to 6.98K USDS | +14% from 7.66K USDS to 8.74K USDS | -13% from 91.67% to 79.82% | | USDC | +1% from 25.67M USDC to 25.89M USDC | -2% from 32.59M USDC to 31.95M USDC | +3% from 78.77% to 81.04% | | EURC | +0% from 1.31M EURC to 1.31M EURC | +2% from 1.72M EURC to 1.76M EURC | -2% from 75.85% to 74.14% | | WETH | -10% from 6.86K WETH to 6.18K WETH | -11% from 9.69K WETH to 8.61K WETH | +1% from 70.82% to 71.79% | | DAI | +0% from 13.04K DAI to 13.07K DAI | -0% from 22.60K DAI to 22.58K DAI | +0% from 57.71% to 57.88% | | cbXRP | -8% from 1.47M cbXRP to 1.35M cbXRP | +2% from 2.69M cbXRP to 2.76M cbXRP | -10% from 54.49% to 49.02% | | VIRTUAL | +0% from 1.96M VIRTUAL to 1.96M VIRTUAL | +5% from 4.07M VIRTUAL to 4.28M VIRTUAL | -5% from 48.11% to 45.83% | | AERO | +13% from 5.61M AERO to 6.37M AERO | +4% from 19.94M AERO to 20.70M AERO | +9% from 28.15% to 30.77% | | MAMO | -33% from 446.81K MAMO to 297.93K MAMO | +6% from 2.16M MAMO to 2.28M MAMO | -37% from 20.69% to 13.07% | | LBTC | -39% from 5.80 LBTC to 3.52 LBTC | +0% from 27.54 LBTC to 27.57 LBTC | -39% from 21.08% to 12.75% | | cbBTC | -7% from 56.46 cbBTC to 52.41 cbBTC | -1% from 325.44 cbBTC to 322.04 cbBTC | -6% from 17.35% to 16.27% | | weETH | -0% from 13.95 weETH to 13.94 weETH | -3% from 89.59 weETH to 86.84 weETH | +3% from 15.57% to 16.06% | | tBTC | -26% from 1.13 tBTC to 0.84 tBTC | -6% from 5.04 tBTC to 4.74 tBTC | -22% from 22.53% to 17.64% | | USDbC | +0% from 1.08K USDbC to 1.08K USDbC | -0% from 8.46K USDbC to 8.46K USDbC | +0% from 12.73% to 12.74% | | cbETH | +11% from 98.00 cbETH to 108.90 cbETH | -0% from 1.31K cbETH to 1.30K cbETH | +12% from 7.48% to 8.35% | | WELL | -1% from 14.48M WELL to 14.34M WELL | +0% from 199.37M WELL to 200.12M WELL | -1% from 7.26% to 7.16% | | wstETH | +1% from 156.98 wstETH to 158.66 wstETH | +0% from 3.85K wstETH to 3.86K wstETH | +1% from 4.07% to 4.11% | | MORPHO | -0% from 220.70K MORPHO to 220.22K MORPHO | -0% from 5.37M MORPHO to 5.36M MORPHO | -0% from 4.11% to 4.11% | | rETH | +0% from 20.83 rETH to 20.90 rETH | -0% from 811.15 rETH to 811.14 rETH | +0% from 2.57% to 2.58% | | wrsETH | 0% from 0.02 wrsETH to 0.02 wrsETH | -2% from 90.69 wrsETH to 88.48 wrsETH | +2% from 0.02% to 0.02% | ### Notable Trends - WETH supply -11% (9.69K → 8.61K WETH) - AERO borrows +13% (5.61M → 6.37M AERO) - AERO supply +4% (19.94M → 20.70M AERO) ### Liquidations - **Total liquidations:** 40 - **Total Collateral Seized (USD):** $3,203.43 - **Total Debt Repaid (USD):** $2,912.21 - **Total Liquidation Bonus (USD):** $291.22 - **Total Liquidator Bonus (USD):** $203.85 - **Total Protocol Bonus (USD):** $87.37 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | USDC | 2,946.537416 | $2,946.00 | $2,678.18 | $267.82 | $187.47 | $80.35 | 3 | | MORPHO | 102.322783 | $128.93 | $117.21 | $11.72 | $8.20 | $3.52 | 3 | | AERO | 85.444970 | $56.14 | $51.03 | $5.10 | $3.57 | $1.53 | 6 | | WETH | 0.009379 | $30.66 | $27.87 | $2.79 | $1.95 | $0.84 | 24 | | cbBTC | 0.000202 | $18.97 | $17.24 | $1.72 | $1.21 | $0.52 | 2 | | weETH | 0.004975 | $17.91 | $16.28 | $1.63 | $1.14 | $0.49 | 1 | | EURC | 4.152440 | $4.83 | $4.39 | $0.44 | $0.31 | $0.13 | 1 | ## Optimism | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | DAI | 4.50M | 4.80M | 0.87% | 1.25% | 65.16% | | USDC | 34.00M | 36.40M | 1.88% | 2.76% | 62.70% | | WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 61.62% | | USDT0 | 8.00M | 10.00M | 0.86% | 1.13% | 60.97% | | WETH | 30.00K | 32.00K | 3.51% | 5.06% | 50.56% | | cbETH | 0.00 | 10.00 | 0.00% | 2.74% | 36.67% | | USDT | 18.40M | 22.60M | 0.52% | 1.19% | 35.40% | | OP | 650.00K | 5.60M | 52.20% | 17.44% | 34.75% | | VELO | 20.00M | 80.00M | 44.57% | 57.33% | 19.44% | | rETH | 340.00 | 750.00 | 0.81% | 3.48% | 10.47% | | wstETH | 1.50K | 5.00K | 0.51% | 2.86% | 5.16% | | weETH | 4.00 | 10.00 | 32.00% | 467.08% | 2.74% | | wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.81% | ![image2](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/a/ac050d6bb7c3e484f6abe22066055dfa79142e63.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | DAI | -1% from 39.05K DAI to 38.75K DAI | +0% from 59.79K DAI to 59.83K DAI | -1% from 65.32% to 64.77% | | USDC | -11% from 780.81K USDC to 691.10K USDC | -10% from 1.15M USDC to 1.03M USDC | -1% from 68.16% to 67.33% | | WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.01 WBTC to 0.01 WBTC | 0% from 61.62% to 61.62% | | USDT0 | -7% from 73.88K USDT0 to 68.67K USDT0 | +1% from 113.18K USDT0 to 114.08K USDT0 | -8% from 65.28% to 60.19% | | WETH | -10% from 2.35K WETH to 2.13K WETH | -6% from 2.98K WETH to 2.80K WETH | -4% from 78.96% to 75.94% | | cbETH | +0% from 0.10 cbETH to 0.10 cbETH | -0% from 0.27 cbETH to 0.27 cbETH | +0% from 36.64% to 36.79% | | USDT | -4% from 92.80K USDT to 89.38K USDT | -7% from 268.75K USDT to 248.71K USDT | +4% from 34.53% to 35.94% | | OP | +19% from 299.96K OP to 356.62K OP | -1% from 974.67K OP to 968.11K OP | +20% from 30.78% to 36.84% | | VELO | +2% from 9.00M VELO to 9.17M VELO | -2% from 46.87M VELO to 45.71M VELO | +4% from 19.21% to 20.07% | | rETH | **-45% from 4.46 rETH to 2.46 rETH** | -8% from 28.03 rETH to 25.74 rETH | -40% from 15.93% to 9.57% | | wstETH | **-61% from 14.91 wstETH to 5.77 wstETH** | +6% from 151.60 wstETH to 160.50 wstETH | **-63% from 9.83% to 3.59%** | | weETH | -32% from 1.58 weETH to 1.08 weETH | -1% from 47.01 weETH to 46.51 weETH | -31% from 3.36% to 2.33% | | wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | -5% from 16.01 wrsETH to 15.14 wrsETH | +6% from 1.73% to 1.83% | ### Notable Trends - WETH borrows -10% (2.35K → 2.13K WETH) - WETH supply -6% (2.98K → 2.80K WETH) - USDC supply -10% (1.15M → 1.03M USDC) - USDC borrows -11% (780.81K → 691.10K USDC) - wstETH supply +6% (151.60 → 160.50 wstETH) ### Liquidations - **Total liquidations:** 4 - **Total Collateral Seized (USD):** $12.70 - **Total Debt Repaid (USD):** $11.54 - **Total Liquidation Bonus (USD):** $1.15 - **Total Liquidator Bonus (USD):** $0.81 - **Total Protocol Bonus (USD):** $0.35 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | VELO | 401.746000 | $10.92 | $9.93 | $0.99 | $0.70 | $0.30 | 1 | | USDT0 | 1.776274 | $1.78 | $1.61 | $0.16 | $0.11 | $0.05 | 3 | ## Moonbeam | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | GLMR | 0.10 | 8079.46M% | 71.05% | | xcDOT | 0.10 | 19.61M% | 48.13% | | FRAX | 0.10 | 194.51K% | 46.60% | | xcUSDC | 0.10 | 24.30M% | 42.71% | | xcUSDT | 0.10 | 21.73M% | 26.86% | | USDC.wh | 0.10 | 18.84M% | 19.04% | | BTC.wh | 0.10 | 93.00% | 7.82% | | ETH.wh | 0.10 | 1.10K% | 3.84% | ![image3](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/5/5f38cea06dcd820ff1eb9c02b253d8e1488ddc72.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | GLMR | +2% from 8.01M GLMR to 8.15M GLMR | -1% from 11.52M GLMR to 11.46M GLMR | +2% from 69.56% to 71.14% | | xcDOT | -0% from 19.61K xcDOT to 19.61K xcDOT | -1% from 1.11M xcDOT to 1.10M xcDOT | +1% from 47.88% to 48.25% | | FRAX | +0% from 194.50 FRAX to 194.51 FRAX | -0% from 38.75K FRAX to 38.71K FRAX | +0% from 46.58% to 46.64% | | xcUSDC | +0% from 24.28K xcUSDC to 24.31K xcUSDC | -3% from 57.67K xcUSDC to 56.02K xcUSDC | +3% from 42.11% to 43.40% | | xcUSDT | -9% from 22.63K xcUSDT to 20.64K xcUSDT | +0% from 80.88K xcUSDT to 80.88K xcUSDT | -9% from 27.98% to 25.52% | | USDC.wh | -16% from 20.40K USDC.wh to 17.20K USDC.wh | -1% from 99.60K USDC.wh to 98.60K USDC.wh | -15% from 20.48% to 17.45% | | BTC.wh | 0% from 0.09 BTC.wh to 0.09 BTC.wh | 0% from 1.19 BTC.wh to 1.19 BTC.wh | 0% from 7.82% to 7.82% | | ETH.wh | +0% from 1.10 ETH.wh to 1.10 ETH.wh | -7% from 29.61 ETH.wh to 27.58 ETH.wh | +7% from 3.71% to 3.98% | ### Liquidations - **Total liquidations:** 12 - **Total Collateral Seized (USD):** $11.03 - **Total Debt Repaid (USD):** $10.03 - **Total Liquidation Bonus (USD):** $1.00 - **Total Liquidator Bonus (USD):** $0.70 - **Total Protocol Bonus (USD):** $0.30 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | xcDOT | 3.169441 | $6.63 | $6.03 | $0.60 | $0.42 | $0.18 | 8 | | FRAX | 2.153660 | $2.14 | $1.95 | $0.19 | $0.14 | $0.06 | 1 | | xcUSDT | 2.048360 | $2.05 | $1.86 | $0.19 | $0.13 | $0.06 | 1 | | GLMR | 6.500139 | $0.21 | $0.19 | $0.02 | $0.01 | $0.01 | 2 | ## Moonriver | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | xcKSM | 0.10 | 6.49M% | 48.02% | | FRAX | 0.10 | 50.59M% | 16.06% | | MOVR | 0.10 | 2.76M% | 2.05% | ![image4](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/d/d20f71515c7a7a9c2efa0a687fd7b78df2286c26.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | xcKSM | +0% from 6.49K xcKSM to 6.51K xcKSM | -0% from 13.52K xcKSM to 13.50K xcKSM | +0% from 47.98% to 48.19% | | FRAX | -0% from 50.65K FRAX to 50.59K FRAX | -6% from 322.16K FRAX to 303.16K FRAX | +6% from 15.72% to 16.69% | | MOVR | -1% from 2.76K MOVR to 2.73K MOVR | -1% from 135.00K MOVR to 134.31K MOVR | -0% from 2.04% to 2.03% | ### Liquidations - **Total liquidations:** 6 - **Total Collateral Seized (USD):** $64.27 - **Total Debt Repaid (USD):** $58.43 - **Total Liquidation Bonus (USD):** $5.84 - **Total Liquidator Bonus (USD):** $4.09 - **Total Protocol Bonus (USD):** $1.75 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | MOVR | 19.950320 | $56.20 | $51.09 | $5.11 | $3.58 | $1.53 | 2 | | xcKSM | 0.996818 | $8.08 | $7.34 | $0.73 | $0.51 | $0.22 | 4 | ### Additional Information As a reminder, Moonwell is deprecating the Moonriver markets this month by gradually reducing collateral factors. This may cause users with existing positions to get liquidated. We released a list of addresses likely to be affected by the upcoming proposal [here](https://forum.moonwell.fi/t/moonriver-chain-sunset/2042), please check if your address is in this list and close your outstanding positions on Moonriver. ---
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [December 18, 2025, 4:18pm UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/45 "2025-12-18T16:18:44Z")
# Weekly Update (12/12/25 - 12/18/25) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, Moonbeam, and Moonriver. Data from 12/12/25 to 12/18/25. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | USDS | 690.00K | 750.00K | 1.14% | 1.23% | 85.54% | | USDC | 184.00M | 200.00M | 14.08% | 16.40% | 79.10% | | WETH | 64.00K | 96.00K | 9.37% | 8.66% | 72.22% | | EURC | 21.00M | 21.90M | 6.27% | 8.45% | 71.22% | | DAI | 300.00K | 400.00K | 4.17% | 5.64% | 55.48% | | cbXRP | 1.60M | 5.00M | 92.86% | 56.16% | 52.91% | | VIRTUAL | 10.00K | 4.50M | 19.63K% | 95.74% | 45.58% | | AERO | 25.00M | 70.00M | 25.83% | 29.45% | 31.33% | | cbBTC | 640.00 | 1.50K | 8.32% | 21.30% | 16.67% | | weETH | 200.00 | 5.40K | 6.90% | 1.62% | 15.79% | | tBTC | 5.00 | 90.00 | 14.54% | 5.25% | 15.37% | | MAMO | 3.00M | 20.00M | 12.29% | 12.78% | 14.81% | | USDbC | 1.00 | 1.00 | 107.77K% | 845.12K% | 12.75% | | LBTC | 10.00 | 95.00 | 30.03% | 30.11% | 10.49% | | cbETH | 6.40K | 16.00K | 1.70% | 8.08% | 8.41% | | WELL | 10.00M | 250.00M | 126.79% | 79.60% | 6.37% | | wstETH | 4.80K | 14.40K | 3.29% | 26.37% | 4.15% | | MORPHO | 100.00K | 6.00M | 220.19% | 89.06% | 4.12% | | rETH | 200.00 | 2.60K | 10.45% | 31.35% | 2.56% | | wrsETH | 0.00 | 1.00 | 0.00% | 8.54K% | 0.02% | ![base](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/d/d85518e141f1517f44bd102c8853bea1f9951fcc.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | USDS | +0% from 7.88K USDS to 7.89K USDS | +5% from 8.74K USDS to 9.22K USDS | -5% from 90.12% to 85.51% | | USDC | -1% from 25.93M USDC to 25.74M USDC | +2% from 32.11M USDC to 32.90M USDC | -3% from 80.75% to 78.25% | | WETH | -7% from 6.19K WETH to 5.76K WETH | -10% from 8.62K WETH to 7.74K WETH | +3% from 71.86% to 74.37% | | EURC | -6% from 1.31M EURC to 1.23M EURC | +1% from 1.82M EURC to 1.83M EURC | -6% from 72.09% to 67.43% | | DAI | -13% from 13.07K DAI to 11.38K DAI | -0% from 22.58K DAI to 22.56K DAI | -13% from 57.89% to 50.42% | | cbXRP | +12% from 1.35M cbXRP to 1.50M cbXRP | +3% from 2.76M cbXRP to 2.83M cbXRP | +9% from 48.80% to 53.12% | | VIRTUAL | +0% from 1.96M VIRTUAL to 1.96M VIRTUAL | +1% from 4.27M VIRTUAL to 4.33M VIRTUAL | -1% from 45.89% to 45.33% | | AERO | +3% from 6.37M AERO to 6.58M AERO | -3% from 20.70M AERO to 20.19M AERO | +6% from 30.78% to 32.61% | | cbBTC | +1% from 52.55 cbBTC to 53.03 cbBTC | +0% from 319.04 cbBTC to 319.13 cbBTC | +1% from 16.47% to 16.62% | | weETH | -7% from 13.94 weETH to 12.95 weETH | +4% from 86.10 weETH to 89.19 weETH | -10% from 16.20% to 14.52% | | tBTC | -24% from 0.84 tBTC to 0.64 tBTC | -5% from 4.84 tBTC to 4.62 tBTC | -20% from 17.28% to 13.78% | | MAMO | +29% from 308.94K MAMO to 399.88K MAMO | +29% from 2.27M MAMO to 2.92M MAMO | +1% from 13.59% to 13.68% | | USDbC | -0% from 1.08K USDbC to 1.08K USDbC | -0% from 8.46K USDbC to 8.44K USDbC | +0% from 12.74% to 12.75% | | LBTC | -11% from 3.53 LBTC to 3.15 LBTC | +6% from 27.57 LBTC to 29.12 LBTC | -15% from 12.79% to 10.83% | | cbETH | +0% from 108.90 cbETH to 108.92 cbETH | -2% from 1.30K cbETH to 1.28K cbETH | +2% from 8.36% to 8.52% | | WELL | -17% from 14.34M WELL to 11.91M WELL | -0% from 199.96M WELL to 199.48M WELL | -17% from 7.17% to 5.97% | | wstETH | -6% from 158.66 wstETH to 149.36 wstETH | -2% from 3.86K wstETH to 3.77K wstETH | -4% from 4.11% to 3.96% | | MORPHO | -0% from 220.22K MORPHO to 220.17K MORPHO | -2% from 5.36M MORPHO to 5.27M MORPHO | +2% from 4.11% to 4.18% | | rETH | -0% from 20.90 rETH to 20.89 rETH | +1% from 811.16 rETH to 815.92 rETH | -1% from 2.58% to 2.56% | | wrsETH | -3% from 0.02 wrsETH to 0.01 wrsETH | -5% from 88.48 wrsETH to 84.38 wrsETH | +1% from 0.02% to 0.02% | ### Notable Trends - WETH supply -10% (8.62K → 7.74K WETH) - cbXRP borrows +12% (1.35M → 1.50M cbXRP) ### Liquidations - **Total liquidations:** 201 - **Total Collateral Seized (USD):** $126,167.45 - **Total Debt Repaid (USD):** $114,697.69 - **Total Liquidation Bonus (USD):** $11,469.77 - **Total Liquidator Bonus (USD):** $8,028.84 - **Total Protocol Bonus (USD):** $3,440.93 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | AERO | 150,165.674802 | $78,895.61 | $71,723.28 | $7,172.33 | $5,020.63 | $2,151.70 | 126 | | cbXRP | 11,829.424571 | $21,824.60 | $19,840.55 | $1,984.05 | $1,388.84 | $595.22 | 8 | | cbBTC | 0.096141 | $8,274.59 | $7,522.36 | $752.24 | $526.57 | $225.67 | 3 | | WETH | 2.842633 | $8,129.97 | $7,390.88 | $739.09 | $517.36 | $221.73 | 21 | | USDC | 3,340.717046 | $3,340.28 | $3,036.62 | $303.66 | $212.56 | $91.10 | 6 | | VIRTUAL | 3,211.890230 | $2,341.95 | $2,129.04 | $212.90 | $149.03 | $63.87 | 6 | | WELL | 224,679.300000 | $1,983.91 | $1,803.55 | $180.36 | $126.25 | $54.11 | 6 | | rETH | 0.331952 | $1,026.34 | $933.04 | $93.30 | $65.31 | $27.99 | 15 | | wstETH | 0.036795 | $131.84 | $119.86 | $11.99 | $8.39 | $3.60 | 2 | | EURC | 105.936220 | $124.50 | $113.18 | $11.32 | $7.92 | $3.40 | 2 | | MORPHO | 51.222551 | $57.92 | $52.65 | $5.27 | $3.69 | $1.58 | 4 | | weETH | 0.009094 | $30.53 | $27.75 | $2.78 | $1.94 | $0.83 | 1 | | USDS | 5.420640 | $5.42 | $4.93 | $0.49 | $0.34 | $0.15 | 1 | ![base-liquidations](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/1/179fbffed4465cecf883551c6d8bf729798bd9be.png) ## OP Mainnet | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | WETH | 30.00K | 32.00K | 8.50% | 10.02% | 79.42% | | DAI | 4.50M | 4.80M | 0.86% | 1.24% | 64.56% | | USDC | 34.00M | 36.40M | 1.97% | 2.90% | 63.51% | | WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 61.62% | | USDT0 | 8.00M | 10.00M | 0.86% | 1.12% | 61.36% | | USDT | 18.40M | 22.60M | 0.59% | 0.86% | 57.49% | | cbETH | 0.00 | 10.00 | 0.00% | 2.73% | 36.79% | | OP | 650.00K | 5.60M | 53.74% | 17.46% | 35.73% | | VELO | 20.00M | 80.00M | 43.96% | 54.59% | 20.16% | | rETH | 340.00 | 750.00 | 0.72% | 3.40% | 9.68% | | wstETH | 1.50K | 5.00K | 0.38% | 3.47% | 3.32% | | weETH | 4.00 | 10.00 | 27.06% | 465.08% | 2.33% | | wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.83% | ![op](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/c/c257c8bf47f8087784709ce09c998dce7cbbf09d.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | WETH | +30% from 2.13K WETH to 2.76K WETH | +22% from 2.80K WETH to 3.42K WETH | +6% from 75.94% to 80.77% | | DAI | -1% from 38.75K DAI to 38.49K DAI | -0% from 59.83K DAI to 59.70K DAI | -0% from 64.77% to 64.47% | | USDC | -11% from 690.72K USDC to 614.15K USDC | +3% from 1.03M USDC to 1.06M USDC | -14% from 67.26% to 57.85% | | WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.01 WBTC to 0.01 WBTC | 0% from 61.62% to 61.62% | | USDT0 | +0% from 68.67K USDT0 to 68.69K USDT0 | -2% from 114.08K USDT0 to 111.25K USDT0 | +3% from 60.19% to 61.74% | | USDT | +25% from 111.38K USDT to 138.94K USDT | -29% from 248.71K USDT to 176.60K USDT | **+76% from 44.78% to 78.68%** | | cbETH | 0% from 0.10 cbETH to 0.10 cbETH | 0% from 0.27 cbETH to 0.27 cbETH | 0% from 36.79% to 36.79% | | OP | -3% from 357.39K OP to 347.20K OP | +1% from 968.14K OP to 982.55K OP | -4% from 36.91% to 35.34% | | VELO | -1% from 9.17M VELO to 9.03M VELO | -10% from 45.71M VELO to 40.95M VELO | +10% from 20.05% to 22.06% | | rETH | +0% from 2.46 rETH to 2.46 rETH | -15% from 25.74 rETH to 21.86 rETH | +18% from 9.57% to 11.27% | | wstETH | -0% from 5.77 wstETH to 5.76 wstETH | +8% from 160.50 wstETH to 173.18 wstETH | -7% from 3.59% to 3.33% | | weETH | -0% from 1.08 weETH to 1.08 weETH | 0% from 46.51 weETH to 46.51 weETH | -0% from 2.33% to 2.33% | | wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | 0% from 15.14 wrsETH to 15.14 wrsETH | 0% from 1.83% to 1.83% | ### Notable Trends - WETH borrows +30% (2.13K → 2.76K WETH) - WETH supply +22% (2.80K → 3.42K WETH) - USDT supply -29% (248.71K → 176.60K USDT) ### Liquidations - **Total liquidations:** 205 - **Total Collateral Seized (USD):** $17,573.81 - **Total Debt Repaid (USD):** $15,976.19 - **Total Liquidation Bonus (USD):** $1,597.62 - **Total Liquidator Bonus (USD):** $1,118.33 - **Total Protocol Bonus (USD):** $479.29 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | rETH | 3.991611 | $12,468.46 | $11,334.96 | $1,133.50 | $793.45 | $340.05 | 171 | | VELO | 204,636.238450 | $4,715.74 | $4,287.03 | $428.70 | $300.09 | $128.61 | 24 | | OP | 1,283.727754 | $349.97 | $318.16 | $31.82 | $22.27 | $9.54 | 9 | | USDT0 | 39.637300 | $39.64 | $36.04 | $3.60 | $2.52 | $1.08 | 1 | ## Moonbeam | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | GLMR | 0.10 | 8223.95M% | 70.21% | | xcDOT | 0.10 | 19.61M% | 48.21% | | FRAX | 0.10 | 194.49K% | 46.64% | | xcUSDC | 0.10 | 21.81M% | 39.60% | | xcUSDT | 0.10 | 20.51M% | 25.35% | | USDC.wh | 0.10 | 16.63M% | 16.87% | | BTC.wh | 0.10 | 93.00% | 7.82% | | ETH.wh | 0.10 | 1.10K% | 3.98% | ![moonbeam](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/0/06bd7b9b7cd6a85156984eb1daab8e8824f1d8f1.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | GLMR | +2% from 8.16M GLMR to 8.29M GLMR | +4% from 11.46M GLMR to 11.93M GLMR | -2% from 71.16% to 69.45% | | xcDOT | +0% from 19.61K xcDOT to 19.62K xcDOT | +0% from 1.10M xcDOT to 1.11M xcDOT | -0% from 48.26% to 48.23% | | FRAX | -0% from 194.51 FRAX to 194.27 FRAX | +0% from 38.71K FRAX to 38.71K FRAX | -0% from 46.64% to 46.64% | | xcUSDC | -27% from 24.32K xcUSDC to 17.73K xcUSDC | +0% from 55.05K xcUSDC to 55.15K xcUSDC | -27% from 44.17% to 32.14% | | xcUSDT | -4% from 20.64K xcUSDT to 19.88K xcUSDT | +0% from 80.88K xcUSDT to 80.90K xcUSDT | -4% from 25.52% to 24.57% | | USDC.wh | -10% from 17.20K USDC.wh to 15.54K USDC.wh | -0% from 98.60K USDC.wh to 98.52K USDC.wh | -10% from 17.45% to 15.77% | | BTC.wh | 0% from 0.09 BTC.wh to 0.09 BTC.wh | 0% from 1.19 BTC.wh to 1.19 BTC.wh | 0% from 7.82% to 7.82% | | ETH.wh | +0% from 1.10 ETH.wh to 1.10 ETH.wh | +0% from 27.58 ETH.wh to 27.58 ETH.wh | +0% from 3.98% to 3.99% | ### Liquidations - **Total liquidations:** 87 - **Total Collateral Seized (USD):** $9,549.90 - **Total Debt Repaid (USD):** $8,681.73 - **Total Liquidation Bonus (USD):** $868.17 - **Total Liquidator Bonus (USD):** $607.72 - **Total Protocol Bonus (USD):** $260.45 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | xcDOT | 3,995.444520 | $7,604.11 | $6,912.83 | $691.28 | $483.90 | $207.38 | 54 | | GLMR | 77,449.494941 | $1,891.21 | $1,719.28 | $171.93 | $120.35 | $51.58 | 17 | | xcUSDC | 53.682180 | $53.68 | $48.80 | $4.88 | $3.42 | $1.46 | 15 | | ETH\_wh | 0.000319 | $0.90 | $0.81 | $0.08 | $0.06 | $0.02 | 1 | ## Moonriver | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | xcKSM | 0.10 | 6.40M% | 47.93% | | FRAX | 0.10 | 50.38M% | 17.61% | | MOVR | 0.10 | 2.41M% | 1.82% | ![moonriver](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/4/469d608be2b99cc9268075d5435eb69215756f6c.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | xcKSM | -2% from 6.51K xcKSM to 6.39K xcKSM | -2% from 13.50K xcKSM to 13.22K xcKSM | +0% from 48.19% to 48.36% | | FRAX | -2% from 50.59K FRAX to 49.82K FRAX | -6% from 303.16K FRAX to 283.72K FRAX | +5% from 16.69% to 17.56% | | MOVR | -13% from 2.73K MOVR to 2.38K MOVR | -1% from 134.31K MOVR to 132.35K MOVR | -12% from 2.03% to 1.80% | ### Liquidations - **Total liquidations:** 23 - **Total Collateral Seized (USD):** $983.33 - **Total Debt Repaid (USD):** $893.93 - **Total Liquidation Bonus (USD):** $89.39 - **Total Liquidator Bonus (USD):** $62.58 - **Total Protocol Bonus (USD):** $26.82 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | MOVR | 200.490741 | $516.25 | $469.32 | $46.93 | $32.85 | $14.08 | 18 | | xcKSM | 65.959186 | $467.08 | $424.62 | $42.46 | $29.72 | $12.74 | 5 | ---
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [December 25, 2025, 2:52pm UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/46 "2025-12-25T14:52:15Z")
# Weekly Update (12/19/25 - 12/25/25) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, Moonbeam, and Moonriver. Data from 12/19/25 to 12/25/25. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | USDS | 690.00K | 750.00K | 1.07% | 1.24% | 79.42% | | USDC | 184.00M | 200.00M | 13.95% | 16.26% | 78.94% | | WETH | 64.00K | 96.00K | 8.71% | 7.82% | 74.22% | | EURC | 21.00M | 21.90M | 5.85% | 8.45% | 66.66% | | cbXRP | 1.60M | 5.00M | 94.82% | 57.12% | 53.12% | | DAI | 300.00K | 400.00K | 3.98% | 5.64% | 52.87% | | VIRTUAL | 10.00K | 4.50M | 19.65K% | 96.58% | 45.21% | | AERO | 25.00M | 70.00M | 25.35% | 28.80% | 31.44% | | cbBTC | 640.00 | 1.50K | 8.05% | 21.13% | 16.26% | | weETH | 200.00 | 5.40K | 6.47% | 1.65% | 14.52% | | tBTC | 5.00 | 90.00 | 12.74% | 5.10% | 13.89% | | USDbC | 1.00 | 1.00 | 104.22K% | 844.16K% | 12.35% | | MAMO | 3.00M | 20.00M | 11.42% | 15.19% | 11.34% | | LBTC | 10.00 | 95.00 | 32.02% | 31.10% | 10.84% | | cbETH | 6.40K | 16.00K | 1.71% | 7.87% | 8.71% | | WELL | 10.00M | 250.00M | 118.95% | 77.43% | 6.15% | | MORPHO | 100.00K | 6.00M | 220.15% | 90.56% | 4.06% | | wstETH | 4.80K | 14.40K | 3.11% | 26.54% | 3.90% | | rETH | 200.00 | 2.60K | 10.43% | 31.58% | 2.54% | | wrsETH | 0.00 | 1.00 | 0.00% | 8.37K% | 0.02% | ![image](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/e/e074b58c0901544f941cf92b712a11fd9c671272.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | USDS | +1% from 7.89K USDS to 7.95K USDS | +1% from 9.22K USDS to 9.33K USDS | -0% from 85.51% to 85.24% | | USDC | +1% from 25.68M USDC to 25.82M USDC | -1% from 32.85M USDC to 32.58M USDC | +1% from 78.18% to 79.24% | | WETH | -5% from 5.75K WETH to 5.45K WETH | -4% from 7.74K WETH to 7.43K WETH | -1% from 74.35% to 73.32% | | EURC | -1% from 1.24M EURC to 1.23M EURC | +1% from 1.76M EURC to 1.77M EURC | -1% from 70.38% to 69.42% | | cbXRP | +6% from 1.50M cbXRP to 1.60M cbXRP | +1% from 2.84M cbXRP to 2.88M cbXRP | +5% from 52.89% to 55.61% | | DAI | +7% from 11.34K DAI to 12.13K DAI | +0% from 22.56K DAI to 22.58K DAI | +7% from 50.26% to 53.69% | | VIRTUAL | +0% from 1.96M VIRTUAL to 1.97M VIRTUAL | +0% from 4.32M VIRTUAL to 4.33M VIRTUAL | -0% from 45.40% to 45.39% | | AERO | -9% from 6.68M AERO to 6.11M AERO | +0% from 20.25M AERO to 20.28M AERO | -9% from 32.98% to 30.11% | | cbBTC | -6% from 53.02 cbBTC to 49.79 cbBTC | -1% from 319.13 cbBTC to 315.83 cbBTC | -5% from 16.61% to 15.76% | | weETH | +0% from 12.95 weETH to 12.95 weETH | -0% from 89.19 weETH to 89.18 weETH | +0% from 14.52% to 14.52% | | tBTC | +0% from 0.64 tBTC to 0.64 tBTC | -2% from 4.62 tBTC to 4.52 tBTC | +2% from 13.78% to 14.09% | | USDbC | -3% from 1.08K USDbC to 1.04K USDbC | -0% from 8.44K USDbC to 8.44K USDbC | -3% from 12.75% to 12.32% | | MAMO | -29% from 399.88K MAMO to 285.37K MAMO | +6% from 2.92M MAMO to 3.11M MAMO | -33% from 13.68% to 9.17% | | LBTC | +3% from 3.15 LBTC to 3.24 LBTC | +1% from 29.12 LBTC to 29.29 LBTC | +2% from 10.83% to 11.07% | | cbETH | +1% from 108.92 cbETH to 109.66 cbETH | +0% from 1.26K cbETH to 1.26K cbETH | +1% from 8.66% to 8.72% | | WELL | -0% from 11.91M WELL to 11.89M WELL | -3% from 199.53M WELL to 194.24M WELL | +3% from 5.97% to 6.12% | | MORPHO | -0% from 220.17K MORPHO to 220.15K MORPHO | +12% from 5.27M MORPHO to 5.92M MORPHO | -11% from 4.18% to 3.72% | | wstETH | -0% from 149.36 wstETH to 149.11 wstETH | +3% from 3.77K wstETH to 3.88K wstETH | -3% from 3.96% to 3.84% | | rETH | -0% from 20.89 rETH to 20.82 rETH | +1% from 815.99 rETH to 824.18 rETH | -1% from 2.56% to 2.53% | | wrsETH | 0% from 0.01 wrsETH to 0.01 wrsETH | -1% from 84.38 wrsETH to 83.38 wrsETH | +1% from 0.02% to 0.02% | ### Notable Trends - MORPHO supply +12% (5.27M → 5.92M MORPHO) ### Liquidations - **Total liquidations:** 49 - **Total Collateral Seized (USD):** $66,710.94 - **Total Debt Repaid (USD):** $60,646.31 - **Total Liquidation Bonus (USD):** $6,064.63 - **Total Liquidator Bonus (USD):** $4,245.24 - **Total Protocol Bonus (USD):** $1,819.39 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | WELL | 7,550,771.196000 | $59,630.79 | $54,209.81 | $5,420.98 | $3,794.69 | $1,626.29 | 11 | | USDC | 4,104.339750 | $4,103.53 | $3,730.49 | $373.05 | $261.13 | $111.91 | 6 | | AERO | 5,529.293620 | $2,572.81 | $2,338.92 | $233.89 | $163.72 | $70.17 | 13 | | cbXRP | 138.822010 | $247.34 | $224.85 | $22.49 | $15.74 | $6.75 | 2 | | WETH | 0.048694 | $144.37 | $131.25 | $13.12 | $9.19 | $3.94 | 14 | | cbETH | 0.002681 | $9.06 | $8.24 | $0.82 | $0.58 | $0.25 | 1 | | EURC | 2.581330 | $3.02 | $2.75 | $0.27 | $0.19 | $0.08 | 2 | ## OP Mainnet | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | WETH | 30.00K | 32.00K | 7.61% | 8.94% | 79.72% | | USDT | 18.40M | 22.60M | 0.63% | 0.70% | 73.34% | | DAI | 4.50M | 4.80M | 0.86% | 1.24% | 64.47% | | USDT0 | 8.00M | 10.00M | 0.86% | 1.11% | 61.99% | | WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 61.62% | | USDC | 34.00M | 36.40M | 1.45% | 2.63% | 51.24% | | cbETH | 0.00 | 10.00 | 0.00% | 2.73% | 36.79% | | OP | 650.00K | 5.60M | 54.29% | 17.60% | 35.81% | | VELO | 20.00M | 80.00M | 46.49% | 47.80% | 24.32% | | rETH | 340.00 | 750.00 | 0.72% | 2.92% | 11.27% | | wstETH | 1.50K | 5.00K | 0.38% | 3.43% | 3.33% | | weETH | 4.00 | 10.00 | 27.04% | 462.73% | 2.34% | | wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.83% | ![image1](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/b/bb941486dff2a2899b37f01c4dd26944c55a6fa4.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | WETH | -1% from 2.29K WETH to 2.27K WETH | -0% from 2.86K WETH to 2.86K WETH | -1% from 80.16% to 79.38% | | USDT | -27% from 138.95K USDT to 101.44K USDT | -20% from 176.61K USDT to 140.96K USDT | -9% from 78.68% to 71.97% | | DAI | +0% from 38.49K DAI to 38.52K DAI | +0% from 59.70K DAI to 59.74K DAI | +0% from 64.47% to 64.48% | | USDT0 | +0% from 68.69K USDT0 to 68.74K USDT0 | -1% from 111.25K USDT0 to 110.53K USDT0 | +1% from 61.74% to 62.20% | | WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.01 WBTC to 0.01 WBTC | 0% from 61.62% to 61.62% | | USDC | -29% from 612.62K USDC to 437.26K USDC | -16% from 1.05M USDC to 884.95K USDC | -15% from 58.13% to 49.41% | | cbETH | 0% from 0.10 cbETH to 0.10 cbETH | 0% from 0.27 cbETH to 0.27 cbETH | 0% from 36.79% to 36.79% | | OP | +4% from 347.20K OP to 362.24K OP | +1% from 982.54K OP to 994.35K OP | +3% from 35.34% to 36.43% | | VELO | -5% from 9.70M VELO to 9.23M VELO | -7% from 40.71M VELO to 37.89M VELO | +2% from 23.84% to 24.36% | | rETH | 0% from 2.46 rETH to 2.46 rETH | 0% from 21.86 rETH to 21.86 rETH | 0% from 11.27% to 11.27% | | wstETH | -3% from 5.76 wstETH to 5.59 wstETH | -4% from 173.18 wstETH to 166.80 wstETH | +1% from 3.33% to 3.35% | | weETH | -0% from 1.08 weETH to 1.08 weETH | -1% from 46.51 weETH to 46.12 weETH | +1% from 2.33% to 2.34% | | wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | 0% from 15.14 wrsETH to 15.14 wrsETH | 0% from 1.83% to 1.83% | ### Notable Trends - USDC borrows -29% (612.62K → 437.26K USDC) - USDC supply -16% (1.05M → 884.95K USDC) ### Liquidations No liquidation events this week. ## Moonbeam | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | GLMR | 0.10 | 8360.53M% | 69.73% | | xcDOT | 0.10 | 19.62M% | 48.21% | | FRAX | 0.10 | 194.27K% | 46.64% | | xcUSDC | 0.10 | 17.54M% | 31.82% | | xcUSDT | 0.10 | 19.03M% | 23.52% | | USDC.wh | 0.10 | 15.15M% | 15.37% | | BTC.wh | 0.10 | 97.87% | 8.23% | | ETH.wh | 0.10 | 1.09K% | 3.96% | ![image2](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/6/625abf5fb087a95591154c8b85823c859681b0d5.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | GLMR | +2% from 8.30M GLMR to 8.43M GLMR | +1% from 11.94M GLMR to 12.05M GLMR | +1% from 69.48% to 69.93% | | xcDOT | +0% from 19.62K xcDOT to 19.62K xcDOT | +0% from 1.10M xcDOT to 1.11M xcDOT | -0% from 48.25% to 48.21% | | FRAX | 0% from 194.27 FRAX to 194.27 FRAX | 0% from 38.71K FRAX to 38.71K FRAX | 0% from 46.64% to 46.64% | | xcUSDC | -1% from 17.73K xcUSDC to 17.51K xcUSDC | +0% from 55.15K xcUSDC to 55.20K xcUSDC | -1% from 32.15% to 31.71% | | xcUSDT | -2% from 19.34K xcUSDT to 19.02K xcUSDT | -0% from 80.90K xcUSDT to 80.89K xcUSDT | -2% from 23.91% to 23.51% | | USDC.wh | -3% from 15.43K USDC.wh to 14.92K USDC.wh | +0% from 98.52K USDC.wh to 98.54K USDC.wh | -3% from 15.66% to 15.14% | | BTC.wh | +7% from 0.09 BTC.wh to 0.10 BTC.wh | +0% from 1.19 BTC.wh to 1.19 BTC.wh | +7% from 7.82% to 8.40% | | ETH.wh | -1% from 1.10 ETH.wh to 1.09 ETH.wh | -0% from 27.58 ETH.wh to 27.56 ETH.wh | -1% from 3.99% to 3.96% | ### Liquidations - **Total liquidations:** 42 - **Total Collateral Seized (USD):** $381.37 - **Total Debt Repaid (USD):** $346.70 - **Total Liquidation Bonus (USD):** $34.67 - **Total Liquidator Bonus (USD):** $24.27 - **Total Protocol Bonus (USD):** $10.40 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | xcDOT | 207.113232 | $355.74 | $323.40 | $32.34 | $22.64 | $9.70 | 31 | | GLMR | 1,102.142580 | $25.47 | $23.15 | $2.32 | $1.62 | $0.69 | 10 | | BTC\_wh | 0.000002 | $0.16 | $0.15 | $0.01 | $0.01 | $0.00 | 1 | ## Moonriver | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | xcKSM | 0.10 | 5.71M% | 45.69% | | FRAX | 0.10 | 48.85M% | 17.33% | | MOVR | 0.10 | 1.59M% | 1.22% | ![image4](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/2/2524488490737aad05528f750defb3c41535d357.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | xcKSM | -13% from 6.39K xcKSM to 5.59K xcKSM | -7% from 13.22K xcKSM to 12.35K xcKSM | -7% from 48.36% to 45.21% | | FRAX | -2% from 49.82K FRAX to 48.87K FRAX | -1% from 283.72K FRAX to 281.12K FRAX | -1% from 17.56% to 17.39% | | MOVR | **-42% from 2.38K MOVR to 1.39K MOVR** | -1% from 132.35K MOVR to 130.48K MOVR | **-41% from 1.80% to 1.07%** | ### Liquidations - **Total liquidations:** 136 - **Total Collateral Seized (USD):** $10,682.20 - **Total Debt Repaid (USD):** $9,711.09 - **Total Liquidation Bonus (USD):** $971.11 - **Total Liquidator Bonus (USD):** $679.78 - **Total Protocol Bonus (USD):** $291.33 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | xcKSM | 881.587235 | $6,270.57 | $5,700.51 | $570.05 | $399.04 | $171.02 | 32 | | MOVR | 1,551.816810 | $3,867.23 | $3,515.67 | $351.57 | $246.10 | $105.47 | 94 | | FRAX | 548.694970 | $544.41 | $494.92 | $49.49 | $34.64 | $14.85 | 10 | ---
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [January 1, 2026, 4:49pm UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/47 "2026-01-01T16:49:03Z")
# Weekly Update (12/26/25 - 1/1/26) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, Moonbeam, and Moonriver. Data from 12/26/25 to 1/1/26. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | USDS | 690.00K | 750.00K | 1.15% | 1.23% | 86.40% | | USDC | 184.00M | 200.00M | 14.07% | 16.39% | 79.01% | | WETH | 64.00K | 96.00K | 8.51% | 7.56% | 75.05% | | EURC | 21.00M | 21.90M | 5.84% | 8.16% | 68.86% | | DAI | 300.00K | 400.00K | 4.20% | 5.66% | 55.69% | | cbXRP | 1.60M | 5.00M | 100.09% | 57.95% | 55.27% | | VIRTUAL | 10.00K | 4.50M | 19.70K% | 96.79% | 45.23% | | AERO | 25.00M | 70.00M | 24.56% | 29.04% | 30.21% | | cbBTC | 640.00 | 1.50K | 7.52% | 20.89% | 15.36% | | weETH | 200.00 | 5.40K | 6.48% | 1.65% | 14.54% | | LBTC | 10.00 | 95.00 | 39.39% | 31.27% | 13.26% | | tBTC | 5.00 | 50.00 | 12.84% | 9.87% | 13.21% | | USDbC | 1.00 | 1.00 | 104.00K% | 843.84K% | 12.32% | | MAMO | 3.00M | 20.00M | 9.21% | 15.34% | 9.01% | | cbETH | 6.40K | 16.00K | 1.69% | 7.91% | 8.56% | | WELL | 10.00M | 250.00M | 118.84% | 79.06% | 6.01% | | wstETH | 4.80K | 14.40K | 3.10% | 27.10% | 3.82% | | MORPHO | 100.00K | 6.00M | 220.14% | 98.65% | 3.72% | | rETH | 200.00 | 2.60K | 10.43% | 31.71% | 2.53% | | wrsETH | 0.00 | 1.00 | 0.00% | 8.13K% | 0.02% | ![image1](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/9/9910cbf8e79f27bb8d2d399bfd9fcb576c40c164.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | USDS | -0% from 7.96K USDS to 7.94K USDS | +2% from 9.23K USDS to 9.40K USDS | -2% from 86.17% to 84.47% | | USDC | -0% from 25.82M USDC to 25.77M USDC | +1% from 32.71M USDC to 33.08M USDC | -1% from 78.94% to 77.91% | | WETH | -9% from 5.73K WETH to 5.21K WETH | -10% from 7.64K WETH to 6.91K WETH | +0% from 75.07% to 75.43% | | EURC | -5% from 1.29M EURC to 1.22M EURC | +9% from 1.77M EURC to 1.93M EURC | -14% from 72.94% to 63.08% | | DAI | +6% from 12.13K DAI to 12.81K DAI | +0% from 22.58K DAI to 22.64K DAI | +5% from 53.69% to 56.59% | | cbXRP | +0% from 1.60M cbXRP to 1.60M cbXRP | +1% from 2.87M cbXRP to 2.91M cbXRP | -1% from 55.70% to 55.13% | | VIRTUAL | +0% from 1.97M VIRTUAL to 1.97M VIRTUAL | +0% from 4.34M VIRTUAL to 4.35M VIRTUAL | -0% from 45.37% to 45.37% | | AERO | +2% from 6.09M AERO to 6.19M AERO | +0% from 20.29M AERO to 20.30M AERO | +1% from 30.03% to 30.47% | | cbBTC | -5% from 49.92 cbBTC to 47.56 cbBTC | -0% from 314.89 cbBTC to 313.56 cbBTC | -4% from 15.85% to 15.17% | | weETH | +0% from 12.95 weETH to 12.99 weETH | +0% from 89.18 weETH to 89.22 weETH | +0% from 14.52% to 14.56% | | LBTC | +24% from 3.24 LBTC to 4.01 LBTC | +1% from 29.28 LBTC to 29.52 LBTC | +23% from 11.07% to 13.58% | | tBTC | +1% from 0.64 tBTC to 0.64 tBTC | -0% from 4.52 tBTC to 4.52 tBTC | +1% from 14.09% to 14.24% | | USDbC | +0% from 1.04K USDbC to 1.04K USDbC | -0% from 8.44K USDbC to 8.44K USDbC | +0% from 12.32% to 12.33% | | MAMO | +7% from 285.37K MAMO to 305.57K MAMO | -1% from 3.13M MAMO to 3.10M MAMO | +8% from 9.12% to 9.87% | | cbETH | -3% from 109.66 cbETH to 106.77 cbETH | +2% from 1.26K cbETH to 1.28K cbETH | -4% from 8.72% to 8.34% | | WELL | -0% from 11.89M WELL to 11.87M WELL | +1% from 198.45M WELL to 199.65M WELL | -1% from 5.99% to 5.94% | | wstETH | -0% from 149.11 wstETH to 148.88 wstETH | -1% from 3.88K wstETH to 3.86K wstETH | +0% from 3.84% to 3.86% | | MORPHO | -0% from 220.15K MORPHO to 220.14K MORPHO | -0% from 5.92M MORPHO to 5.90M MORPHO | +0% from 3.72% to 3.73% | | rETH | +0% from 20.82 rETH to 20.90 rETH | +0% from 824.18 rETH to 824.51 rETH | +0% from 2.53% to 2.53% | | wrsETH | 0% from 0.01 wrsETH to 0.01 wrsETH | -5% from 83.38 wrsETH to 78.88 wrsETH | +6% from 0.02% to 0.02% | ### Notable Trends - WETH supply -10% (7.64K → 6.91K WETH) - WETH borrows -9% (5.73K → 5.21K WETH) - EURC supply +9% (1.77M → 1.93M EURC) ### Liquidations - **Total liquidations:** 164 - **Total Collateral Seized (USD):** $89,831.29 - **Total Debt Repaid (USD):** $81,664.81 - **Total Liquidation Bonus (USD):** $8,166.48 - **Total Liquidator Bonus (USD):** $5,716.54 - **Total Protocol Bonus (USD):** $2,449.94 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | AERO | 128,743.125259 | $55,878.18 | $50,798.34 | $5,079.83 | $3,555.88 | $1,523.95 | 116 | | cbBTC | 0.291123 | $25,524.98 | $23,204.52 | $2,320.45 | $1,624.32 | $696.14 | 4 | | WETH | 2.138654 | $6,329.89 | $5,754.45 | $575.44 | $402.81 | $172.63 | 25 | | WELL | 283,280.896200 | $2,010.31 | $1,827.55 | $182.76 | $127.93 | $54.83 | 11 | | USDC | 49.826550 | $49.81 | $45.29 | $4.53 | $3.17 | $1.36 | 4 | | VIRTUAL | 39.552600 | $25.80 | $23.45 | $2.35 | $1.64 | $0.70 | 1 | | wstETH | 0.002882 | $10.34 | $9.40 | $0.94 | $0.66 | $0.28 | 2 | | rETH | 0.000577 | $1.99 | $1.81 | $0.18 | $0.13 | $0.05 | 1 | ## OP Mainnet | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | WETH | 30.00K | 32.00K | 7.07% | 8.48% | 77.93% | | DAI | 4.50M | 4.80M | 0.89% | 1.11% | 76.33% | | USDT | 18.40M | 22.60M | 0.66% | 0.72% | 75.19% | | USDT0 | 8.00M | 10.00M | 0.91% | 1.04% | 70.28% | | USDC | 34.00M | 36.40M | 1.79% | 2.71% | 61.75% | | WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 61.62% | | cbETH | 0.00 | 10.00 | 0.00% | 2.73% | 36.79% | | OP | 650.00K | 5.60M | 55.41% | 17.74% | 36.26% | | VELO | 20.00M | 80.00M | 45.18% | 46.83% | 24.15% | | rETH | 340.00 | 750.00 | 0.72% | 2.92% | 11.27% | | wstETH | 1.50K | 5.00K | 0.44% | 3.24% | 4.09% | | weETH | 4.00 | 10.00 | 27.02% | 459.47% | 2.35% | | wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.83% | ![image2](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/7/785a7cfaf2e8c3396e7042f1aa61229ac8f54437.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | WETH | **-49% from 2.27K WETH to 1.16K WETH** | **-42% from 2.86K WETH to 1.67K WETH** | -12% from 79.38% to 69.79% | | DAI | +14% from 38.52K DAI to 44.01K DAI | -17% from 59.74K DAI to 49.36K DAI | +38% from 64.48% to 89.16% | | USDT | **+56% from 101.46K USDT to 158.77K USDT** | -1% from 192.97K USDT to 190.23K USDT | **+59% from 52.58% to 83.46%** | | USDT0 | +0% from 68.75K USDT0 to 68.77K USDT0 | -6% from 110.51K USDT0 to 103.49K USDT0 | +7% from 62.21% to 66.45% | | USDC | -29% from 607.71K USDC to 429.66K USDC | -19% from 1.00M USDC to 811.83K USDC | -13% from 60.61% to 52.92% | | WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.01 WBTC to 0.01 WBTC | 0% from 61.62% to 61.62% | | cbETH | 0% from 0.10 cbETH to 0.10 cbETH | 0% from 0.27 cbETH to 0.27 cbETH | 0% from 36.79% to 36.79% | | OP | -11% from 362.07K OP to 321.38K OP | -0% from 994.36K OP to 993.09K OP | -11% from 36.41% to 32.36% | | VELO | +1% from 9.23M VELO to 9.33M VELO | -7% from 37.89M VELO to 35.13M VELO | +9% from 24.37% to 26.55% | | rETH | +0% from 2.46 rETH to 2.47 rETH | -0% from 21.86 rETH to 21.86 rETH | +0% from 11.27% to 11.28% | | wstETH | +27% from 5.59 wstETH to 7.09 wstETH | -4% from 166.80 wstETH to 160.50 wstETH | +32% from 3.35% to 4.41% | | weETH | -0% from 1.08 weETH to 1.08 weETH | -0% from 46.12 weETH to 45.93 weETH | +0% from 2.34% to 2.35% | | wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | 0% from 15.14 wrsETH to 15.14 wrsETH | 0% from 1.83% to 1.83% | ### Notable Trends - WETH supply -42% (2.86K → 1.67K WETH) - WETH borrows -49% (2.27K → 1.16K WETH) - USDC supply -19% (1.00M → 811.83K USDC) - USDC borrows -29% (607.71K → 429.66K USDC) - USDT borrows +56% (101.46K → 158.77K USDT) ### Liquidations - **Total liquidations:** 12 - **Total Collateral Seized (USD):** $1,833.68 - **Total Debt Repaid (USD):** $1,666.98 - **Total Liquidation Bonus (USD):** $166.70 - **Total Liquidator Bonus (USD):** $116.69 - **Total Protocol Bonus (USD):** $50.01 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | VELO | 101,279.370500 | $1,833.68 | $1,666.98 | $166.70 | $116.69 | $50.01 | 12 | ## Moonbeam | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | GLMR | 0.10 | 8494.27M% | 70.84% | | xcDOT | 0.10 | 19.62M% | 48.23% | | FRAX | 0.10 | 194.27K% | 46.64% | | xcUSDC | 0.10 | 17.37M% | 31.46% | | xcUSDT | 0.10 | 19.02M% | 23.52% | | USDC.wh | 0.10 | 14.61M% | 14.87% | | BTC.wh | 0.10 | 99.70% | 8.39% | | ETH.wh | 0.10 | 1.09K% | 3.96% | ![image3](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/4/474d580401461b8dc3b58683328210aab3b5b9f6.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | GLMR | +2% from 8.43M GLMR to 8.56M GLMR | -0% from 12.05M GLMR to 12.04M GLMR | +2% from 69.93% to 71.16% | | xcDOT | -0% from 19.62K xcDOT to 19.62K xcDOT | -0% from 1.11M xcDOT to 1.11M xcDOT | +0% from 48.21% to 48.23% | | FRAX | 0% from 194.27 FRAX to 194.27 FRAX | 0% from 38.71K FRAX to 38.71K FRAX | 0% from 46.64% to 46.64% | | xcUSDC | -1% from 17.51K xcUSDC to 17.30K xcUSDC | +0% from 55.20K xcUSDC to 55.22K xcUSDC | -1% from 31.71% to 31.33% | | xcUSDT | +0% from 19.02K xcUSDT to 19.03K xcUSDT | +0% from 80.89K xcUSDT to 80.90K xcUSDT | +0% from 23.51% to 23.52% | | USDC.wh | -2% from 14.92K USDC.wh to 14.60K USDC.wh | -0% from 98.54K USDC.wh to 98.17K USDC.wh | -2% from 15.14% to 14.87% | | BTC.wh | -0% from 0.10 BTC.wh to 0.10 BTC.wh | +0% from 1.19 BTC.wh to 1.19 BTC.wh | -0% from 8.40% to 8.39% | | ETH.wh | +0% from 1.09 ETH.wh to 1.09 ETH.wh | +0% from 27.56 ETH.wh to 27.56 ETH.wh | +0% from 3.96% to 3.96% | ### Liquidations - **Total liquidations:** 22 - **Total Collateral Seized (USD):** $308.89 - **Total Debt Repaid (USD):** $280.81 - **Total Liquidation Bonus (USD):** $28.08 - **Total Liquidator Bonus (USD):** $19.66 - **Total Protocol Bonus (USD):** $8.42 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | xcDOT | 160.370381 | $266.57 | $242.34 | $24.23 | $16.96 | $7.27 | 12 | | GLMR | 1,815.033985 | $42.32 | $38.47 | $3.85 | $2.69 | $1.15 | 10 | ## Moonriver | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | xcKSM | 0.10 | 5.59M% | 45.22% | | FRAX | 0.10 | 48.98M% | 17.41% | | MOVR | 0.10 | 1.39M% | 1.07% | ![image4](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/c/c58f45adb6bdf0131163e3f624a151b8ce06dad0.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | xcKSM | +0% from 5.59K xcKSM to 5.59K xcKSM | -0% from 12.35K xcKSM to 12.33K xcKSM | +0% from 45.21% to 45.31% | | FRAX | +1% from 48.87K FRAX to 49.23K FRAX | +0% from 281.12K FRAX to 281.85K FRAX | +0% from 17.39% to 17.47% | | MOVR | +0% from 1.39K MOVR to 1.39K MOVR | -1% from 130.48K MOVR to 129.44K MOVR | +1% from 1.07% to 1.07% | ### Liquidations No liquidation events this week. ---
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [January 8, 2026, 2:43pm UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/48 "2026-01-08T14:43:07Z")
# Weekly Update (1/2/26 - 1/8/26) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, Moonbeam, and Moonriver. Data from 1/2/26 to 1/8/26. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | USDS | 690.00K | 750.00K | 1.16% | 1.19% | 89.70% | | WETH | 64.00K | 96.00K | 9.53% | 7.86% | 80.76% | | USDC | 184.00M | 200.00M | 13.94% | 16.44% | 78.02% | | EURC | 21.00M | 21.90M | 5.72% | 7.90% | 69.71% | | DAI | 300.00K | 400.00K | 4.29% | 5.68% | 56.61% | | cbXRP | 1.60M | 5.00M | 99.57% | 57.34% | 55.93% | | VIRTUAL | 10.00K | 4.50M | 19.75K% | 90.11% | 48.77% | | AERO | 25.00M | 70.00M | 20.40% | 29.06% | 25.06% | | tBTC | 5.00 | 50.00 | 12.86% | 9.04% | 14.23% | | cbBTC | 640.00 | 1.50K | 6.72% | 20.43% | 14.03% | | weETH | 200.00 | 5.40K | 6.05% | 1.65% | 13.54% | | LBTC | 10.00 | 95.00 | 39.83% | 31.79% | 13.20% | | MAMO | 3.00M | 20.00M | 16.55% | 18.35% | 12.99% | | USDbC | 1.00 | 1.00 | 104.01K% | 843.51K% | 12.33% | | cbETH | 1.00K | 16.00K | 12.24% | 8.03% | 9.51% | | WELL | 22.00M | 250.00M | 60.58% | 81.93% | 6.50% | | wstETH | 1.20K | 14.40K | 12.33% | 26.90% | 3.82% | | MORPHO | 100.00K | 6.00M | 220.10% | 98.91% | 3.71% | | rETH | 200.00 | 2.60K | 10.44% | 31.43% | 2.56% | | wrsETH | 0.10 | 1.00 | 0.00% | 6.61K% | 0.02% | ![image1](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/7/7e69856f0de910ea74c032e4aefabfeea191b50c.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | USDS | +1% from 7.94K USDS to 8.05K USDS | -5% from 9.40K USDS to 8.93K USDS | +7% from 84.47% to 90.22% | | WETH | +15% from 5.21K WETH to 6.02K WETH | +9% from 6.89K WETH to 7.49K WETH | +6% from 75.63% to 80.41% | | USDC | +0% from 25.77M USDC to 25.80M USDC | -1% from 33.10M USDC to 32.67M USDC | +1% from 77.86% to 78.99% | | EURC | -2% from 1.22M EURC to 1.19M EURC | -13% from 1.90M EURC to 1.65M EURC | +12% from 64.08% to 71.92% | | DAI | +0% from 12.81K DAI to 12.84K DAI | +1% from 22.64K DAI to 22.79K DAI | -0% from 56.59% to 56.31% | | cbXRP | -2% from 1.60M cbXRP to 1.57M cbXRP | +8% from 2.94M cbXRP to 3.17M cbXRP | -9% from 54.56% to 49.52% | | VIRTUAL | +0% from 1.97M VIRTUAL to 1.98M VIRTUAL | -11% from 4.33M VIRTUAL to 3.86M VIRTUAL | +13% from 45.54% to 51.30% | | AERO | -22% from 6.11M AERO to 4.74M AERO | -1% from 20.31M AERO to 20.07M AERO | -22% from 30.08% to 23.61% | | tBTC | -0% from 0.64 tBTC to 0.64 tBTC | +0% from 4.52 tBTC to 4.52 tBTC | -0% from 14.24% to 14.21% | | cbBTC | -8% from 47.87 cbBTC to 43.93 cbBTC | -2% from 313.46 cbBTC to 306.65 cbBTC | -6% from 15.27% to 14.32% | | weETH | -8% from 12.99 weETH to 11.95 weETH | +0% from 89.22 weETH to 89.30 weETH | -8% from 14.56% to 13.38% | | LBTC | -1% from 4.01 LBTC to 3.97 LBTC | +5% from 29.52 LBTC to 30.90 LBTC | -5% from 13.58% to 12.84% | | MAMO | +13% from 305.58K MAMO to 345.12K MAMO | **+44% from 3.15M MAMO to 4.52M MAMO** | -21% from 9.71% to 7.63% | | USDbC | 0% from 1.04K USDbC to 1.04K USDbC | 0% from 8.44K USDbC to 8.44K USDbC | 0% from 12.33% to 12.33% | | cbETH | **+125% from 106.77 cbETH to 239.73 cbETH** | +2% from 1.28K cbETH to 1.31K cbETH | **+120% from 8.34% to 18.37%** | | WELL | **+85% from 11.87M WELL to 22.00M WELL** | +3% from 199.58M WELL to 206.40M WELL | **+79% from 5.95% to 10.66%** | | wstETH | -1% from 148.88 wstETH to 147.80 wstETH | +1% from 3.86K wstETH to 3.89K wstETH | -2% from 3.86% to 3.80% | | MORPHO | -0% from 220.14K MORPHO to 220.10K MORPHO | +1% from 5.90M MORPHO to 5.94M MORPHO | -1% from 3.73% to 3.71% | | rETH | -0% from 20.90 rETH to 20.89 rETH | -2% from 824.51 rETH to 810.32 rETH | +2% from 2.53% to 2.58% | | wrsETH | 0% from 0.01 wrsETH to 0.01 wrsETH | -30% from 78.88 wrsETH to 55.48 wrsETH | **+42% from 0.02% to 0.03%** | ### Notable Trends - WETH borrows +15% (5.21K → 6.02K WETH) - AERO borrows -22% (6.11M → 4.74M AERO) - cbETH borrows +125% (106.77 → 239.73 cbETH) - MAMO supply +44% (3.15M → 4.52M MAMO) ### Liquidations - **Total liquidations:** 50 - **Total Collateral Seized (USD):** $77,356.78 - **Total Debt Repaid (USD):** $70,324.35 - **Total Liquidation Bonus (USD):** $7,032.43 - **Total Liquidator Bonus (USD):** $4,922.70 - **Total Protocol Bonus (USD):** $2,109.73 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | cbXRP | 31,289.657800 | $71,002.30 | $64,547.54 | $6,454.75 | $4,518.33 | $1,936.43 | 4 | | cbBTC | 0.057659 | $5,277.61 | $4,797.83 | $479.78 | $335.85 | $143.93 | 6 | | WETH | 0.187413 | $600.71 | $546.10 | $54.61 | $38.23 | $16.38 | 24 | | AERO | 588.969380 | $342.27 | $311.15 | $31.12 | $21.78 | $9.33 | 7 | | VIRTUAL | 114.235000 | $117.83 | $107.12 | $10.71 | $7.50 | $3.21 | 1 | | USDC | 15.531172 | $15.53 | $14.12 | $1.41 | $0.99 | $0.42 | 7 | | EURC | 0.461197 | $0.54 | $0.49 | $0.05 | $0.03 | $0.01 | 1 | ## OP Mainnet | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | DAI | 4.50M | 4.80M | 0.71% | 0.81% | 81.30% | | USDT | 18.40M | 22.60M | 0.84% | 0.86% | 79.90% | | WETH | 30.00K | 32.00K | 3.92% | 5.22% | 70.41% | | WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 61.62% | | USDT0 | 8.00M | 10.00M | 0.78% | 1.03% | 60.26% | | USDC | 34.00M | 36.40M | 1.31% | 2.20% | 55.69% | | cbETH | 0.00 | 0.00 | 0.00% | 0.00% | 36.79% | | OP | 650.00K | 5.60M | 34.74% | 17.52% | 22.97% | | VELO | 20.00M | 80.00M | 32.90% | 44.87% | 18.49% | | rETH | 150.00 | 750.00 | 1.64% | 2.61% | 12.71% | | wstETH | 300.00 | 5.00K | 2.36% | 3.02% | 4.71% | | weETH | 4.00 | 10.00 | 27.02% | 456.55% | 2.37% | | wrsETH | 0.10 | 0.10 | 0.00% | 0.00% | 1.83% | ![image2](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/7/7de8a2219bee4d0f541ece19fc07c362d747bcb8.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | DAI | -35% from 44.01K DAI to 28.64K DAI | -27% from 49.36K DAI to 36.05K DAI | -11% from 89.16% to 79.44% | | USDT | -5% from 158.77K USDT to 150.63K USDT | -4% from 190.23K USDT to 181.94K USDT | -1% from 83.46% to 82.79% | | WETH | +1% from 1.16K WETH to 1.17K WETH | -1% from 1.67K WETH to 1.65K WETH | +2% from 69.66% to 70.95% | | WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.01 WBTC to 0.01 WBTC | 0% from 61.62% to 61.62% | | USDT0 | -14% from 68.77K USDT0 to 58.89K USDT0 | +0% from 103.49K USDT0 to 103.59K USDT0 | -14% from 66.45% to 56.84% | | USDC | **+42% from 437.95K USDC to 622.95K USDC** | +15% from 812.58K USDC to 935.05K USDC | +24% from 53.90% to 66.62% | | cbETH | 0% from 0.10 cbETH to 0.10 cbETH | 0% from 0.27 cbETH to 0.27 cbETH | 0% from 36.79% to 36.79% | | OP | -39% from 308.08K OP to 186.90K OP | -3% from 993.09K OP to 963.71K OP | -37% from 31.02% to 19.39% | | VELO | **-60% from 9.19M VELO to 3.72M VELO** | +5% from 35.04M VELO to 36.71M VELO | **-61% from 26.23% to 10.12%** | | rETH | +0% from 2.47 rETH to 2.47 rETH | -16% from 21.86 rETH to 18.25 rETH | +20% from 11.28% to 13.51% | | wstETH | +1% from 7.09 wstETH to 7.17 wstETH | -2% from 160.50 wstETH to 157.72 wstETH | +3% from 4.41% to 4.54% | | weETH | +0% from 1.08 weETH to 1.08 weETH | -1% from 45.93 weETH to 45.49 weETH | +1% from 2.35% to 2.38% | | wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | 0% from 15.14 wrsETH to 15.14 wrsETH | 0% from 1.83% to 1.83% | ### Notable Trends - USDC borrows +42% (437.95K → 622.95K USDC) - USDC supply +15% (812.58K → 935.05K USDC) - VELO borrows -60% (9.19M → 3.72M VELO) - OP borrows -39% (308.08K → 186.90K OP) ### Liquidations - **Total liquidations:** 2 - **Total Collateral Seized (USD):** $97.21 - **Total Debt Repaid (USD):** $88.37 - **Total Liquidation Bonus (USD):** $8.84 - **Total Liquidator Bonus (USD):** $6.19 - **Total Protocol Bonus (USD):** $2.65 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | DAI | 97.244100 | $97.21 | $88.37 | $8.84 | $6.19 | $2.65 | 2 | ## Moonbeam | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | GLMR | 0.10 | 8651.91M% | 68.09% | | xcDOT | 0.10 | 19.62M% | 48.26% | | FRAX | 0.10 | 194.27K% | 46.64% | | xcUSDC | 0.10 | 17.31M% | 31.33% | | xcUSDT | 0.10 | 19.02M% | 23.52% | | USDC.wh | 0.10 | 14.45M% | 14.72% | | BTC.wh | 0.10 | 99.70% | 8.39% | | ETH.wh | 0.10 | 1.09K% | 3.97% | ![image3](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/6/6efca829716a1bc767c535eb00d32845464172d3.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | GLMR | +2% from 8.59M GLMR to 8.72M GLMR | +6% from 12.14M GLMR to 12.88M GLMR | -4% from 70.71% to 67.72% | | xcDOT | +0% from 19.62K xcDOT to 19.62K xcDOT | -0% from 1.10M xcDOT to 1.10M xcDOT | +0% from 48.25% to 48.26% | | FRAX | 0% from 194.27 FRAX to 194.27 FRAX | 0% from 38.71K FRAX to 38.71K FRAX | 0% from 46.64% to 46.64% | | xcUSDC | +0% from 17.30K xcUSDC to 17.32K xcUSDC | +0% from 55.22K xcUSDC to 55.27K xcUSDC | +0% from 31.33% to 31.34% | | xcUSDT | -0% from 19.03K xcUSDT to 19.02K xcUSDT | -0% from 80.89K xcUSDT to 80.78K xcUSDT | +0% from 23.53% to 23.55% | | USDC.wh | -1% from 14.60K USDC.wh to 14.41K USDC.wh | +0% from 98.17K USDC.wh to 98.18K USDC.wh | -1% from 14.87% to 14.67% | | BTC.wh | 0% from 0.10 BTC.wh to 0.10 BTC.wh | 0% from 1.19 BTC.wh to 1.19 BTC.wh | 0% from 8.39% to 8.39% | | ETH.wh | +0% from 1.09 ETH.wh to 1.09 ETH.wh | +0% from 27.56 ETH.wh to 27.56 ETH.wh | +0% from 3.96% to 3.97% | ### Liquidations - **Total liquidations:** 2 - **Total Collateral Seized (USD):** $0.78 - **Total Debt Repaid (USD):** $0.71 - **Total Liquidation Bonus (USD):** $0.07 - **Total Liquidator Bonus (USD):** $0.05 - **Total Protocol Bonus (USD):** $0.02 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | GLMR | 31.521510 | $0.78 | $0.71 | $0.07 | $0.05 | $0.02 | 2 | ## Moonriver | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | xcKSM | 0.10 | 5.59M% | 45.31% | | FRAX | 0.10 | 49.23M% | 17.47% | | MOVR | 0.10 | 1.39M% | 1.07% | ![image4](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/7/7e8aaf22f474a4ef05602e7765e1f4af57f7effd.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | xcKSM | +0% from 5.59K xcKSM to 5.60K xcKSM | -0% from 12.33K xcKSM to 12.33K xcKSM | +0% from 45.31% to 45.43% | | FRAX | 0% from 49.23K FRAX to 49.23K FRAX | 0% from 281.85K FRAX to 281.85K FRAX | 0% from 17.47% to 17.47% | | MOVR | -1% from 1.39K MOVR to 1.38K MOVR | -0% from 129.44K MOVR to 129.32K MOVR | -0% from 1.07% to 1.07% | ### Liquidations No liquidation events this week. ---
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [January 15, 2026, 4:20pm UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/49 "2026-01-15T16:20:45Z")
# Weekly Update (1/9/26 - 1/15/26) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, Moonbeam, and Moonriver. Data from 1/9/26 to 1/15/26. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | USDS | 690.00K | 750.00K | 1.17% | 1.30% | 82.95% | | WETH | 64.00K | 96.00K | 8.90% | 7.45% | 79.67% | | USDC | 184.00M | 200.00M | 14.01% | 16.28% | 79.26% | | EURC | 21.00M | 21.90M | 5.72% | 7.86% | 69.86% | | DAI | 300.00K | 400.00K | 4.28% | 5.70% | 56.34% | | VIRTUAL | 10.00K | 4.50M | 19.80K% | 86.18% | 51.06% | | cbXRP | 1.60M | 5.00M | 99.57% | 63.97% | 49.81% | | AERO | 25.00M | 70.00M | 20.11% | 28.70% | 25.03% | | cbETH | 1.00K | 16.00K | 23.44% | 8.22% | 17.84% | | tBTC | 5.00 | 50.00 | 13.26% | 9.05% | 14.66% | | cbBTC | 640.00 | 1.50K | 6.97% | 20.41% | 14.57% | | weETH | 200.00 | 5.40K | 5.98% | 1.65% | 13.39% | | LBTC | 10.00 | 95.00 | 40.32% | 33.73% | 12.59% | | WELL | 22.00M | 250.00M | 99.86% | 82.58% | 10.64% | | wstETH | 1.20K | 14.40K | 12.32% | 26.88% | 3.82% | | MORPHO | 100.00K | 6.00M | 220.01% | 99.21% | 3.70% | | rETH | 200.00 | 2.60K | 10.45% | 31.15% | 2.58% | | wrsETH | 0.10 | 1.00 | 0.00% | 5.55K% | 0.03% | ![image1](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/c/c06d1ba8acbdfe1f5b4df24af16bc736a82831b9.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | USDS | +0% from 8.05K USDS to 8.08K USDS | +11% from 8.93K USDS to 9.88K USDS | -9% from 90.22% to 81.79% | | WETH | +0% from 6.02K WETH to 6.04K WETH | -2% from 7.48K WETH to 7.33K WETH | +2% from 80.55% to 82.31% | | USDC | -0% from 25.80M USDC to 25.75M USDC | +11% from 30.79M USDC to 34.13M USDC | -10% from 83.80% to 75.44% | | EURC | +0% from 1.19M EURC to 1.19M EURC | +4% from 1.70M EURC to 1.77M EURC | -4% from 69.69% to 67.13% | | DAI | -7% from 12.84K DAI to 12.00K DAI | +0% from 22.79K DAI to 22.84K DAI | -7% from 56.31% to 52.54% | | VIRTUAL | +0% from 1.98M VIRTUAL to 1.98M VIRTUAL | -0% from 3.90M VIRTUAL to 3.89M VIRTUAL | +0% from 50.76% to 50.98% | | cbXRP | +2% from 1.57M cbXRP to 1.60M cbXRP | +2% from 3.17M cbXRP to 3.24M cbXRP | -1% from 49.71% to 49.37% | | AERO | +10% from 4.74M AERO to 5.21M AERO | +1% from 20.07M AERO to 20.20M AERO | +9% from 23.62% to 25.79% | | cbETH | **-42% from 239.73 cbETH to 138.12 cbETH** | +2% from 1.31K cbETH to 1.33K cbETH | **-44% from 18.37% to 10.36%** | | tBTC | -3% from 0.64 tBTC to 0.62 tBTC | -0% from 4.52 tBTC to 4.52 tBTC | -3% from 14.21% to 13.81% | | cbBTC | -2% from 43.97 cbBTC to 43.28 cbBTC | -1% from 306.20 cbBTC to 302.63 cbBTC | -0% from 14.36% to 14.30% | | weETH | -0% from 11.95 weETH to 11.95 weETH | +0% from 89.30 weETH to 89.59 weETH | -0% from 13.38% to 13.34% | | LBTC | +9% from 3.97 LBTC to 4.30 LBTC | +9% from 30.90 LBTC to 33.56 LBTC | -0% from 12.84% to 12.83% | | USDbC | +0% from 1.04K USDbC to 1.04K USDbC | -0% from 8.44K USDbC to 8.43K USDbC | +0% from 12.33% to 12.34% | | WELL | +0% from 22.00M WELL to 22.00M WELL | +0% from 206.39M WELL to 206.89M WELL | -0% from 10.66% to 10.63% | | wstETH | +0% from 147.80 wstETH to 147.86 wstETH | -1% from 3.89K wstETH to 3.84K wstETH | +1% from 3.80% to 3.85% | | MORPHO | -0% from 220.10K MORPHO to 219.88K MORPHO | +1% from 5.94M MORPHO to 5.98M MORPHO | -1% from 3.71% to 3.68% | | rETH | +0% from 20.89 rETH to 20.89 rETH | -0% from 810.33 rETH to 810.09 rETH | +0% from 2.58% to 2.58% | | wrsETH | 0% from 0.01 wrsETH to 0.01 wrsETH | 0% from 55.48 wrsETH to 55.48 wrsETH | 0% from 0.03% to 0.03% | ### Notable Trends - USDC supply +11% (30.79M → 34.13M USDC) - cbETH borrows -42% (239.73 → 138.12 cbETH) - AERO borrows +10% (4.74M → 5.21M AERO) - LBTC supply +9% (30.90 → 33.56 LBTC) ### Liquidations - **Total liquidations:** 36 - **Total Collateral Seized (USD):** $34,473.62 - **Total Debt Repaid (USD):** $31,339.66 - **Total Liquidation Bonus (USD):** $3,133.97 - **Total Liquidator Bonus (USD):** $2,193.78 - **Total Protocol Bonus (USD):** $940.19 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | cbXRP | 10,816.071600 | $22,684.30 | $20,622.09 | $2,062.21 | $1,443.55 | $618.66 | 3 | | cbBTC | 0.119830 | $10,834.10 | $9,849.18 | $984.92 | $689.44 | $295.48 | 8 | | USDC | 825.117012 | $824.93 | $749.94 | $74.99 | $52.50 | $22.50 | 5 | | VIRTUAL | 64.310400 | $61.46 | $55.88 | $5.59 | $3.91 | $1.68 | 1 | | WETH | 0.012743 | $40.65 | $36.95 | $3.70 | $2.59 | $1.11 | 13 | | AERO | 43.074240 | $24.90 | $22.64 | $2.26 | $1.58 | $0.68 | 2 | | USDS | 2.964920 | $2.96 | $2.69 | $0.27 | $0.19 | $0.08 | 1 | | EURC | 0.250187 | $0.29 | $0.26 | $0.03 | $0.02 | $0.01 | 1 | | wrsETH | 0.000009 | $0.03 | $0.03 | $0.00 | $0.00 | $0.00 | 2 | ### Summary View The following table summarizes the total supply, total borrows, total reserves, and bad debt in each market. | **Asset** | **Price** | **Total Supply** | **Total Supply (USD)** | **Total Borrows** | **Total Borrows (USD)** | **Total Reserves** | **Total Reserves (USD)** | **Bad Debt** | **Bad Debt (USD)** | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | AERO | 0.585 | 20179425.81 | $11,804,964.10 | 5209247.699 | $3,047,409.90 | 169509.2495 | $99,162.91 | 462,371.27 | $270,487.19 | | cbBTC | 96590.58 | 302.6298 | $29,231,187.91 | 43.367 | $4,188,843.68 | 0.4693 | $45,329.96 | 0.1471 | $14,208.47 | | cbETH | 3751.836 | 1333.783 | $5,004,135.08 | 206.1412 | $773,407.98 | 10.6274 | $39,872.26 | 47.8941 | $179,690.81 | | cbXRP | 2.12 | 3233257.19 | $6,854,505.24 | 1600837.037 | $3,393,774.52 | 498708.5062 | $1,057,262.03 | 1,234,991.61 | $2,618,182.21 | | DAI | 1 | 22841.0742 | $22,841.07 | 12069.6632 | $12,069.66 | 1834.7779 | $1,834.78 | 0 | $0.00 | | EURC | 1.163 | 1774763.264 | $2,064,049.68 | 1191499.804 | $1,385,714.27 | 23696.0028 | $27,558.45 | 155,726.57 | $181,110.00 | | LBTC | 96844.418 | 33.5918 | $3,253,178.32 | 4.2987 | $416,305.10 | 0.2015 | $19,514.15 | 0 | $0.00 | | MAMO | 0.025 | 2903215.646 | $72,580.39 | 417473.7448 | $10,436.84 | 3993.9784 | $99.85 | 0 | $0.00 | | MORPHO | 1.424 | 5978649.619 | $8,513,597.06 | 219879.2777 | $313,108.09 | 14273.5306 | $20,325.51 | 119,263.43 | $169,831.12 | | rETH | 3867.909 | 809.8754 | $3,132,524.35 | 20.8922 | $80,809.13 | 2.9434 | $11,384.80 | 0.0005 | $1.93 | | tBTC | 97137.899 | 4.5222 | $439,277.01 | 0.6247 | $60,682.05 | 0.0747 | $7,256.20 | 0.0121 | $1,175.37 | | USDC | 1 | 34095708.09 | $34,095,708.09 | 25760793.64 | $25,760,793.64 | 109997.3688 | $109,997.37 | 80,757.59 | $80,757.59 | | USDS | 1 | 9875.7358 | $9,875.74 | 8077.4162 | $8,077.42 | 132.3637 | $132.36 | 0 | $0.00 | | VIRTUAL | 1.032 | 3865834.617 | $3,989,541.32 | 1982613.516 | $2,046,057.15 | 870430.2451 | $898,284.01 | 1,952,078.91 | $2,014,545.44 | | weETH | 3635.463 | 89.589 | $325,697.49 | 11.9488 | $43,439.42 | 6.0135 | $21,861.86 | 0.0033 | $12.00 | | WELL | 0.008 | 206829901 | $1,654,639.21 | 22000090.98 | $176,000.73 | 2495173.006 | $19,961.38 | 0 | $0.00 | | WETH | 3348.784 | 7255.3181 | $24,296,493.17 | 5861.883 | $19,630,180.00 | 49.3885 | $165,391.42 | 0.2255 | $755.15 | | wrsETH | 3559.054 | 55.4795 | $197,454.54 | 0.0148 | $52.67 | 0.8118 | $2,889.24 | 0.0003 | $1.07 | | wstETH | 4099.716 | 3836.1323 | $15,727,052.97 | 147.8569 | $606,171.30 | 6.6449 | $27,242.20 | 81.8317 | $335,486.73 | ## OP Mainnet | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | DAI | 4.50M | 4.80M | 1.14% | 1.24% | 85.72% | | USDT | 18.40M | 22.60M | 0.83% | 0.84% | 78.83% | | WETH | 30.00K | 32.00K | 3.90% | 5.14% | 71.06% | | USDC | 34.00M | 36.40M | 1.84% | 2.55% | 67.47% | | USDT0 | 8.00M | 10.00M | 0.74% | 1.05% | 56.13% | | cbETH | 0.00 | 0.00 | 0.00% | 0.00% | 36.79% | | WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 32.07% | | OP | 650.00K | 5.60M | 29.58% | 17.25% | 19.91% | | rETH | 150.00 | 750.00 | 1.64% | 2.43% | 13.51% | | VELO | 20.00M | 80.00M | 19.42% | 45.88% | 10.58% | | wstETH | 300.00 | 5.00K | 2.39% | 3.12% | 4.60% | | weETH | 4.00 | 10.00 | 27.02% | 449.49% | 2.41% | | wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.83% | ![image2](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/7/7d60777e915b48ce415c1c14cf31eb1e6e3e5057.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | DAI | **+172% from 28.64K DAI to 78.02K DAI** | **+141% from 36.05K DAI to 86.95K DAI** | +13% from 79.44% to 89.73% | | USDT | **-53% from 150.63K USDT to 71.49K USDT** | -31% from 181.94K USDT to 125.24K USDT | -31% from 82.79% to 57.08% | | WETH | -1% from 1.17K WETH to 1.16K WETH | -1% from 1.65K WETH to 1.63K WETH | +0% from 70.95% to 71.23% | | USDC | +3% from 622.96K USDC to 640.86K USDC | +5% from 935.53K USDC to 986.67K USDC | -2% from 66.59% to 64.95% | | USDT0 | -0% from 58.89K USDT0 to 58.89K USDT0 | +0% from 103.59K USDT0 to 104.10K USDT0 | -0% from 56.84% to 56.57% | | cbETH | 0% from 0.10 cbETH to 0.10 cbETH | 0% from 0.27 cbETH to 0.27 cbETH | 0% from 36.79% to 36.79% | | WBTC | **-68% from 0.00 WBTC to 0.00 WBTC** | +2% from 0.01 WBTC to 0.01 WBTC | **-67% from 61.62% to 20.17%** | | OP | -7% from 196.90K OP to 183.92K OP | +1% from 963.71K OP to 975.63K OP | -8% from 20.43% to 18.85% | | rETH | +0% from 2.47 rETH to 2.47 rETH | +0% from 18.25 rETH to 18.25 rETH | +0% from 13.51% to 13.51% | | VELO | **+56% from 3.71M VELO to 5.81M VELO** | +0% from 36.72M VELO to 36.75M VELO | **+56% from 10.12% to 15.80%** | | wstETH | +0% from 7.17 wstETH to 7.19 wstETH | -2% from 157.72 wstETH to 155.16 wstETH | +2% from 4.54% to 4.63% | | weETH | +0% from 1.08 weETH to 1.08 weETH | -6% from 45.49 weETH to 42.74 weETH | +6% from 2.38% to 2.53% | | wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | 0% from 15.14 wrsETH to 15.14 wrsETH | 0% from 1.83% to 1.83% | ### Notable Trends - USDT borrows -53% (150.63K → 71.49K USDT) - USDT supply -31% (181.94K → 125.24K USDT) - USDC supply +5% (935.53K → 986.67K USDC) - DAI supply +141% (36.05K → 86.95K DAI) - DAI borrows +172% (28.64K → 78.02K DAI) - VELO borrows +56% (3.71M → 5.81M VELO) ### Liquidations - **Total liquidations:** 2 - **Total Collateral Seized (USD):** $1,507.16 - **Total Debt Repaid (USD):** $1,370.15 - **Total Liquidation Bonus (USD):** $137.01 - **Total Liquidator Bonus (USD):** $95.91 - **Total Protocol Bonus (USD):** $41.10 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | WETH | 0.464991 | $1,479.98 | $1,345.44 | $134.54 | $94.18 | $40.36 | 1 | | USDC | 27.189200 | $27.18 | $24.71 | $2.47 | $1.73 | $0.74 | 1 | ## Moonbeam | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | GLMR | 0.10 | 8827.63M% | 80.57% | | xcDOT | 0.10 | 19.63M% | 48.29% | | FRAX | 0.10 | 194.27K% | 46.64% | | xcUSDC | 0.10 | 17.33M% | 31.60% | | xcUSDT | 0.10 | 17.52M% | 21.69% | | USDC.wh | 0.10 | 13.28M% | 13.53% | | ETH.wh | 0.10 | 1.09K% | 3.97% | | BTC.wh | 0.10 | 22.53% | 1.90% | ![image3](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/e/eae51a87cec50b4061b4cb8db80938baa0f1d7a7.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | GLMR | +3% from 8.72M GLMR to 8.96M GLMR | -16% from 12.88M GLMR to 10.88M GLMR | +22% from 67.73% to 82.35% | | xcDOT | +0% from 19.62K xcDOT to 19.63K xcDOT | -0% from 1.10M xcDOT to 1.10M xcDOT | +0% from 48.26% to 48.31% | | FRAX | 0% from 194.27 FRAX to 194.27 FRAX | 0% from 38.71K FRAX to 38.71K FRAX | 0% from 46.64% to 46.64% | | xcUSDC | -1% from 17.32K xcUSDC to 17.19K xcUSDC | -4% from 55.27K xcUSDC to 52.81K xcUSDC | +4% from 31.34% to 32.56% | | xcUSDT | -11% from 19.02K xcUSDT to 17.01K xcUSDT | -0% from 80.78K xcUSDT to 80.73K xcUSDT | -11% from 23.55% to 21.07% | | USDC.wh | -10% from 14.41K USDC.wh to 12.97K USDC.wh | -0% from 98.18K USDC.wh to 98.16K USDC.wh | -10% from 14.67% to 13.21% | | ETH.wh | +0% from 1.09 ETH.wh to 1.09 ETH.wh | -0% from 27.56 ETH.wh to 27.56 ETH.wh | +0% from 3.97% to 3.97% | | BTC.wh | **-99% from 0.10 BTC.wh to 0.00 BTC.wh** | +0% from 1.19 BTC.wh to 1.19 BTC.wh | **-99% from 8.39% to 0.09%** | ### Liquidations - **Total liquidations:** 1 - **Total Collateral Seized (USD):** $0.89 - **Total Debt Repaid (USD):** $0.81 - **Total Liquidation Bonus (USD):** $0.08 - **Total Liquidator Bonus (USD):** $0.06 - **Total Protocol Bonus (USD):** $0.02 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | GLMR | 37.056000 | $0.89 | $0.81 | $0.08 | $0.06 | $0.02 | 1 | ## Moonriver | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | xcKSM | 0.10 | 5.60M% | 45.43% | | FRAX | 0.10 | 49.23M% | 17.47% | | MOVR | 0.10 | 1.38M% | 1.07% | ![image](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/1/1eaf7740190d7d9d44e49090c7bff83e889482ee.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | xcKSM | 0% from 5.60K xcKSM to 5.60K xcKSM | 0% from 12.33K xcKSM to 12.33K xcKSM | 0% from 45.43% to 45.43% | | FRAX | 0% from 49.23K FRAX to 49.23K FRAX | 0% from 281.85K FRAX to 281.85K FRAX | 0% from 17.47% to 17.47% | | MOVR | 0% from 1.38K MOVR to 1.38K MOVR | 0% from 129.32K MOVR to 129.32K MOVR | 0% from 1.07% to 1.07% | ### Liquidations - **Total liquidations:** 79 - **Total Collateral Seized (USD):** $3,257.51 - **Total Debt Repaid (USD):** $2,961.37 - **Total Liquidation Bonus (USD):** $296.14 - **Total Liquidator Bonus (USD):** $207.30 - **Total Protocol Bonus (USD):** $88.84 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | xcKSM | 202.336950 | $1,573.55 | $1,430.50 | $143.05 | $100.14 | $42.92 | 19 | | MOVR | 505.597423 | $1,367.85 | $1,243.50 | $124.35 | $87.04 | $37.30 | 50 | | FRAX | 318.288220 | $316.11 | $287.37 | $28.74 | $20.12 | $8.62 | 10 | ---
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [January 22, 2026, 3:02pm UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/50 "2026-01-22T15:02:12Z")
# Weekly Update (1/16/26 - 1/22/26) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, Moonbeam, and Moonriver. Data from 1/16/26 to 1/22/26. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | WETH | 64.00K | 96.00K | 8.93% | 7.23% | 82.41% | | USDS | 690.00K | 750.00K | 1.13% | 1.31% | 79.41% | | EURC | 21.00M | 21.90M | 5.68% | 7.21% | 75.84% | | USDC | 184.00M | 200.00M | 13.95% | 17.91% | 71.72% | | VIRTUAL | 10.00K | 4.50M | 19.86K% | 89.10% | 49.53% | | cbXRP | 1.60M | 5.00M | 100.07% | 64.82% | 49.41% | | DAI | 300.00K | 400.00K | 3.76% | 5.71% | 49.35% | | AERO | 25.00M | 70.00M | 22.03% | 28.69% | 27.43% | | cbETH | 1.00K | 16.00K | 20.46% | 8.47% | 15.07% | | MAMO | 3.00M | 20.00M | 14.29% | 14.68% | 14.62% | | cbBTC | 640.00 | 1.50K | 7.03% | 21.35% | 14.05% | | tBTC | 5.00 | 50.00 | 12.48% | 9.05% | 13.78% | | weETH | 200.00 | 5.40K | 5.97% | 1.65% | 13.38% | | LBTC | 10.00 | 95.00 | 42.86% | 35.29% | 12.79% | | WELL | 22.00M | 250.00M | 100.00% | 81.63% | 10.78% | | wstETH | 1.20K | 14.40K | 12.32% | 26.64% | 3.85% | | MORPHO | 100.00K | 6.00M | 219.75% | 97.02% | 3.78% | | rETH | 200.00 | 2.60K | 10.45% | 31.16% | 2.58% | | wrsETH | 0.10 | 1.00 | 0.00% | 5.55K% | 0.03% | ![image1](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/f/ff562e4a91ddda44c943281b7813787a2db43a16.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | WETH | -12% from 6.06K WETH to 5.32K WETH | -12% from 7.34K WETH to 6.44K WETH | -0% from 82.59% to 82.56% | | USDS | -11% from 8.08K USDS to 7.19K USDS | -6% from 9.88K USDS to 9.27K USDS | -5% from 81.79% to 77.57% | | EURC | -1% from 1.19M EURC to 1.17M EURC | -17% from 1.73M EURC to 1.44M EURC | +19% from 68.67% to 81.79% | | USDC | -1% from 25.76M USDC to 25.52M USDC | +10% from 34.00M USDC to 37.24M USDC | -10% from 75.76% to 68.51% | | VIRTUAL | +0% from 1.98M VIRTUAL to 1.99M VIRTUAL | +3% from 3.89M VIRTUAL to 4.02M VIRTUAL | -3% from 51.00% to 49.44% | | cbXRP | -0% from 1.60M cbXRP to 1.60M cbXRP | +0% from 3.24M cbXRP to 3.24M cbXRP | -0% from 49.48% to 49.34% | | DAI | +1% from 12.00K DAI to 12.17K DAI | -0% from 22.84K DAI to 22.80K DAI | +2% from 52.54% to 53.37% | | AERO | +6% from 5.21M AERO to 5.50M AERO | -1% from 20.20M AERO to 20.00M AERO | +7% from 25.79% to 27.49% | | cbETH | **+73% from 138.12 cbETH to 238.79 cbETH** | +3% from 1.33K cbETH to 1.37K cbETH | **+68% from 10.36% to 17.40%** | | MAMO | +14% from 417.49K MAMO to 477.60K MAMO | -1% from 2.90M MAMO to 2.88M MAMO | +15% from 14.38% to 16.57% | | cbBTC | -2% from 43.30 cbBTC to 42.54 cbBTC | +5% from 302.57 cbBTC to 316.30 cbBTC | -6% from 14.31% to 13.45% | | tBTC | -0% from 0.62 tBTC to 0.62 tBTC | -0% from 4.52 tBTC to 4.52 tBTC | -0% from 13.81% to 13.76% | | weETH | -0% from 11.95 weETH to 11.94 weETH | -3% from 89.59 weETH to 87.06 weETH | +3% from 13.34% to 13.72% | | LBTC | -10% from 4.30 LBTC to 3.89 LBTC | -1% from 33.56 LBTC to 33.14 LBTC | -8% from 12.83% to 11.74% | | WELL | +0% from 22.00M WELL to 22.00M WELL | -3% from 206.92M WELL to 201.49M WELL | +3% from 10.63% to 10.92% | | wstETH | +0% from 147.86 wstETH to 147.88 wstETH | +0% from 3.84K wstETH to 3.84K wstETH | -0% from 3.85% to 3.85% | | MORPHO | -0% from 219.88K MORPHO to 219.63K MORPHO | -3% from 5.98M MORPHO to 5.78M MORPHO | +3% from 3.68% to 3.80% | | rETH | +0% from 20.89 rETH to 20.90 rETH | +0% from 810.04 rETH to 810.17 rETH | +0% from 2.58% to 2.58% | | wrsETH | 0% from 0.01 wrsETH to 0.01 wrsETH | 0% from 55.48 wrsETH to 55.48 wrsETH | 0% from 0.03% to 0.03% | ### Notable Trends - USDC supply +10% (34.00M → 37.24M USDC) - WETH supply -12% (7.34K → 6.44K WETH) - cbETH borrows +73% (138.12 → 238.79 cbETH) - EURC supply -17% (1.73M → 1.44M EURC) ### Liquidations - **Total liquidations:** 80 - **Total Collateral Seized (USD):** $199,975.27 - **Total Debt Repaid (USD):** $181,795.70 - **Total Liquidation Bonus (USD):** $18,179.57 - **Total Liquidator Bonus (USD):** $12,725.70 - **Total Protocol Bonus (USD):** $5,453.87 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | cbXRP | 77,722.992740 | $145,061.74 | $131,874.31 | $13,187.43 | $9,231.20 | $3,956.23 | 8 | | AERO | 59,883.343514 | $28,796.28 | $26,178.44 | $2,617.84 | $1,832.49 | $785.35 | 21 | | cbETH | 2.624190 | $9,103.92 | $8,276.29 | $827.63 | $579.34 | $248.29 | 1 | | WELL | 827,361.720000 | $5,871.65 | $5,337.86 | $533.79 | $373.65 | $160.14 | 4 | | WETH | 1.574354 | $4,789.49 | $4,354.08 | $435.41 | $304.79 | $130.62 | 24 | | VIRTUAL | 3,980.085430 | $3,396.48 | $3,087.71 | $308.77 | $216.14 | $92.63 | 3 | | cbBTC | 0.024145 | $2,134.99 | $1,940.90 | $194.09 | $135.86 | $58.23 | 3 | | EURC | 691.740000 | $802.12 | $729.20 | $72.92 | $51.04 | $21.88 | 1 | | USDC | 18.592262 | $18.59 | $16.90 | $1.69 | $1.18 | $0.51 | 14 | | wstETH | 0.000000 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | 1 | ![image2](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/3/340365b873dcfe1c2e3fc05b7b0f0aeb183828a1.png) ### Reserves & Bad Debt | **Asset** | **Total Reserves (tokens)** | **Total Reserves (USD)** | **Bad Debt (tokens)** | **Bad Debt (USD)** | | --- | --- | --- | --- | --- | | AERO | 173711.8904 | $85,118.83 | 462929.994 | $223,331.83 | | cbBTC | 0.4707 | $42,279.94 | 0.1471 | $13,160.30 | | cbETH | 10.7117 | $35,781.73 | 47.9025 | $159,331.70 | | cbXRP | 501881.8535 | $975,658.32 | 1236815.976 | $2,376,665.23 | | DAI | 1839.1511 | $1,839.15 | 0 | $0.00 | | EURC | 23843.7116 | $27,825.61 | 155890.3932 | $182,736.64 | | LBTC | 0.2016 | $18,157.85 | 0 | $0.00 | | MAMO | 4151.0579 | $87.17 | 0 | $0.00 | | MORPHO | 14285.9813 | $17,057.46 | 119282.7378 | $141,684.05 | | rETH | 2.9436 | $10,141.27 | 0.0005 | $1.69 | | tBTC | 0.0747 | $6,707.15 | 0.0121 | $1,077.27 | | USDC | 112839.2579 | $112,839.26 | 80846.0147 | $80,902.65 | | USDS | 133.1609 | $133.16 | 0 | $0.00 | | VIRTUAL | 872491.8101 | $733,765.61 | 1957497.797 | $1,617,872.00 | | weETH | 6.0142 | $19,470.79 | 0.0033 | $10.68 | | WELL | 2522523.332 | $17,657.66 | 0 | $0.00 | | WETH | 49.5635 | $147,733.43 | 0.2255 | $670.09 | | wrsETH | 0.8118 | $2,572.81 | 0.0003 | $1.06 | | wstETH | 6.6459 | $24,258.94 | 81.8354 | $297,534.19 | | | | Total: $2,279,086.13 | | Total: $5,094,979.38 | ## OP Mainnet | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | DAI | 4.50M | 4.80M | 1.75% | 1.85% | 88.72% | | WETH | 30.00K | 32.00K | 3.87% | 5.11% | 71.04% | | USDT | 18.40M | 22.60M | 0.45% | 0.56% | 66.37% | | USDT0 | 8.00M | 10.00M | 0.74% | 0.98% | 62.14% | | USDC | 34.00M | 36.40M | 1.69% | 2.57% | 61.16% | | cbETH | 0.00 | 0.00 | 0.00% | 0.00% | 42.86% | | WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 20.17% | | OP | 650.00K | 5.60M | 29.84% | 17.43% | 19.87% | | VELO | 20.00M | 80.00M | 32.13% | 45.82% | 17.54% | | rETH | 150.00 | 750.00 | 1.64% | 2.43% | 13.52% | | wstETH | 300.00 | 5.00K | 2.40% | 3.08% | 4.67% | | weETH | 4.00 | 10.00 | 27.02% | 427.26% | 2.53% | | wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.83% | ![image3](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/8/8c1592f181b42491d87300ebf46c401a583ebd8b.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | DAI | +12% from 78.02K DAI to 87.59K DAI | +13% from 86.95K DAI to 98.46K DAI | -1% from 89.73% to 88.97% | | WETH | -0% from 1.16K WETH to 1.16K WETH | +0% from 1.63K WETH to 1.64K WETH | -1% from 71.20% to 70.80% | | USDT | **+86% from 71.45K USDT to 133.12K USDT** | +39% from 125.25K USDT to 174.33K USDT | +34% from 57.05% to 76.36% | | USDT0 | +0% from 58.89K USDT0 to 59.08K USDT0 | -37% from 104.10K USDT0 to 65.37K USDT0 | **+60% from 56.57% to 90.38%** | | USDC | +0% from 640.87K USDC to 641.65K USDC | -9% from 989.68K USDC to 896.87K USDC | +10% from 64.76% to 71.54% | | cbETH | +1% from 0.10 cbETH to 0.10 cbETH | **-63% from 0.27 cbETH to 0.10 cbETH** | **+170% from 36.79% to 99.41%** | | WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.01 WBTC to 0.01 WBTC | 0% from 20.17% to 20.17% | | OP | +23% from 183.92K OP to 225.44K OP | +2% from 973.63K OP to 991.22K OP | +20% from 18.89% to 22.74% | | VELO | **-47% from 5.98M VELO to 3.15M VELO** | -1% from 36.74M VELO to 36.49M VELO | **-47% from 16.26% to 8.63%** | | rETH | +0% from 2.47 rETH to 2.47 rETH | -0% from 18.25 rETH to 18.24 rETH | +0% from 13.51% to 13.52% | | wstETH | +0% from 7.19 wstETH to 7.19 wstETH | +8% from 155.16 wstETH to 167.49 wstETH | -7% from 4.63% to 4.29% | | weETH | +0% from 1.08 weETH to 1.08 weETH | -0% from 42.74 weETH to 42.64 weETH | +0% from 2.53% to 2.54% | | wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | 0% from 15.14 wrsETH to 15.14 wrsETH | 0% from 1.83% to 1.83% | ### Notable Trends - VELO borrows -47% (5.98M → 3.15M VELO) - USDT borrows +86% (71.45K → 133.12K USDT) - USDT supply +39% (125.25K → 174.33K USDT) - USDT0 supply -37% (104.10K → 65.37K USDT0) ### Liquidations No liquidation events this week. ## Moonbeam | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | GLMR | 0.10 | 9095.65M% | 82.82% | | xcDOT | 0.10 | 19.58M% | 48.31% | | FRAX | 0.10 | 194.27K% | 46.64% | | xcUSDC | 0.10 | 17.13M% | 32.43% | | xcUSDT | 0.10 | 17.01M% | 21.08% | | USDC.wh | 0.10 | 12.93M% | 13.27% | | ETH.wh | 0.10 | 967.85% | 3.58% | | BTC.wh | 0.10 | 1.00% | 0.09% | ![image4](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/b/b5af1df4683b4c464b5340586937199e05a136f4.png) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | GLMR | +3% from 8.96M GLMR to 9.23M GLMR | +5% from 10.88M GLMR to 11.44M GLMR | -2% from 82.35% to 80.66% | | xcDOT | -0% from 19.63K xcDOT to 19.54K xcDOT | -0% from 1.10M xcDOT to 1.10M xcDOT | +0% from 48.31% to 48.32% | | FRAX | 0% from 194.27 FRAX to 194.27 FRAX | 0% from 38.71K FRAX to 38.71K FRAX | 0% from 46.64% to 46.64% | | xcUSDC | -1% from 17.19K xcUSDC to 17.10K xcUSDC | +0% from 52.81K xcUSDC to 52.85K xcUSDC | -1% from 32.56% to 32.37% | | xcUSDT | +0% from 17.01K xcUSDT to 17.02K xcUSDT | -0% from 80.73K xcUSDT to 80.72K xcUSDT | +0% from 21.07% to 21.08% | | USDC.wh | -0% from 12.97K USDC.wh to 12.93K USDC.wh | -3% from 98.16K USDC.wh to 94.89K USDC.wh | +3% from 13.21% to 13.63% | | ETH.wh | -21% from 1.09 ETH.wh to 0.86 ETH.wh | -3% from 27.56 ETH.wh to 26.61 ETH.wh | -18% from 3.97% to 3.25% | | BTC.wh | 0% from 0.00 BTC.wh to 0.00 BTC.wh | -11% from 1.19 BTC.wh to 1.06 BTC.wh | +12% from 0.09% to 0.10% | ### Liquidations - **Total liquidations:** 2 - **Total Collateral Seized (USD):** $1.44 - **Total Debt Repaid (USD):** $1.31 - **Total Liquidation Bonus (USD):** $0.13 - **Total Liquidator Bonus (USD):** $0.09 - **Total Protocol Bonus (USD):** $0.04 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | GLMR | 60.627600 | $1.44 | $1.31 | $0.13 | $0.09 | $0.04 | 2 | ## Moonriver Moonriver will be fully deprecated by Feb 1st, this week as while collateral factors were reduced from 15% to 7.5%, the following liquidations occurred. ### Liquidations - **Total liquidations:** 58 - **Total Collateral Seized (USD):** $1,788.42 - **Total Debt Repaid (USD):** $1,625.84 - **Total Liquidation Bonus (USD):** $162.58 - **Total Liquidator Bonus (USD):** $113.81 - **Total Protocol Bonus (USD):** $48.78 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | MOVR | 327.530432 | $853.98 | $776.35 | $77.63 | $54.34 | $23.29 | 28 | | FRAX | 527.857040 | $524.51 | $476.83 | $47.68 | $33.38 | $14.30 | 8 | | xcKSM | 53.546110 | $409.93 | $372.66 | $37.27 | $26.09 | $11.18 | 22 | The [next proposal](https://moonwell.fi/governance/proposal/moonriver?id=72) aims to reduce collateral factors in all three markets from 7.5% to 0%, liquidating all remaining positions. Below is a list of remaining addresses with debt on Moonriver. Estimated debt repaid: $1,661.00 Newly liquidatable positions after adjustment: 63 | Address | Collateral (USD) | Debt (USD) | HF change | | --- | --- | --- | --- | | 0xb10503651649ced3ca08b517197339baf84be6f4 | XCKSM:$3,762, MOVR:$2,007 | MOVR:$302 | 1.433→0.000 | | 0xea596b95be434da15c2d438011be8d35ca5826db | XCKSM:$2,577, MOVR:$934, FRAX:$581 | MOVR:$143, XCKSM:$91 | 1.312→0.000 | | 0xf57439b647b5d2ba7309b5b58eaadefa69238926 | MOVR:$1,792, XCKSM:$1,099 | XCKSM:$102, MOVR:$81, FRAX:$25 | 1.042→0.000 | | 0x980c8a9be764f1ef008a584a7d3d7975b1245c8c | FRAX:$1,298, XCKSM:$1,059, MOVR:$157 | MOVR:$176 | 1.071→0.000 | | 0xc6302894cd030601d5e1f65c8f504c83d5361279 | FRAX:$2,428, MOVR:$764 | MOVR:$119 | 2.012→0.000 | | 0x50bfa31336524ef6f729ae4d07beb44e1f97ed53 | FRAX:$873, MOVR:$14 | FRAX:$65 | 1.023→0.000 | | 0x491ffc953e1ab2751817ff90a5f32694a4841474 | MOVR:$545, XCKSM:$428 | XCKSM:$42 | 1.737→0.000 | | 0x5963c46aeb3f51ced435a770e40958b640480f6c | FRAX:$604 | FRAX:$37 | 1.224→0.000 | | 0x6b252eed6c28c076fa22c0f006d1d7161e0705ca | MOVR:$585 | MOVR:$35 | 1.254→0.000 | | 0x15fd6f22be98b21ac03e685dac2c38e5de2055b6 | XCKSM:$643 | XCKSM:$34 | 1.418→0.000 | | 0x9626087c4e8e63a486c1e7961854f5cbe1cea4c1 | FRAX:$3,783 | MOVR:$31 | 9.152→0.000 | | 0x2944778ea6a8c8b05780842b44413022b1246895 | MOVR:$462 | MOVR:$30 | 1.155→0.000 | | 0x71583c00b62c85601e83b88ffc59233b1243b30d | XCKSM:$178, MOVR:$176 | XCKSM:$23 | 1.154→0.000 | | 0xe1f5a5166df06f575a755ef26238cb4b07c1ce66 | MOVR:$426 | MOVR:$20 | 1.597→0.000 | | 0x9f94ff95cbc403cbfc18802edeaef71da8155f36 | FRAX:$344, XCKSM:$102, MOVR:$5 | XCKSM:$19 | 1.780→0.000 | | 0xbcba34246db4f560fc19b9a56111b90f8cadb248 | FRAX:$134, MOVR:$106 | FRAX:$10, MOVR:$8 | 1.000→0.000 | | 0x749696fbee9c3b972d62bceb19ed38f9fedc261a | XCKSM:$160, MOVR:$65, FRAX:$7 | XCKSM:$10, MOVR:$6 | 1.087→0.000 | | 0x5cc2687251415ea89335d06f3d83f598a412a6fb | FRAX:$471 | MOVR:$16 | 2.208→0.000 | | 0x62e97d3f157162a5fb1f81a388358909922407e7 | MOVR:$243 | MOVR:$14 | 1.302→0.000 | | 0x2e931904f3b4a27455d6fd72687ace315d52fbb7 | FRAX:$239, MOVR:$13 | MOVR:$14 | 1.350→0.000 | | 0xd56e6809e34a4271aa4d08dc4522266b9f3527fc | MOVR:$182, FRAX:$10 | MOVR:$8, FRAX:$5 | 1.108→0.000 | | 0x57c0674424b354d55ec45c65fad0f0dd3edd92cb | MOVR:$244 | XCKSM:$12 | 1.525→0.000 | | 0x71f9b420a6b03d2fbe2c0d2aea5f4365b0e95774 | MOVR:$211 | MOVR:$12 | 1.319→0.000 | | 0x016f4eb10196d247ae5eb2c9d6c2562d7db7e61c | XCKSM:$255 | XCKSM:$11 | 1.739→0.000 | | 0x5989190301ef1b771ee0b0290519b27f6fdda08a | XCKSM:$81, MOVR:$75 | FRAX:$10 | 1.170→0.000 | | 0xd4c621bcae8bc25cc5be96919bbdc888335a7f49 | MOVR:$284 | FRAX:$9 | 2.367→0.000 | | 0xa2ebd97892502847061fe611efd5e289dbfa0703 | XCKSM:$198 | XCKSM:$8 | 1.856→0.000 | | 0x3ec80aa5aa9563ae4108ad548af38bdf50bca5c4 | MOVR:$126 | FRAX:$8 | 1.181→0.000 | | 0x07a92f07b414157f1b51dc6363c4e41483c9ae30 | FRAX:$102 | FRAX:$7 | 1.093→0.000 | | 0xaf05e7650c857a070a46d9afe5f2c704edc9fa3d | XCKSM:$161 | FRAX:$7 | 1.725→0.000 | | 0x826121d2a47c9d6e71fd4fed082ceccc8a5381b1 | XCKSM:$62, MOVR:$47 | MOVR:$7 | 1.168→0.000 | | 0x0a4e5c29d7c1c80e0d6d3f06d1a28dfd6609536a | MOVR:$107 | MOVR:$6 | 1.338→0.000 | | 0xeb7dff2aefa350c2b96509053f3376bc1e4eb887 | FRAX:$80, MOVR:$28 | MOVR:$6 | 1.350→0.000 | | 0x65274e52b12e0cfac2cc42bc4fb971447507c5e2 | XCKSM:$74, MOVR:$72 | FRAX:$6 | 1.825→0.000 | | 0x6c7e7fbfa69f4b5a5ade1c27bc74fa4290a3b8a3 | XCKSM:$112 | XCKSM:$6 | 1.400→0.000 | | 0x42e48f81c65c7961f35b1bd13242faacb27160ea | MOVR:$70 | FRAX:$5 | 1.050→0.000 | | 0x75ef617ebe6bb4e7b4e85c37c25462c1dbdd5b00 | XCKSM:$70, MOVR:$12 | XCKSM:$5 | 1.230→0.000 | | 0xaa69b502540b8a1b0d05e4df02bae637397d09f3 | MOVR:$103 | XCKSM:$3, MOVR:$2 | 1.545→0.000 | | 0x9bbf8d4eae6d0423fc9b1ae37c934a3a0c574aa3 | MOVR:$114 | MOVR:$5 | 1.710→0.000 | | 0x157a8c092a9544fb84ed06d633956c1aba075e9f | MOVR:$70, XCKSM:$1 | FRAX:$3, XCKSM:$2 | 1.065→0.000 | | 0xbd24b957413d1006ee642280e8777eeb7dbb0879 | MOVR:$89 | MOVR:$4 | 1.669→0.000 | | 0x9187ca4c4426eea21a97fa1c415836ff75b06a69 | MOVR:$64 | MOVR:$4 | 1.200→0.000 | | 0x82ad076fe3637e851741a4ec48e3f0a427d8672f | MOVR:$64 | FRAX:$4 | 1.200→0.000 | | 0xd98f10ba79091eb4cf58bafeb6681a77ee30b385 | XCKSM:$97, MOVR:$18 | MOVR:$4 | 2.156→0.000 | | 0x409ea67dc4f83b8d91a8b32057aed28f5debbd4a | XCKSM:$74 | MOVR:$3 | 1.850→0.000 | | 0xbf2d4f7bcafb6111fcdeaaa6c1fa680d084dc0c1 | MOVR:$54 | MOVR:$3 | 1.350→0.000 | | 0x5972da5ff1b91a83fce2cda94ad8601dc0eb14b3 | FRAX:$59, MOVR:$6 | FRAX:$2, MOVR:$1 | 1.625→0.000 | | 0x186fed4e49ae0fb6f312ac81d5af0397d31feb8a | MOVR:$53 | MOVR:$3 | 1.325→0.000 | | 0xc56e69c5412b9629b4418eab6b9b94820eb8be13 | MOVR:$68 | FRAX:$3 | 1.700→0.000 | | 0x2f4675d80a50857ea02933f2487ef1fedb6660c1 | MOVR:$24, XCKSM:$22 | MOVR:$2, XCKSM:$1 | 1.150→0.000 | | 0xc5ea9eb8cdba62e0a7d89b4fe6a2431afe64133b | MOVR:$38 | MOVR:$2 | 1.425→0.000 | | 0x391d396ebe8f48e17483561d6603066f7d7a0514 | MOVR:$34 | MOVR:$2 | 1.275→0.000 | | 0x88086850b484d857ed611701a530d6602303eb66 | MOVR:$34 | MOVR:$2 | 1.275→0.000 | | 0x6c7b2911369eb702f4b007633e19f18f75babc73 | MOVR:$39 | FRAX:$2 | 1.462→0.000 | | 0xea4c5bd8fb85130439e01ee3a3f0348edcac0858 | MOVR:$34 | MOVR:$2 | 1.275→0.000 | | 0x0aac6fe840d4da1261f275562ae33d67ba6869ee | XCKSM:$26, MOVR:$2 | FRAX:$2 | 1.050→0.000 | | 0x73d2d055639d287107b133175978e65c3675e90f | XCKSM:$32, MOVR:$13 | XCKSM:$1, MOVR:$1 | 1.688→0.000 | | 0xd1bf5f87c7f04f93e46521988940b5aea30eb7aa | FRAX:$42 | FRAX:$2 | 1.575→0.000 | | 0x23bca3f361c89a4da94784dc26b70dd04b5558e0 | FRAX:$67 | XCKSM:$1 | 5.025→0.000 | | 0x7ea65c38c2d4ef477dbce3b95bed5ca85a0a4b73 | MOVR:$15 | MOVR:$1 | 1.125→0.000 | | 0x68541f794a58ce79a21f843745cc73a1d281ee87 | XCKSM:$25, MOVR:$4 | XCKSM:$1 | 2.175→0.000 | | 0x4b0a6d7339f7072d0fec5a9f8ae34a5a60624e93 | FRAX:$28 | MOVR:$1 | 2.100→0.000 | | 0x29967f828407a15520e9cb6f8026df1620d463af | MOVR:$12, FRAX:$3 | FRAX:$1 | 1.125→0.000 | ---
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [January 29, 2026, 5:54pm UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/51 "2026-01-29T17:54:10Z")
# Weekly Update (1/23/26 - 1/29/26) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, Moonbeam, and Moonriver. Data from 1/23/26 to 1/29/26. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | WETH | 64.00K | 96.00K | 8.44% | 6.86% | 82.03% | | USDS | 690.00K | 750.00K | 1.06% | 1.31% | 74.53% | | EURC | 21.00M | 21.90M | 5.60% | 7.33% | 73.62% | | USDC | 184.00M | 200.00M | 13.90% | 18.38% | 69.57% | | DAI | 300.00K | 400.00K | 4.08% | 5.70% | 53.61% | | cbXRP | 1.60M | 5.00M | 99.49% | 62.82% | 50.70% | | VIRTUAL | 10.00K | 4.50M | 19.90K% | 88.72% | 49.85% | | AERO | 25.00M | 70.00M | 22.05% | 28.46% | 27.66% | | cbETH | 1.00K | 16.00K | 29.60% | 9.08% | 20.28% | | MAMO | 3.00M | 20.00M | 17.48% | 13.59% | 19.69% | | cbBTC | 640.00 | 1.50K | 6.65% | 20.41% | 13.90% | | weETH | 200.00 | 5.40K | 6.06% | 1.62% | 13.83% | | tBTC | 5.00 | 50.00 | 10.86% | 8.87% | 12.23% | | LBTC | 10.00 | 95.00 | 38.92% | 34.94% | 11.73% | | WELL | 34.00M | 250.00M | 66.74% | 81.61% | 11.12% | | wstETH | 1.20K | 14.40K | 12.29% | 26.83% | 3.82% | | MORPHO | 100.00K | 6.00M | 219.64% | 96.24% | 3.80% | | rETH | 200.00 | 2.60K | 10.45% | 31.15% | 2.58% | | wrsETH | 0.00 | 1.00 | 0.00% | 5.54K% | 0.03% | ![image1](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/2/29afb21a9f29f6b347344c9e4b45be3317e84389.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | WETH | -6% from 5.74K WETH to 5.40K WETH | -7% from 6.93K WETH to 6.48K WETH | +1% from 82.74% to 83.36% | | USDS | +4% from 7.19K USDS to 7.45K USDS | -5% from 10.27K USDS to 9.76K USDS | +9% from 70.02% to 76.34% | | EURC | -1% from 1.17M EURC to 1.16M EURC | +11% from 1.55M EURC to 1.73M EURC | -11% from 75.80% to 67.45% | | USDC | +1% from 25.54M USDC to 25.73M USDC | -3% from 37.13M USDC to 36.14M USDC | +3% from 68.79% to 71.20% | | DAI | +1% from 12.17K DAI to 12.33K DAI | +0% from 22.80K DAI to 22.81K DAI | +1% from 53.37% to 54.05% | | cbXRP | -1% from 1.60M cbXRP to 1.59M cbXRP | -4% from 3.24M cbXRP to 3.10M cbXRP | +4% from 49.45% to 51.23% | | VIRTUAL | +0% from 1.99M VIRTUAL to 1.99M VIRTUAL | -0% from 4.04M VIRTUAL to 4.03M VIRTUAL | +1% from 49.20% to 49.50% | | AERO | -4% from 5.75M AERO to 5.52M AERO | -1% from 20.03M AERO to 19.85M AERO | -3% from 28.69% to 27.82% | | cbETH | **+44% from 236.64 cbETH to 339.72 cbETH** | +17% from 1.37K cbETH to 1.60K cbETH | +23% from 17.25% to 21.21% | | MAMO | +24% from 472.54K MAMO to 585.96K MAMO | -15% from 2.88M MAMO to 2.44M MAMO | **+46% from 16.40% to 23.98%** | | cbBTC | -7% from 45.74 cbBTC to 42.37 cbBTC | -8% from 323.37 cbBTC to 298.42 cbBTC | +0% from 14.14% to 14.20% | | weETH | +0% from 11.94 weETH to 11.95 weETH | +2% from 87.11 weETH to 88.61 weETH | -2% from 13.71% to 13.48% | | tBTC | -21% from 0.62 tBTC to 0.49 tBTC | -3% from 4.52 tBTC to 4.37 tBTC | -18% from 13.77% to 11.30% | | LBTC | -11% from 4.29 LBTC to 3.83 LBTC | -1% from 33.52 LBTC to 33.19 LBTC | -10% from 12.80% to 11.54% | | WELL | +9% from 22.00M WELL to 23.88M WELL | +2% from 201.56M WELL to 205.47M WELL | +6% from 10.92% to 11.62% | | wstETH | -0% from 147.88 wstETH to 147.17 wstETH | +1% from 3.84K wstETH to 3.88K wstETH | -2% from 3.85% to 3.79% | | MORPHO | +0% from 219.63K MORPHO to 219.66K MORPHO | -0% from 5.78M MORPHO to 5.77M MORPHO | +0% from 3.80% to 3.80% | | rETH | +0% from 20.90 rETH to 20.91 rETH | +0% from 810.17 rETH to 810.67 rETH | -0% from 2.58% to 2.58% | | wrsETH | -1% from 0.01 wrsETH to 0.01 wrsETH | -1% from 55.48 wrsETH to 55.19 wrsETH | -1% from 0.03% to 0.03% | ### Notable Trends - cbBTC supply -8% (323.37 → 298.42 cbBTC) - WETH supply -7% (6.93K → 6.48K WETH) - cbETH supply +17% (1370 → 1600 cbETH) - cbETH borrows +44% (236.64 → 339.72 cbETH) ### Liquidations - **Total liquidations:** 53 - **Total Collateral Seized (USD):** $42,643.13 - **Total Debt Repaid (USD):** $38,766.48 - **Total Liquidation Bonus (USD):** $3,876.65 - **Total Liquidator Bonus (USD):** $2,713.65 - **Total Protocol Bonus (USD):** $1,162.99 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | AERO | 29,761.713998 | $13,340.78 | $12,127.98 | $1,212.80 | $848.96 | $363.84 | 10 | | cbXRP | 5,076.866000 | $9,716.18 | $8,832.89 | $883.29 | $618.30 | $264.99 | 2 | | cbETH | 2.352427 | $7,783.83 | $7,076.21 | $707.62 | $495.33 | $212.29 | 3 | | cbBTC | 0.054664 | $4,794.75 | $4,358.87 | $435.89 | $305.12 | $130.77 | 4 | | WELL | 590,794.388000 | $3,484.66 | $3,167.87 | $316.79 | $221.75 | $95.04 | 11 | | WETH | 0.568554 | $1,659.70 | $1,508.82 | $150.88 | $105.62 | $45.26 | 15 | | MAMO | 84,069.000000 | $1,532.05 | $1,392.77 | $139.28 | $97.49 | $41.78 | 1 | | weETH | 0.048704 | $154.16 | $140.14 | $14.01 | $9.81 | $4.20 | 1 | | USDC | 103.581300 | $103.55 | $94.14 | $9.41 | $6.59 | $2.82 | 3 | | wstETH | 0.016344 | $60.75 | $55.23 | $5.52 | $3.87 | $1.66 | 1 | | MORPHO | 5.968620 | $7.15 | $6.50 | $0.65 | $0.46 | $0.20 | 1 | | VIRTUAL | 6.756030 | $5.57 | $5.06 | $0.51 | $0.35 | $0.15 | 1 | ### Reserves & Bad Debt | **Asset** | **Price** | **Total Reserves** | **Total Reserves (USD)** | **Bad Debt** | **Bad Debt (USD)** | | --- | --- | --- | --- | --- | --- | | AERO | 0.472 | 176327.4142 | $83,226.54 | 463504.4107 | $201,461.27 | | cbBTC | 90387.36 | 0.4716 | $42,626.68 | 0.1471 | $12,465.37 | | cbETH | 3389.667 | 10.7221 | $36,344.35 | 47.9143 | $151,611.36 | | cbXRP | 1.923 | 503291.5509 | $967,829.65 | 1240031.591 | $2,229,081.21 | | DAI | 1 | 1844.6315 | $1,844.63 | 0 | $0.00 | | EURC | 1.195 | 23949.2662 | $28,619.37 | 156050.0281 | $186,578.59 | | LBTC | 90639.108 | 0.2016 | $18,272.84 | 0 | $0.00 | | MAMO | 0.02 | 6941.474 | $138.83 | 0 | $0.00 | | MORPHO | 1.216 | 14297.6324 | $17,385.92 | 119303.3657 | $142,305.06 | | rETH | 3495.686 | 2.9438 | $10,290.60 | 0.0005 | $1.61 | | tBTC | 90113.228 | 0.0747 | $6,731.46 | 0.0121 | $1,019.12 | | USDC | 1 | 115292.6941 | $115,292.69 | 80934.1629 | $81,055.76 | | USDS | 1 | 133.8528 | $133.85 | 0 | $0.00 | | VIRTUAL | 0.847 | 874242.2892 | $740,483.22 | 1963063.456 | $1,505,081.01 | | weETH | 3285.678 | 6.016 | $19,766.64 | 0.0033 | $10.12 | | WELL | 0.006 | 2540412.67 | $15,242.48 | 0 | $0.00 | | WETH | 3023.241 | 49.6789 | $150,191.29 | 0.2256 | $635.86 | | wrsETH | 3216.049 | 0.8118 | $2,610.79 | 0.0003 | $1.01 | | wstETH | 3704.538 | 6.6473 | $24,625.18 | 81.8391 | $283,028.00 | | | | | Total: $2,281,657.01 | | Total: $4,794,335.35 | ## OP Mainnet | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | cbETH | 0.00 | 0.00 | 0.00% | 0.00% | 97.78% | | DAI | 4.50M | 4.80M | 2.05% | 2.16% | 88.96% | | USDT0 | 8.00M | 10.00M | 0.74% | 0.67% | 87.90% | | USDT | 18.40M | 22.60M | 0.71% | 0.75% | 76.90% | | WETH | 30.00K | 32.00K | 3.89% | 5.11% | 71.31% | | USDC | 34.00M | 36.40M | 1.79% | 2.42% | 69.06% | | OP | 650.00K | 5.60M | 33.41% | 17.72% | 21.88% | | rETH | 150.00 | 750.00 | 1.65% | 2.45% | 13.47% | | VELO | 20.00M | 80.00M | 14.51% | 45.50% | 7.96% | | wstETH | 300.00 | 5.00K | 2.38% | 3.28% | 4.36% | | weETH | 4.00 | 10.00 | 27.02% | 426.38% | 2.54% | | wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.83% | ![image2](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/f/fb5ec10a12c19232c3e001224d32296f35413056.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | cbETH | +1% from 0.10 cbETH to 0.10 cbETH | **-63% from 0.27 cbETH to 0.10 cbETH** | **+170% from 36.79% to 99.41%** | | DAI | +22% from 78.19K DAI to 95.53K DAI | +20% from 89.05K DAI to 107.09K DAI | +2% from 87.81% to 89.21% | | USDT0 | +0% from 58.94K USDT0 to 59.24K USDT0 | +10% from 61.52K USDT0 to 67.55K USDT0 | -8% from 95.81% to 87.69% | | USDT | +31% from 102.47K USDT to 134.07K USDT | +31% from 133.10K USDT to 173.99K USDT | +0% from 76.98% to 77.05% | | WETH | +1% from 1.16K WETH to 1.17K WETH | +0% from 1.63K WETH to 1.64K WETH | +1% from 70.90% to 71.53% | | USDC | +30% from 470.47K USDC to 612.91K USDC | +2% from 867.69K USDC to 882.88K USDC | +28% from 54.22% to 69.42% | | OP | +5% from 199.67K OP to 209.49K OP | +2% from 974.37K OP to 998.25K OP | +2% from 20.49% to 20.99% | | rETH | +0% from 2.47 rETH to 2.47 rETH | +4% from 18.24 rETH to 18.91 rETH | -4% from 13.52% to 13.05% | | VELO | **-77% from 7.36M VELO to 1.70M VELO** | -1% from 36.36M VELO to 35.97M VELO | **-77% from 20.26% to 4.72%** | | wstETH | -11% from 7.19 wstETH to 6.42 wstETH | +9% from 152.51 wstETH to 166.44 wstETH | -18% from 4.72% to 3.86% | | weETH | 0% from 1.08 weETH to 1.08 weETH | -0% from 42.74 weETH to 42.64 weETH | +0% from 2.53% to 2.54% | | wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | +0% from 15.14 wrsETH to 15.14 wrsETH | -0% from 1.83% to 1.83% | ### Notable Trends - USDC borrows +30% (470.47K → 612.91K USDC) - VELO borrows -77% (7.36M → 1.70M VELO) - USDT supply +31% (133.10K → 173.99K USDT) ### Liquidations - **Total liquidations:** 4 - **Total Collateral Seized (USD):** $2,216.71 - **Total Debt Repaid (USD):** $2,015.19 - **Total Liquidation Bonus (USD):** $201.52 - **Total Liquidator Bonus (USD):** $141.06 - **Total Protocol Bonus (USD):** $60.46 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | OP | 7,884.152200 | $2,189.24 | $1,990.22 | $199.02 | $139.32 | $59.71 | 3 | | WETH | 0.009601 | $27.47 | $24.98 | $2.50 | $1.75 | $0.75 | 1 | ## Moonbeam | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | GLMR | 0.10 | 9324.73M% | 80.23% | | xcDOT | 0.10 | 19.54M% | 48.33% | | FRAX | 0.10 | 194.00K% | 46.64% | | xcUSDC | 0.10 | 17.10M% | 32.30% | | xcUSDT | 0.10 | 17.02M% | 21.09% | | USDC.wh | 0.10 | 12.89M% | 13.58% | | ETH.wh | 0.10 | 863.91% | 3.26% | | BTC.wh | 0.10 | 1.00% | 0.10% | ![image3](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/4/4a1eadbb2e4c1fc518e2f3bb3d6de23c4a7f598b.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | GLMR | +3% from 9.20M GLMR to 9.44M GLMR | +5% from 11.39M GLMR to 11.94M GLMR | -2% from 80.72% to 79.12% | | xcDOT | +0% from 19.54K xcDOT to 19.55K xcDOT | -0% from 1.10M xcDOT to 1.10M xcDOT | +0% from 48.32% to 48.35% | | FRAX | -0% from 194.27 FRAX to 193.59 FRAX | +0% from 38.71K FRAX to 38.71K FRAX | -0% from 46.64% to 46.63% | | xcUSDC | -0% from 17.10K xcUSDC to 17.08K xcUSDC | +0% from 52.85K xcUSDC to 53.09K xcUSDC | -1% from 32.37% to 32.17% | | xcUSDT | +0% from 17.02K xcUSDT to 17.04K xcUSDT | +0% from 80.72K xcUSDT to 80.74K xcUSDT | +0% from 21.08% to 21.10% | | USDC.wh | -0% from 12.93K USDC.wh to 12.89K USDC.wh | +0% from 94.89K USDC.wh to 94.90K USDC.wh | -0% from 13.63% to 13.58% | | ETH.wh | +0% from 0.86 ETH.wh to 0.86 ETH.wh | -1% from 26.61 ETH.wh to 26.46 ETH.wh | +1% from 3.25% to 3.27% | | BTC.wh | 0% from 0.00 BTC.wh to 0.00 BTC.wh | -0% from 1.06 BTC.wh to 1.06 BTC.wh | -4% from 0.10% to 0.09% | ### Liquidations - **Total liquidations:** 19 - **Total Collateral Seized (USD):** $192.85 - **Total Debt Repaid (USD):** $175.32 - **Total Liquidation Bonus (USD):** $17.53 - **Total Liquidator Bonus (USD):** $12.27 - **Total Protocol Bonus (USD):** $5.26 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | GLMR | 7,807.432124 | $154.39 | $140.35 | $14.04 | $9.82 | $4.21 | 18 | | xcUSDC | 38.467400 | $38.46 | $34.97 | $3.50 | $2.45 | $1.05 | 1 | ## Moonriver Following the full deprecation of Moonriver markets where collateral factors were reduced to zero, all remaining debt positions were liquidated ### Liquidations - **Total liquidations:** 175 - **Total Collateral Seized (USD):** $1,676.39 - **Total Debt Repaid (USD):** $1,523.99 - **Total Liquidation Bonus (USD):** $152.40 - **Total Liquidator Bonus (USD):** $106.68 - **Total Protocol Bonus (USD):** $45.72 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | MOVR | 506.580831 | $1,171.46 | $1,064.97 | $106.50 | $74.55 | $31.95 | 119 | | xcKSM | 51.011453 | $340.38 | $309.43 | $30.94 | $21.66 | $9.28 | 37 | | FRAX | 165.753500 | $164.56 | $149.60 | $14.96 | $10.47 | $4.49 | 19 | ---
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [February 5, 2026, 4:16pm UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/52 "2026-02-05T16:16:48Z")
# Weekly Update (1/30/26 - 2/5/26) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP Mainnet, and Moonbeam. Data from 1/30/26 to 2/5/26. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | USDS | 690.00K | 750.00K | 1.07% | 1.16% | 85.59% | | WETH | 64.00K | 96.00K | 7.94% | 6.51% | 81.36% | | USDC | 184.00M | 200.00M | 13.08% | 17.02% | 70.65% | | EURC | 21.00M | 21.90M | 5.07% | 7.12% | 68.47% | | DAI | 300.00K | 400.00K | 4.29% | 5.70% | 56.35% | | cbXRP | 1.60M | 5.00M | 99.94% | 64.30% | 49.76% | | VIRTUAL | 10.00K | 4.50M | 19.85K% | 92.53% | 47.70% | | MAMO | 3.00M | 20.00M | 38.66% | 19.37% | 30.45% | | AERO | 25.00M | 70.00M | 20.37% | 30.58% | 23.83% | | cbETH | 1.00K | 16.00K | 34.58% | 10.69% | 20.22% | | WELL | 34.00M | 250.00M | 66.69% | 52.24% | 17.37% | | cbBTC | 640.00 | 1.50K | 6.29% | 19.26% | 13.95% | | weETH | 200.00 | 5.40K | 5.94% | 1.65% | 13.34% | | LBTC | 10.00 | 95.00 | 26.48% | 34.47% | 8.00% | | tBTC | 5.00 | 50.00 | 5.75% | 8.35% | 6.81% | | wstETH | 1.20K | 14.40K | 12.26% | 26.95% | 3.79% | | MORPHO | 100.00K | 6.00M | 219.56% | 96.79% | 3.78% | | rETH | 200.00 | 2.60K | 9.50% | 30.67% | 2.38% | | wrsETH | 0.00 | 1.00 | 0.00% | 5.51K% | 0.03% | ![image1](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/5/547628b9f4fbbc8b46730e53ae6afe976082f06f.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | USDS | +2% from 7.57K USDS to 7.69K USDS | +40% from 9.31K USDS to 13.00K USDS | -27% from 81.36% to 59.13% | | WETH | +3% from 5.47K WETH to 5.65K WETH | +6% from 6.57K WETH to 6.93K WETH | -2% from 83.34% to 81.53% | | USDC | -17% from 25.60M USDC to 21.31M USDC | -7% from 35.14M USDC to 32.52M USDC | -10% from 72.85% to 65.54% | | EURC | -22% from 1.16M EURC to 908.30K EURC | -21% from 1.68M EURC to 1.34M EURC | -1% from 68.90% to 67.91% | | DAI | -12% from 13.43K DAI to 11.81K DAI | +0% from 22.81K DAI to 22.83K DAI | -12% from 58.88% to 51.72% | | cbXRP | +0% from 1.60M cbXRP to 1.60M cbXRP | +10% from 3.10M cbXRP to 3.40M cbXRP | -9% from 51.60% to 47.05% | | VIRTUAL | -0% from 1.99M VIRTUAL to 1.99M VIRTUAL | +6% from 4.05M VIRTUAL to 4.30M VIRTUAL | -6% from 49.21% to 46.19% | | MAMO | **+91% from 740.25K MAMO to 1.41M MAMO** | **+95% from 2.49M MAMO to 4.86M MAMO** | -2% from 29.73% to 29.04% | | AERO | +5% from 5.07M AERO to 5.33M AERO | +12% from 19.98M AERO to 22.35M AERO | -6% from 25.38% to 23.85% | | cbETH | +10% from 339.03 cbETH to 373.14 cbETH | +8% from 1.67K cbETH to 1.80K cbETH | +2% from 20.29% to 20.75% | | WELL | +2% from 22.28M WELL to 22.75M WELL | +7% from 130.12M WELL to 139.34M WELL | -5% from 17.12% to 16.33% | | cbBTC | -5% from 42.35 cbBTC to 40.10 cbBTC | -6% from 296.96 cbBTC to 278.02 cbBTC | +1% from 14.26% to 14.42% | | weETH | -1% from 11.95 weETH to 11.81 weETH | -1% from 88.57 weETH to 88.00 weETH | -1% from 13.49% to 13.42% | | LBTC | **-64% from 3.83 LBTC to 1.39 LBTC** | -5% from 33.22 LBTC to 31.57 LBTC | **-62% from 11.54% to 4.40%** | | tBTC | -24% from 0.49 tBTC to 0.38 tBTC | -6% from 4.37 tBTC to 4.11 tBTC | -19% from 11.30% to 9.17% | | wstETH | -0% from 147.17 wstETH to 147.15 wstETH | -1% from 3.89K wstETH to 3.85K wstETH | +1% from 3.78% to 3.82% | | MORPHO | -0% from 219.67K MORPHO to 219.01K MORPHO | -1% from 5.79M MORPHO to 5.73M MORPHO | +1% from 3.79% to 3.82% | | rETH | -14% from 20.91 rETH to 17.89 rETH | -2% from 810.81 rETH to 792.40 rETH | -12% from 2.58% to 2.26% | | wrsETH | 0% from 0.01 wrsETH to 0.01 wrsETH | -0% from 55.19 wrsETH to 54.96 wrsETH | +0% from 0.03% to 0.03% | ### Notable Trends - MAMO supply +95% (2.49M to 4.86M MAMO) - MAMO borrows +91% (740.25K to 1.41M MAMO) - USDC borrows -17% (25.60M → 21.31M USDC) - AERO supply +12% (19.98M → 22.35M AERO) - cbXRP supply +10% (3.10M → 3.40M cbXRP) ### Liquidations - **Total liquidations:** 1,087 - **Total Collateral Seized (USD):** $2,959,511.39 - **Total Debt Repaid (USD):** $2,690,464.90 - **Total Liquidation Bonus (USD):** $269,046.49 - **Total Liquidator Bonus (USD):** $188,332.54 - **Total Protocol Bonus (USD):** $80,713.95 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | cbBTC | 22.823476 | $1,667,642.35 | $1,516,038.50 | $151,603.85 | $106,122.69 | $45,481.15 | 188 | | WETH | 216.665380 | $465,066.19 | $422,787.45 | $42,278.74 | $29,595.12 | $12,683.62 | 482 | | cbETH | 105.591113 | $256,054.14 | $232,776.49 | $23,277.65 | $16,294.35 | $6,983.29 | 30 | | AERO | 553,312.578433 | $196,804.92 | $178,913.57 | $17,891.36 | $12,523.95 | $5,367.41 | 180 | | cbXRP | 111,383.607641 | $169,156.81 | $153,778.92 | $15,377.89 | $10,764.52 | $4,613.37 | 63 | | wstETH | 33.230626 | $81,988.45 | $74,534.96 | $7,453.50 | $5,217.45 | $2,236.05 | 22 | | rETH | 20.264689 | $59,281.68 | $53,892.44 | $5,389.24 | $3,772.47 | $1,616.77 | 9 | | USDC | 21,529.628500 | $21,521.82 | $19,565.29 | $1,956.53 | $1,369.57 | $586.96 | 8 | | WELL | 3,685,464.636000 | $17,631.92 | $16,029.02 | $1,602.90 | $1,122.03 | $480.87 | 35 | | VIRTUAL | 19,400.686178 | $12,258.59 | $11,144.17 | $1,114.42 | $780.09 | $334.33 | 25 | | LBTC | 0.079106 | $5,968.07 | $5,425.52 | $542.55 | $379.79 | $162.77 | 14 | | MAMO | 159,984.590000 | $2,181.62 | $1,983.29 | $198.33 | $138.83 | $59.50 | 3 | | tBTC | 0.026160 | $1,848.68 | $1,680.61 | $168.06 | $117.64 | $50.42 | 2 | | MORPHO | 721.399800 | $880.62 | $800.56 | $80.06 | $56.04 | $24.02 | 3 | | EURC | 522.017092 | $616.16 | $560.14 | $56.01 | $39.21 | $16.80 | 2 | | weETH | 0.233631 | $593.13 | $539.21 | $53.92 | $37.74 | $16.18 | 14 | | wrsETH | 0.005641 | $14.32 | $13.02 | $1.30 | $0.91 | $0.39 | 4 | | DAI | 1.075160 | $1.07 | $0.98 | $0.10 | $0.07 | $0.03 | 1 | | USDS | 0.437665 | $0.44 | $0.40 | $0.04 | $0.03 | $0.01 | 1 | | USDbC | 0.390742 | $0.39 | $0.36 | $0.04 | $0.02 | $0.01 | 1 | ![image2](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/7/7cba2fc54fa5c75a95004c7c5fa7aeb77824e99a.jpeg) ![image3](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/b/b507e9b0b621179ca2dc5fa22bea0f260dbc60a3.jpeg) ## OP Mainnet | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | cbETH | 0.00 | 0.00 | 0.00% | 0.00% | 99.43% | | DAI | 4.50M | 4.80M | 2.37% | 2.49% | 89.49% | | USDT0 | 8.00M | 10.00M | 0.69% | 0.64% | 86.98% | | USDT | 18.40M | 22.60M | 0.93% | 0.94% | 80.91% | | USDC | 34.00M | 36.40M | 1.24% | 1.80% | 64.23% | | WETH | 30.00K | 32.00K | 1.81% | 3.28% | 42.28% | | OP | 650.00K | 5.60M | 29.41% | 17.58% | 19.42% | | rETH | 150.00 | 750.00 | 1.64% | 2.50% | 13.17% | | VELO | 20.00M | 80.00M | 8.42% | 42.30% | 4.98% | | wstETH | 300.00 | 5.00K | 1.83% | 3.30% | 3.32% | | weETH | 4.00 | 10.00 | 27.03% | 423.41% | 2.55% | | wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.83% | ![image4](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/c/c27b1f14bc125a3d90b6c9f026624e50f51f7550.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | cbETH | +4% from 0.10 cbETH to 0.10 cbETH | +4% from 0.10 cbETH to 0.11 cbETH | +0% from 99.41% to 99.43% | | DAI | +5% from 102.04K DAI to 107.55K DAI | +6% from 113.60K DAI to 120.38K DAI | -1% from 89.82% to 89.34% | | USDT0 | -21% from 59.28K USDT0 to 46.71K USDT0 | -10% from 67.73K USDT0 to 61.27K USDT0 | -13% from 87.52% to 76.24% | | USDT | -4% from 173.93K USDT to 167.82K USDT | +0% from 213.97K USDT to 214.97K USDT | -4% from 81.29% to 78.06% | | USDC | -7% from 441.94K USDC to 410.10K USDC | -6% from 703.72K USDC to 659.65K USDC | -1% from 62.80% to 62.17% | | WETH | -8% from 1.17K WETH to 1.08K WETH | -4% from 1.64K WETH to 1.58K WETH | -4% from 71.37% to 68.32% | | OP | -2% from 194.05K OP to 190.42K OP | -2% from 975.75K OP to 957.38K OP | +0% from 19.89% to 19.89% | | rETH | +0% from 2.47 rETH to 2.47 rETH | -5% from 18.91 rETH to 17.99 rETH | +5% from 13.05% to 13.71% | | VELO | +2% from 1.69M VELO to 1.73M VELO | -9% from 35.34M VELO to 32.29M VELO | +12% from 4.79% to 5.37% | | wstETH | +1% from 6.42 wstETH to 6.50 wstETH | -3% from 165.47 wstETH to 161.26 wstETH | +4% from 3.88% to 4.03% | | weETH | +0% from 1.08 weETH to 1.08 weETH | -1% from 42.64 weETH to 42.18 weETH | +1% from 2.54% to 2.56% | | wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | -0% from 15.14 wrsETH to 15.14 wrsETH | +0% from 1.83% to 1.83% | ### Notable Trends - WETH borrows -8% (1.17K → 1.08K WETH) - VELO supply -9% (35.34M → 32.29M VELO) - USDC supply -6% (703.72K → 659.65K USDC) ### Liquidations - **Total liquidations:** 130 - **Total Collateral Seized (USD):** $94,438.45 - **Total Debt Repaid (USD):** $85,853.14 - **Total Liquidation Bonus (USD):** $8,585.31 - **Total Liquidator Bonus (USD):** $6,009.72 - **Total Protocol Bonus (USD):** $2,575.59 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | VELO | 3,119,943.895240 | $47,685.92 | $43,350.84 | $4,335.08 | $3,034.56 | $1,300.53 | 28 | | wstETH | 6.736724 | $17,391.58 | $15,810.53 | $1,581.05 | $1,106.74 | $474.32 | 9 | | USDC | 15,155.008970 | $15,151.16 | $13,773.78 | $1,377.38 | $964.16 | $413.21 | 7 | | WETH | 4.075779 | $9,215.87 | $8,378.06 | $837.81 | $586.46 | $251.34 | 16 | | rETH | 0.932149 | $2,223.36 | $2,021.24 | $202.12 | $141.49 | $60.64 | 7 | | OP | 8,405.224740 | $1,927.14 | $1,751.95 | $175.19 | $122.64 | $52.56 | 43 | | weETH | 0.307039 | $819.53 | $745.03 | $74.50 | $52.15 | $22.35 | 18 | | USDT0 | 12.755200 | $12.74 | $11.58 | $1.16 | $0.81 | $0.35 | 1 | | wrsETH | 0.004859 | $11.14 | $10.13 | $1.01 | $0.71 | $0.30 | 1 | ![image5](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/5/54cdf8d7671c743e34720f5a63d7ddaf4996e27e.jpeg) ![image6](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/0/08c6aecb0b263cfba3aeae3d200f541217351be8.jpeg) ## Moonbeam | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | GLMR | 0.10 | 9614.30M% | 76.54% | | xcDOT | 0.10 | 19.55M% | 48.45% | | FRAX | 0.10 | 177.39K% | 46.59% | | xcUSDC | 0.10 | 14.51M% | 27.36% | | xcUSDT | 0.10 | 15.70M% | 19.45% | | USDC.wh | 0.10 | 11.82M% | 12.45% | | ETH.wh | 0.10 | 863.01% | 3.29% | | BTC.wh | 0.10 | 1.00% | 0.10% | ![image7](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/9/980ceec5b813a4688024b0e8fea289e6c6eb74a6.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | GLMR | +2% from 9.49M GLMR to 9.73M GLMR | +9% from 11.96M GLMR to 12.98M GLMR | -6% from 79.38% to 74.92% | | xcDOT | +0% from 19.55K xcDOT to 19.55K xcDOT | -0% from 1.10M xcDOT to 1.10M xcDOT | +0% from 48.35% to 48.57% | | FRAX | -18% from 193.59 FRAX to 159.13 FRAX | -0% from 38.71K FRAX to 38.70K FRAX | -0% from 46.63% to 46.56% | | xcUSDC | -36% from 17.08K xcUSDC to 10.87K xcUSDC | -0% from 53.09K xcUSDC to 52.93K xcUSDC | -36% from 32.17% to 20.54% | | xcUSDT | -16% from 17.04K xcUSDT to 14.27K xcUSDT | -0% from 80.74K xcUSDT to 80.68K xcUSDT | -16% from 21.10% to 17.69% | | USDC.wh | -17% from 12.81K USDC.wh to 10.64K USDC.wh | -0% from 94.91K USDC.wh to 94.88K USDC.wh | -17% from 13.50% to 11.21% | | ETH.wh | -2% from 0.86 ETH.wh to 0.84 ETH.wh | -2% from 26.46 ETH.wh to 25.85 ETH.wh | -0% from 3.27% to 3.26% | | BTC.wh | -10% from 0.00 BTC.wh to 0.00 BTC.wh | -1% from 1.06 BTC.wh to 1.05 BTC.wh | -12% from 0.09% to 0.08% | ### Liquidations - **Total liquidations:** 436 - **Total Collateral Seized (USD):** $10,929.09 - **Total Debt Repaid (USD):** $9,935.54 - **Total Liquidation Bonus (USD):** $993.55 - **Total Liquidator Bonus (USD):** $695.49 - **Total Protocol Bonus (USD):** $298.07 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | xcDOT | 5,124.430133 | $7,554.86 | $6,868.05 | $686.81 | $480.76 | $206.04 | 152 | | GLMR | 94,185.954577 | $1,549.74 | $1,408.85 | $140.89 | $98.62 | $42.27 | 153 | | ETH\_wh | 0.491312 | $1,128.19 | $1,025.62 | $102.56 | $71.79 | $30.77 | 86 | | BTC\_wh | 0.006403 | $453.69 | $412.44 | $41.24 | $28.87 | $12.37 | 11 | | xcUSDC | 217.347588 | $217.33 | $197.57 | $19.76 | $13.83 | $5.93 | 31 | | xcUSDT | 14.124010 | $14.11 | $12.82 | $1.28 | $0.90 | $0.38 | 2 | | FRAX | 11.290700 | $11.18 | $10.17 | $1.02 | $0.71 | $0.31 | 1 | ![image8](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/d/dcd4f15fb4f122866b765fc6dcd24b043d415f9d.jpeg) ![image9](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/e/e42495d222340498cb8143107296336c75bc320c.png) ---
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [February 12, 2026, 5:52pm UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/53 "2026-02-12T17:52:11Z")
# Weekly Update (2/6/26 - 2/12/26) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, and Moonbeam. Data from 2/6/26 to 2/12/26. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | WETH | 64.00K | 96.00K | 9.04% | 7.29% | 82.65% | | USDS | 690.00K | 750.00K | 1.24% | 1.53% | 76.93% | | EURC | 21.00M | 21.90M | 3.64% | 6.39% | 56.07% | | USDC | 184.00M | 200.00M | 7.70% | 12.93% | 56.02% | | DAI | 300.00K | 400.00K | 4.06% | 5.69% | 53.48% | | MAMO | 3.00M | 20.00M | 67.23% | 19.64% | 51.82% | | VIRTUAL | 10.00K | 4.50M | 19.84K% | 90.15% | 48.93% | | cbXRP | 1.60M | 5.00M | 100.09% | 66.97% | 47.83% | | AERO | 25.00M | 70.00M | 21.19% | 24.38% | 31.07% | | cbBTC | 640.00 | 1.50K | 6.13% | 12.47% | 21.16% | | WELL | 34.00M | 250.00M | 66.08% | 53.18% | 16.90% | | cbETH | 1.00K | 16.00K | 26.91% | 11.43% | 14.72% | | weETH | 200.00 | 5.40K | 5.90% | 1.68% | 13.09% | | tBTC | 5.00 | 50.00 | 6.13% | 7.74% | 7.92% | | LBTC | 10.00 | 95.00 | 15.54% | 35.07% | 4.64% | | wstETH | 1.20K | 14.40K | 12.23% | 26.60% | 3.83% | | MORPHO | 100.00K | 6.00M | 219.02% | 96.00% | 3.80% | | rETH | 200.00 | 2.60K | 7.65% | 30.78% | 1.91% | | wrsETH | 0.00 | 1.00 | 0.00% | 3.89K% | 0.04% | ![image1](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/6/631841517bf7b9fb0c5e77839a72fd2da7fa3de4.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | WETH | +5% from 5.68K WETH to 5.99K WETH | -2% from 6.93K WETH to 6.78K WETH | +8% from 81.89% to 88.31% | | USDS | +14% from 7.61K USDS to 8.64K USDS | -23% from 13.00K USDS to 10.03K USDS | **+47% from 58.56% to 86.16%** | | EURC | -14% from 894.35K EURC to 765.41K EURC | -6% from 1.34M EURC to 1.26M EURC | -9% from 66.90% to 60.74% | | USDC | -33% from 20.57M USDC to 13.87M USDC | -31% from 32.21M USDC to 22.34M USDC | -3% from 63.86% to 62.09% | | DAI | +8% from 11.70K DAI to 12.68K DAI | -0% from 22.83K DAI to 22.74K DAI | +9% from 51.26% to 55.77% | | MAMO | **-65% from 1.41M MAMO to 499.52K MAMO** | -20% from 4.77M MAMO to 3.83M MAMO | **-56% from 29.69% to 13.05%** | | VIRTUAL | +0% from 1.98M VIRTUAL to 1.99M VIRTUAL | -10% from 4.33M VIRTUAL to 3.89M VIRTUAL | +11% from 45.77% to 51.02% | | cbXRP | +0% from 1.60M cbXRP to 1.60M cbXRP | -1% from 3.43M cbXRP to 3.38M cbXRP | +2% from 46.68% to 47.40% | | AERO | -1% from 5.33M AERO to 5.29M AERO | -17% from 20.79M AERO to 17.16M AERO | +20% from 25.64% to 30.85% | | cbBTC | -5% from 40.05 cbBTC to 38.20 cbBTC | -34% from 277.73 cbBTC to 183.57 cbBTC | **+44% from 14.42% to 20.81%** | | WELL | -21% from 24.64M WELL to 19.47M WELL | -5% from 139.12M WELL to 132.79M WELL | -17% from 17.71% to 14.66% | | cbETH | -19% from 323.14 cbETH to 262.59 cbETH | -3% from 1.80K cbETH to 1.74K cbETH | -16% from 18.00% to 15.11% | | weETH | -0% from 11.81 weETH to 11.81 weETH | -1% from 87.99 weETH to 87.25 weETH | +1% from 13.42% to 13.53% | | tBTC | -0% from 0.33 tBTC to 0.33 tBTC | -5% from 4.11 tBTC to 3.92 tBTC | +5% from 8.06% to 8.46% | | LBTC | **+93% from 1.35 LBTC to 2.60 LBTC** | +34% from 31.60 LBTC to 42.26 LBTC | **+45% from 4.26% to 6.16%** | | wstETH | -0% from 147.15 wstETH to 146.71 wstETH | -6% from 3.85K wstETH to 3.63K wstETH | +6% from 3.82% to 4.04% | | MORPHO | +0% from 219.01K MORPHO to 219.03K MORPHO | +5% from 5.71M MORPHO to 6.01M MORPHO | -5% from 3.84% to 3.64% | | rETH | +0% from 15.30 rETH to 15.31 rETH | -0% from 792.56 rETH to 791.26 rETH | +0% from 1.93% to 1.93% | | wrsETH | 0% from 0.01 wrsETH to 0.01 wrsETH | -35% from 54.96 wrsETH to 35.67 wrsETH | **+54% from 0.03% to 0.04%** | ### Notable Trends - USDC supply -31% (32.21M → 22.34M USDC) - cbBTC supply -34% (277.73 → 183.57 cbBTC) - AERO supply -17% (20.79M → 17.16M AERO) - LBTC supply +34% (31.60 → 42.26 LBTC) ### Liquidations - **Total liquidations:** 263 - **Total Collateral Seized (USD):** $1,235,517.56 - **Total Debt Repaid (USD):** $1,123,197.79 - **Total Liquidation Bonus (USD):** $112,319.78 - **Total Liquidator Bonus (USD):** $78,623.85 - **Total Protocol Bonus (USD):** $33,695.93 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | AERO | 1,769,471.047180 | $500,863.63 | $455,330.57 | $45,533.06 | $31,873.14 | $13,659.92 | 70 | | cbBTC | 7.838841 | $475,891.37 | $432,628.52 | $43,262.85 | $30,284.00 | $12,978.86 | 50 | | cbXRP | 86,548.811610 | $99,259.13 | $90,235.57 | $9,023.56 | $6,316.49 | $2,707.07 | 7 | | cbETH | 24.885973 | $49,216.88 | $44,742.62 | $4,474.26 | $3,131.98 | $1,342.28 | 5 | | WETH | 16.238383 | $29,252.62 | $26,593.29 | $2,659.33 | $1,861.53 | $797.80 | 86 | | USDC | 26,826.187900 | $26,822.24 | $24,383.86 | $2,438.39 | $1,706.87 | $731.52 | 16 | | wrsETH | 12.080100 | $22,530.80 | $20,482.55 | $2,048.25 | $1,433.78 | $614.48 | 1 | | VIRTUAL | 41,787.873230 | $19,903.12 | $18,093.74 | $1,809.37 | $1,266.56 | $542.81 | 10 | | LBTC | 0.153466 | $9,340.64 | $8,491.49 | $849.15 | $594.40 | $254.74 | 6 | | rETH | 0.674720 | $1,450.25 | $1,318.41 | $131.84 | $92.29 | $39.55 | 2 | | EURC | 430.292000 | $507.27 | $461.15 | $46.12 | $32.28 | $13.83 | 2 | | tBTC | 0.006674 | $404.25 | $367.50 | $36.75 | $25.72 | $11.02 | 2 | | WELL | 9,620.500000 | $35.78 | $32.53 | $3.25 | $2.28 | $0.98 | 1 | | wstETH | 0.012422 | $27.58 | $25.07 | $2.51 | $1.75 | $0.75 | 3 | | weETH | 0.003107 | $6.09 | $5.53 | $0.55 | $0.39 | $0.17 | 1 | | MORPHO | 5.818670 | $5.92 | $5.38 | $0.54 | $0.38 | $0.16 | 1 | ## OP Mainnet | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | cbETH | 0.00 | 0.00 | 0.00% | 0.00% | 99.45% | | USDT0 | 8.00M | 10.00M | 0.58% | 0.56% | 82.61% | | DAI | 4.50M | 4.80M | 0.79% | 0.94% | 76.91% | | USDT | 18.40M | 22.60M | 0.87% | 0.95% | 74.48% | | WETH | 30.00K | 32.00K | 2.92% | 4.23% | 64.16% | | USDC | 34.00M | 36.40M | 0.93% | 1.74% | 49.92% | | OP | 650.00K | 5.60M | 20.07% | 16.55% | 14.08% | | rETH | 150.00 | 750.00 | 1.64% | 2.40% | 13.72% | | VELO | 20.00M | 80.00M | 8.72% | 38.79% | 5.62% | | wstETH | 300.00 | 5.00K | 2.17% | 3.15% | 4.12% | | weETH | 4.00 | 10.00 | 27.03% | 421.52% | 2.56% | | wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.83% | ![image2](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/e/ee72b15ba329859e8a25d15a6352c484c8bf8bb3.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | cbETH | +3% from 0.10 cbETH to 0.11 cbETH | +3% from 0.11 cbETH to 0.11 cbETH | +0% from 99.43% to 99.45% | | USDT0 | -1% from 46.72K USDT0 to 46.40K USDT0 | -9% from 60.25K USDT0 to 54.77K USDT0 | +9% from 77.54% to 84.72% | | DAI | **-66% from 107.55K DAI to 36.63K DAI** | **-63% from 120.38K DAI to 44.77K DAI** | -8% from 89.34% to 81.84% | | USDT | -4% from 163.87K USDT to 157.26K USDT | -1% from 214.98K USDT to 213.84K USDT | -4% from 76.23% to 73.54% | | WETH | -32% from 1.08K WETH to 732.27 WETH | -24% from 1.58K WETH to 1.21K WETH | -11% from 68.34% to 60.73% | | USDC | -22% from 408.14K USDC to 316.93K USDC | +1% from 637.54K USDC to 642.78K USDC | -23% from 64.02% to 49.31% | | OP | -28% from 142.13K OP to 102.68K OP | -1% from 938.65K OP to 925.12K OP | -27% from 15.14% to 11.10% | | rETH | +0% from 2.47 rETH to 2.47 rETH | -0% from 17.99 rETH to 17.99 rETH | +0% from 13.71% to 13.72% | | VELO | +1% from 1.73M VELO to 1.75M VELO | -5% from 32.29M VELO to 30.53M VELO | +7% from 5.36% to 5.73% | | wstETH | +0% from 6.50 wstETH to 6.50 wstETH | -3% from 160.26 wstETH to 156.15 wstETH | +3% from 4.06% to 4.16% | | weETH | +0% from 1.08 weETH to 1.08 weETH | -0% from 42.18 weETH to 42.05 weETH | +0% from 2.56% to 2.57% | | wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | 0% from 15.14 wrsETH to 15.14 wrsETH | 0% from 1.83% to 1.83% | ### Notable Trends - WETH supply -24% (1.58K → 1.21K WETH) - WETH borrows -32% (1.08K → 732.27 WETH) - USDC borrows -22% (408.14K → 316.93K USDC) ### Liquidations - **Total liquidations:** 43 - **Total Collateral Seized (USD):** $34,339.83 - **Total Debt Repaid (USD):** $31,218.03 - **Total Liquidation Bonus (USD):** $3,121.80 - **Total Liquidator Bonus (USD):** $2,185.26 - **Total Protocol Bonus (USD):** $936.54 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | WETH | 9.991700 | $17,594.92 | $15,995.38 | $1,599.54 | $1,119.68 | $479.86 | 5 | | VELO | 1,050,198.656700 | $12,956.99 | $11,779.08 | $1,177.91 | $824.54 | $353.37 | 12 | | OP | 22,639.972052 | $3,697.04 | $3,360.95 | $336.09 | $235.27 | $100.83 | 23 | | wstETH | 0.038241 | $82.20 | $74.73 | $7.47 | $5.23 | $2.24 | 1 | | weETH | 0.004063 | $7.77 | $7.06 | $0.71 | $0.49 | $0.21 | 1 | | rETH | 0.000434 | $0.91 | $0.83 | $0.08 | $0.06 | $0.02 | 1 | ## Moonbeam | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | GLMR | 0.10 | 9838.14M% | 76.81% | | xcDOT | 0.10 | 19.56M% | 48.68% | | FRAX | 0.10 | 153.98K% | 46.55% | | xcUSDC | 0.10 | 9.22M% | 17.49% | | xcUSDT | 0.10 | 12.26M% | 15.19% | | USDC.wh | 0.10 | 9.35M% | 9.86% | | ETH.wh | 0.10 | 842.90% | 3.26% | | BTC.wh | 0.10 | 0.80% | 0.08% | ![image3](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/3/34b0c507754d5d35adbf6d6eaeec655124b45d0f.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | GLMR | +2% from 9.73M GLMR to 9.95M GLMR | -4% from 12.99M GLMR to 12.42M GLMR | +7% from 74.88% to 80.15% | | xcDOT | +0% from 19.55K xcDOT to 19.56K xcDOT | -0% from 1.10M xcDOT to 1.09M xcDOT | +0% from 48.57% to 48.70% | | FRAX | -4% from 158.05 FRAX to 152.30 FRAX | -0% from 38.70K FRAX to 38.70K FRAX | -0% from 46.56% to 46.54% | | xcUSDC | -15% from 10.80K xcUSDC to 9.17K xcUSDC | -1% from 52.93K xcUSDC to 52.62K xcUSDC | -15% from 20.40% to 17.42% | | xcUSDT | -12% from 13.72K xcUSDT to 12.14K xcUSDT | +0% from 80.68K xcUSDT to 80.69K xcUSDT | -12% from 17.01% to 15.04% | | USDC.wh | -16% from 10.62K USDC.wh to 8.89K USDC.wh | +0% from 94.88K USDC.wh to 94.92K USDC.wh | -16% from 11.19% to 9.37% | | ETH.wh | +0% from 0.84 ETH.wh to 0.84 ETH.wh | +0% from 25.85 ETH.wh to 25.96 ETH.wh | -0% from 3.26% to 3.25% | | BTC.wh | -11% from 0.00 BTC.wh to 0.00 BTC.wh | -1% from 1.05 BTC.wh to 1.04 BTC.wh | -7% from 0.08% to 0.08% | ### Liquidations - **Total liquidations:** 372 - **Total Collateral Seized (USD):** $4,219.88 - **Total Debt Repaid (USD):** $3,836.26 - **Total Liquidation Bonus (USD):** $383.63 - **Total Liquidator Bonus (USD):** $268.54 - **Total Protocol Bonus (USD):** $115.09 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | xcDOT | 2,391.312889 | $2,889.83 | $2,627.11 | $262.71 | $183.90 | $78.81 | 197 | | GLMR | 63,236.811173 | $840.85 | $764.41 | $76.44 | $53.51 | $22.93 | 97 | | xcUSDC | 314.589110 | $314.59 | $285.99 | $28.60 | $20.02 | $8.58 | 55 | | BTC\_wh | 0.001904 | $116.18 | $105.62 | $10.56 | $7.39 | $3.17 | 4 | | ETH\_wh | 0.027281 | $50.56 | $45.97 | $4.60 | $3.22 | $1.38 | 15 | | xcUSDT | 7.722320 | $7.71 | $7.01 | $0.70 | $0.49 | $0.21 | 1 | | FRAX | 0.166778 | $0.17 | $0.15 | $0.02 | $0.01 | $0.00 | 3 | ---
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [February 19, 2026, 4:30pm UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/54 "2026-02-19T16:30:30Z")
# Weekly Update (2/13/26 - 2/19/26) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, and Moonbeam. Data from 2/13/26 to 2/19/26. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | USDS | 690.00K | 750.00K | 1.24% | 1.26% | 90.66% | | WETH | 64.00K | 96.00K | 8.21% | 6.54% | 83.78% | | USDC | 184.00M | 200.00M | 7.21% | 10.60% | 62.85% | | cbETH | 0.01 | 0.01 | 0.00% | 0.00% | 62.58% | | VIRTUAL | 10.00K | 4.50M | 19.92K% | 79.92% | 55.76% | | EURC | 21.00M | 21.90M | 3.20% | 5.52% | 55.53% | | DAI | 300.00K | 400.00K | 3.85% | 5.68% | 50.91% | | cbXRP | 1.60M | 5.00M | 99.95% | 65.45% | 48.90% | | AERO | 25.00M | 70.00M | 20.52% | 21.81% | 34.24% | | MAMO | 3.00M | 20.00M | 22.02% | 12.26% | 27.49% | | cbBTC | 640.00 | 1.50K | 4.72% | 11.99% | 16.73% | | weETH | 200.00 | 5.40K | 5.89% | 1.37% | 16.29% | | WELL | 34.00M | 250.00M | 58.73% | 52.06% | 15.35% | | USDbC | 1.00 | 1.00 | 95.86K% | 842.07K% | 11.38% | | tBTC | 5.00 | 50.00 | 5.39% | 6.78% | 7.71% | | LBTC | 10.00 | 95.00 | 25.81% | 51.12% | 5.18% | | wstETH | 1.20K | 14.40K | 12.14% | 21.41% | 4.84% | | MORPHO | 100.00K | 6.00M | 218.35% | 95.79% | 3.80% | | rETH | 200.00 | 2.60K | 7.65% | 29.95% | 1.97% | | wrsETH | 0.01 | 1.00 | 0.00% | 3.57K% | 0.04% | ![image11](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/b/be7466053739a7eb83372b883b8c239440020f7f.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | USDS | -2% from 8.64K USDS to 8.46K USDS | -14% from 10.03K USDS to 8.64K USDS | +14% from 86.16% to 97.99% | | WETH | -25% from 6.00K WETH to 4.48K WETH | -23% from 6.75K WETH to 5.20K WETH | -3% from 88.98% to 86.30% | | USDC | -8% from 13.87M USDC to 12.76M USDC | -5% from 22.31M USDC to 21.15M USDC | -3% from 62.15% to 60.33% | | cbETH | **+172% from 262.59 cbETH to 714.74 cbETH** | **-59% from 1.74K cbETH to 714.74 cbETH** | **+562% from 15.11% to 100.00%** | | VIRTUAL | +1% from 1.99M VIRTUAL to 2.00M VIRTUAL | -16% from 3.90M VIRTUAL to 3.28M VIRTUAL | +20% from 50.92% to 61.13% | | EURC | -15% from 728.41K EURC to 616.19K EURC | -11% from 1.26M EURC to 1.12M EURC | -5% from 57.80% to 55.19% | | DAI | -13% from 12.68K DAI to 11.00K DAI | -0% from 22.74K DAI to 22.68K DAI | -13% from 55.77% to 48.48% | | cbXRP | -2% from 1.60M cbXRP to 1.57M cbXRP | -10% from 3.38M cbXRP to 3.03M cbXRP | +10% from 47.40% to 51.98% | | AERO | -14% from 5.29M AERO to 4.55M AERO | -28% from 17.57M AERO to 12.69M AERO | +19% from 30.12% to 35.88% | | MAMO | +1% from 579.29K MAMO to 582.66K MAMO | -28% from 3.83M MAMO to 2.74M MAMO | **+40% from 15.13% to 21.24%** | | cbBTC | **-56% from 38.67 cbBTC to 16.83 cbBTC** | -4% from 183.57 cbBTC to 177.15 cbBTC | **-55% from 21.06% to 9.50%** | | weETH | -0% from 11.81 weETH to 11.75 weETH | -27% from 87.25 weETH to 63.51 weETH | +37% from 13.53% to 18.50% | | WELL | +7% from 19.47M WELL to 20.78M WELL | -4% from 132.08M WELL to 127.41M WELL | +11% from 14.74% to 16.31% | | USDbC | -10% from 1.02K USDbC to 916.06 USDbC | -0% from 8.43K USDbC to 8.41K USDbC | -10% from 12.05% to 10.89% | | tBTC | **-57% from 0.33 tBTC to 0.14 tBTC** | -35% from 3.92 tBTC to 2.54 tBTC | -34% from 8.46% to 5.56% | | LBTC | **-45% from 2.60 LBTC to 1.43 LBTC** | -1% from 42.27 LBTC to 42.03 LBTC | **-45% from 6.16% to 3.40%** | | wstETH | -2% from 146.71 wstETH to 143.54 wstETH | -28% from 3.63K wstETH to 2.61K wstETH | +36% from 4.04% to 5.50% | | MORPHO | -1% from 219.03K MORPHO to 217.81K MORPHO | -5% from 6.01M MORPHO to 5.69M MORPHO | +5% from 3.64% to 3.83% | | rETH | -0% from 15.31 rETH to 15.30 rETH | -3% from 791.20 rETH to 768.72 rETH | +3% from 1.93% to 1.99% | | wrsETH | 0% from 0.01 wrsETH to 0.01 wrsETH | 0% from 35.67 wrsETH to 35.67 wrsETH | 0% from 0.04% to 0.04% | ### Notable Trends - WETH supply -23% (6.75K → 5.20K WETH) - WETH borrows -25% (6.00K → 4.48K WETH) - wstETH supply -28% (3.63K → 2.61K wstETH) - AERO supply -28% (17.57M → 12.69M AERO) - cbBTC borrows -56% (38.67 → 16.83 cbBTC) ### Liquidations - **Total liquidations:** 1,182 - **Total Collateral Seized (USD):** $3,098,592.79 - **Total Debt Repaid (USD):** $2,816,902.54 - **Total Liquidation Bonus (USD):** $281,690.25 - **Total Liquidator Bonus (USD):** $197,183.18 - **Total Protocol Bonus (USD):** $84,507.08 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | wstETH | 930.647870 | $2,239,964.20 | $2,036,331.09 | $203,633.11 | $142,543.18 | $61,089.93 | 72 | | AERO | 666,803.486752 | $207,236.86 | $188,397.15 | $18,839.71 | $13,187.80 | $5,651.91 | 97 | | WETH | 94.367173 | $185,423.45 | $168,566.77 | $16,856.68 | $11,799.67 | $5,057.00 | 318 | | cbBTC | 2.340327 | $160,166.22 | $145,605.65 | $14,560.57 | $10,192.40 | $4,368.17 | 135 | | VIRTUAL | 172,896.493456 | $108,431.63 | $98,574.21 | $9,857.42 | $6,900.19 | $2,957.23 | 32 | | weETH | 34.089823 | $72,736.47 | $66,124.06 | $6,612.41 | $4,628.68 | $1,983.72 | 20 | | rETH | 18.800083 | $42,739.39 | $38,853.99 | $3,885.40 | $2,719.78 | $1,165.62 | 13 | | tBTC | 0.330835 | $22,584.78 | $20,531.62 | $2,053.16 | $1,437.21 | $615.95 | 9 | | WELL | 4,249,458.440200 | $21,109.16 | $19,190.14 | $1,919.01 | $1,343.31 | $575.70 | 16 | | USDC | 16,699.962980 | $16,698.29 | $15,180.27 | $1,518.03 | $1,062.62 | $455.41 | 51 | | MORPHO | 7,135.828041 | $9,531.63 | $8,665.12 | $866.51 | $606.56 | $259.95 | 14 | | cbXRP | 4,124.074899 | $6,137.62 | $5,579.65 | $557.97 | $390.58 | $167.39 | 16 | | LBTC | 0.058588 | $4,024.01 | $3,658.19 | $365.82 | $256.07 | $109.75 | 8 | | cbETH | 1,099.189422 | $1,247.38 | $1,133.98 | $113.40 | $79.38 | $34.02 | 362 | | MAMO | 18,686.900000 | $268.65 | $244.23 | $24.42 | $17.10 | $7.33 | 1 | | EURC | 170.830889 | $202.37 | $183.97 | $18.40 | $12.88 | $5.52 | 6 | | DAI | 72.731500 | $72.72 | $66.11 | $6.61 | $4.63 | $1.98 | 2 | | USDbC | 17.972072 | $17.97 | $16.34 | $1.63 | $1.14 | $0.49 | 9 | | USDS | 0.000000 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | 1 | ![image22](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/f/fb5c33d824c40e9d36e7bb57116988b5551b90da.jpeg) ## OP Mainnet | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | cbETH | 0.00 | 0.00 | 0.00% | 0.00% | 99.45% | | USDT0 | 8.00M | 10.00M | 0.58% | 0.55% | 84.64% | | DAI | 4.50M | 4.80M | 0.98% | 1.14% | 81.35% | | USDT | 18.40M | 22.60M | 0.85% | 0.95% | 73.48% | | WETH | 30.00K | 32.00K | 3.12% | 4.43% | 65.34% | | USDC | 34.00M | 36.40M | 0.97% | 1.76% | 51.23% | | rETH | 150.00 | 750.00 | 1.65% | 2.40% | 13.72% | | OP | 650.00K | 5.60M | 9.99% | 16.26% | 7.13% | | VELO | 20.00M | 80.00M | 9.25% | 38.73% | 5.97% | | wstETH | 300.00 | 5.00K | 2.17% | 3.02% | 4.32% | | weETH | 4.00 | 10.00 | 27.03% | 419.11% | 2.58% | | wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.83% | ![image33](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/7/7bcbfc6cb16dd3d82cb7fbe74aac5ab422e27017.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | cbETH | 0% from 0.11 cbETH to 0.11 cbETH | 0% from 0.11 cbETH to 0.11 cbETH | 0% from 99.45% to 99.45% | | USDT0 | +0% from 46.40K USDT0 to 46.45K USDT0 | +1% from 54.77K USDT0 to 55.08K USDT0 | -0% from 84.72% to 84.33% | | DAI | +22% from 36.63K DAI to 44.82K DAI | +26% from 44.77K DAI to 56.36K DAI | -3% from 81.84% to 79.53% | | USDT | -3% from 157.26K USDT to 152.33K USDT | +0% from 213.84K USDT to 213.94K USDT | -3% from 73.54% to 71.20% | | WETH | -2% from 732.27 WETH to 715.84 WETH | +0% from 1.21K WETH to 1.21K WETH | -2% from 60.73% to 59.27% | | USDC | +2% from 323.23K USDC to 330.44K USDC | -1% from 644.98K USDC to 636.51K USDC | +4% from 50.12% to 51.91% | | rETH | 0% from 2.47 rETH to 2.47 rETH | 0% from 17.99 rETH to 17.99 rETH | 0% from 13.72% to 13.72% | | OP | +0% from 67.41K OP to 67.54K OP | -5% from 925.13K OP to 879.85K OP | +5% from 7.29% to 7.68% | | VELO | -0% from 1.85M VELO to 1.85M VELO | +2% from 30.53M VELO to 31.10M VELO | -2% from 6.06% to 5.94% | | wstETH | +0% from 6.50 wstETH to 6.50 wstETH | -10% from 156.15 wstETH to 139.84 wstETH | +12% from 4.16% to 4.65% | | weETH | +0% from 1.08 weETH to 1.08 weETH | -1% from 42.05 weETH to 41.78 weETH | +1% from 2.57% to 2.59% | | wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | 0% from 15.14 wrsETH to 15.14 wrsETH | 0% from 1.83% to 1.83% | ### Notable Trends - wstETH supply -10% (156.15 → 139.84 wstETH) - DAI supply +26% (44.77K → 56.36K DAI) ### Liquidations - **Total liquidations:** 27 - **Total Collateral Seized (USD):** $642.13 - **Total Debt Repaid (USD):** $583.76 - **Total Liquidation Bonus (USD):** $58.38 - **Total Liquidator Bonus (USD):** $40.86 - **Total Protocol Bonus (USD):** $17.51 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | OP | 4,168.224675 | $636.86 | $578.97 | $57.90 | $40.53 | $17.37 | 26 | | WETH | 0.002675 | $5.27 | $4.79 | $0.48 | $0.34 | $0.14 | 1 | ## Moonbeam | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | GLMR | 0.10 | 10112.29M% | 80.10% | | xcDOT | 0.10 | 5.59M% | 48.03% | | FRAX | 0.10 | 151.80K% | 46.54% | | xcUSDC | 0.10 | 9.17M% | 17.42% | | xcUSDT | 0.10 | 12.14M% | 15.04% | | USDC.wh | 0.10 | 8.89M% | 9.37% | | ETH.wh | 0.10 | 843.10% | 3.25% | | BTC.wh | 0.10 | 0.80% | 0.08% | ![image44](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/0/046196c1a36401509e4120e98b577db2621df63d.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | GLMR | +3% from 9.95M GLMR to 10.26M GLMR | +3% from 12.42M GLMR to 12.73M GLMR | +1% from 80.15% to 80.60% | | xcDOT | **-77% from 19.56K xcDOT to 4.49K xcDOT** | -1% from 1.09M xcDOT to 1.08M xcDOT | -1% from 48.70% to 47.98% | | FRAX | -2% from 152.30 FRAX to 148.58 FRAX | +0% from 38.70K FRAX to 38.70K FRAX | -0% from 46.54% to 46.53% | | xcUSDC | 0% from 9.17K xcUSDC to 9.17K xcUSDC | 0% from 52.62K xcUSDC to 52.62K xcUSDC | 0% from 17.42% to 17.42% | | xcUSDT | -0% from 12.14K xcUSDT to 12.13K xcUSDT | +0% from 80.69K xcUSDT to 80.70K xcUSDT | -0% from 15.04% to 15.03% | | USDC.wh | -0% from 8.89K USDC.wh to 8.86K USDC.wh | +0% from 94.92K USDC.wh to 94.93K USDC.wh | -0% from 9.37% to 9.33% | | ETH.wh | 0% from 0.84 ETH.wh to 0.84 ETH.wh | 0% from 25.96 ETH.wh to 25.96 ETH.wh | 0% from 3.25% to 3.25% | | BTC.wh | 0% from 0.00 BTC.wh to 0.00 BTC.wh | 0% from 1.04 BTC.wh to 1.04 BTC.wh | +0% from 0.08% to 0.08% | ### Notable Trends - xcDOT borrows -77% (19.56K → 4.49K xcDOT) ### Liquidations - **Total liquidations:** 13 - **Total Collateral Seized (USD):** $50.04 - **Total Debt Repaid (USD):** $45.49 - **Total Liquidation Bonus (USD):** $4.55 - **Total Liquidator Bonus (USD):** $3.18 - **Total Protocol Bonus (USD):** $1.36 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | GLMR | 3,636.799316 | $47.67 | $43.34 | $4.33 | $3.03 | $1.30 | 11 | | xcDOT | 1.825641 | $2.37 | $2.15 | $0.22 | $0.15 | $0.06 | 2 | ---
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [February 26, 2026, 4:20pm UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/55 "2026-02-26T16:20:11Z")
# Weekly Update (2/20/26 - 2/26/26) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, and Moonbeam. Data from 2/20/26 to 2/26/26. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | cbETH | 0.00 | 4.00K | 0.00% | 20.05% | 93.79% | | WETH | 64.00K | 96.00K | 6.23% | 4.73% | 87.94% | | USDS | 690.00K | 750.00K | 1.22% | 1.31% | 85.71% | | USDC | 184.00M | 200.00M | 6.85% | 9.92% | 64.35% | | VIRTUAL | 10.00K | 4.50M | 20.19K% | 73.71% | 60.88% | | EURC | 21.00M | 21.90M | 2.87% | 5.06% | 54.37% | | cbXRP | 1.60M | 5.00M | 98.85% | 59.75% | 52.95% | | DAI | 300.00K | 400.00K | 3.91% | 5.67% | 51.65% | | MAMO | 3.00M | 20.00M | 18.87% | 14.30% | 20.96% | | AERO | 25.00M | 70.00M | 9.29% | 18.46% | 17.96% | | WELL | 34.00M | 250.00M | 60.11% | 51.64% | 15.83% | | cbBTC | 640.00 | 1.50K | 2.88% | 11.01% | 11.19% | | USDbC | 1.00 | 1.00 | 91.61K% | 841.31K% | 10.89% | | tBTC | 5.00 | 50.00 | 3.74% | 4.61% | 8.63% | | wstETH | 1.20K | 14.40K | 11.92% | 16.32% | 6.11% | | LBTC | 10.00 | 95.00 | 23.43% | 42.92% | 5.74% | | weETH | 200.00 | 5.40K | 1.51% | 1.00% | 5.60% | | MORPHO | 100.00K | 6.00M | 217.77% | 94.83% | 3.83% | | rETH | 200.00 | 2.60K | 7.63% | 29.56% | 1.99% | | wrsETH | 0.00 | 1.00 | 0.00% | 3.56K% | 0.04% | ![image1](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/e/e08a8fc9b34977e8887e9546c287a51c9286143d.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | cbETH | +4% from 715.24 cbETH to 744.51 cbETH | **+91% from 715.24 cbETH to 1.37K cbETH** | **-46% from 100.00% to 54.45%** | | WETH | -11% from 4.34K WETH to 3.85K WETH | -5% from 4.52K WETH to 4.30K WETH | -7% from 95.85% to 89.40% | | USDS | -1% from 8.46K USDS to 8.37K USDS | +15% from 8.64K USDS to 9.91K USDS | -14% from 97.99% to 84.48% | | USDC | -2% from 12.73M USDC to 12.51M USDC | **+45% from 13.56M USDC to 19.68M USDC** | -32% from 93.84% to 63.55% | | VIRTUAL | +2% from 2.00M VIRTUAL to 2.04M VIRTUAL | +3% from 3.28M VIRTUAL to 3.37M VIRTUAL | -1% from 61.13% to 60.48% | | EURC | -4% from 616.35K EURC to 588.63K EURC | -2% from 1.12M EURC to 1.09M EURC | -2% from 55.20% to 53.90% | | cbXRP | +1% from 1.57M cbXRP to 1.58M cbXRP | -0% from 3.03M cbXRP to 3.02M cbXRP | +1% from 51.99% to 52.41% | | DAI | +8% from 11.00K DAI to 11.92K DAI | +0% from 22.68K DAI to 22.69K DAI | +8% from 48.48% to 52.54% | | MAMO | -9% from 582.71K MAMO to 531.23K MAMO | -26% from 2.74M MAMO to 2.02M MAMO | +24% from 21.30% to 26.35% | | AERO | +18% from 2.24M AERO to 2.64M AERO | +8% from 12.69M AERO to 13.75M AERO | +9% from 17.65% to 19.20% | | WELL | -4% from 20.98M WELL to 20.22M WELL | -0% from 127.39M WELL to 126.85M WELL | -3% from 16.47% to 15.94% | | cbBTC | +29% from 16.54 cbBTC to 21.39 cbBTC | -10% from 177.08 cbBTC to 158.65 cbBTC | **+44% from 9.34% to 13.48%** | | USDbC | +0% from 916.06 USDbC to 916.13 USDbC | +0% from 8.41K USDbC to 8.41K USDbC | +0% from 10.89% to 10.89% | | tBTC | **+86% from 0.14 tBTC to 0.26 tBTC** | -39% from 2.54 tBTC to 1.56 tBTC | **+205% from 5.56% to 16.95%** | | wstETH | -1% from 143.54 wstETH to 142.77 wstETH | -17% from 2.61K wstETH to 2.15K wstETH | +21% from 5.50% to 6.63% | | LBTC | **-69% from 4.43 LBTC to 1.37 LBTC** | -4% from 41.63 LBTC to 39.89 LBTC | **-68% from 10.64% to 3.44%** | | weETH | **-96% from 11.75 weETH to 0.48 weETH** | -0% from 53.91 weETH to 53.90 weETH | **-96% from 21.79% to 0.89%** | | MORPHO | -0% from 217.81K MORPHO to 217.70K MORPHO | +0% from 5.69M MORPHO to 5.69M MORPHO | -0% from 3.83% to 3.82% | | rETH | -5% from 15.29 rETH to 14.59 rETH | -0% from 768.70 rETH to 768.40 rETH | -5% from 1.99% to 1.90% | | wrsETH | 0% from 0.01 wrsETH to 0.01 wrsETH | -0% from 35.67 wrsETH to 35.63 wrsETH | +0% from 0.04% to 0.04% | ### Notable Trends - USDC supply +45% (13.56M → 19.68M USDC) - cbBTC supply -10% (177.08 → 158.65 cbBTC) - wstETH supply -17% (2.61K → 2.15K wstETH) - cbETH supply +91% (715.24 → 1.37K cbETH) ### Liquidations - **Total liquidations:** 252 - **Total Collateral Seized (USD):** $15,525.66 - **Total Debt Repaid (USD):** $14,114.23 - **Total Liquidation Bonus (USD):** $1,411.42 - **Total Liquidator Bonus (USD):** $988.00 - **Total Protocol Bonus (USD):** $423.43 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | USDC | 5,964.398295 | $5,964.17 | $5,421.98 | $542.20 | $379.54 | $162.66 | 40 | | tBTC | 0.062844 | $4,068.19 | $3,698.35 | $369.84 | $258.88 | $110.95 | 2 | | WETH | 1.673922 | $3,138.68 | $2,853.35 | $285.33 | $199.73 | $85.60 | 117 | | rETH | 0.339076 | $732.85 | $666.22 | $66.62 | $46.64 | $19.99 | 3 | | cbBTC | 0.006681 | $439.87 | $399.88 | $39.99 | $27.99 | $12.00 | 28 | | cbETH | 0.187883 | $416.87 | $378.97 | $37.90 | $26.53 | $11.37 | 37 | | VIRTUAL | 459.429520 | $297.09 | $270.08 | $27.01 | $18.91 | $8.10 | 3 | | MORPHO | 113.032340 | $176.89 | $160.81 | $16.08 | $11.26 | $4.82 | 7 | | USDS | 169.368300 | $169.29 | $153.90 | $15.39 | $10.77 | $4.62 | 2 | | wstETH | 0.050628 | $116.02 | $105.47 | $10.55 | $7.38 | $3.16 | 7 | | AERO | 9.619578 | $2.93 | $2.66 | $0.27 | $0.19 | $0.08 | 3 | | EURC | 2.101580 | $2.47 | $2.25 | $0.22 | $0.16 | $0.07 | 1 | | DAI | 0.335421 | $0.34 | $0.30 | $0.03 | $0.02 | $0.01 | 2 | ### Bad Debt & Reserves | Market | Bad Debt (tokens) | Bad Debt (USD) | Current Reserves (tokens) | Current Reserves (USD) | | --- | --- | --- | --- | --- | | cbXRP | 1258194.656 | $ 1,810,984.24 | 516074.8734 | $ 742,631.74 | | cbETH | 710.6875396 | $ 1,563,512.59 | 55.7165 | $ 128,589.34 | | VIRTUAL | 2022298.203 | $ 1,404,666.09 | 902500.6887 | $ 625,432.98 | | WETH | 241.4114638 | $ 497,457.27 | 62.3235 | $ 128,092.43 | | USDC | 309420.957 | $ 309,433.33 | 124885.0483 | $ 124,885.05 | | MORPHO | 119384.8945 | $ 220,312.88 | 14595.4747 | $ 26,972.44 | | wstETH | 81.92532703 | $ 207,188.11 | 35.5849 | $ 89,754.80 | | EURC | 166110.8973 | $ 196,209.61 | 24259.8621 | $ 28,650.90 | | AERO | 466503.4711 | $ 171,475.78 | 284747.256 | $ 107,634.46 | | cbBTC | 0.3119937145 | $ 21,137.46 | 1.7636 | $ 119,940.15 | | DAI | 1521.127681 | $ 1,521.13 | 1891.2507 | $ 1,891.25 | | USDS | 1189.791112 | $ 1,189.33 | 149.0646 | $ 149.06 | | tBTC | 0.01208351 | $ 822.51 | 0.0877 | $ 5,969.58 | | WELL | 23386.77605 | $ 104.38 | 2796563.607 | $ 11,186.25 | | weETH | 0.00331728 | $ 7.44 | 7.0507 | $ 15,763.36 | | rETH | 0.0009350133 | $ 2.23 | 4.1834 | $ 9,959.38 | | LBTC | 0.0000154913 | $ 1.05 | 0.2114 | $ 14,421.60 | | wrsETH | 0.0004679528 | $ 1.03 | 1.1744 | $ 2,572.57 | | USDbC | 0.0335497602 | $ 0.03 | 2.2424 | $ 2.24 | | MAMO | 0 | $ 0 | 16918.3366 | $ 236.86 | | | | | | | | Total: | | $ 6,406,026.49 | | $ 2,184,736.43 | A spreadsheet containing all user positions with bad debt can be viewed [here](https://docs.google.com/spreadsheets/d/1QDul4H1RMFxhwbWfIQgifEQRdDf_SqCk1kJEtEF4bW0/edit?usp=sharing). ## OP Mainnet | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | cbETH | 0.00 | 0.00 | 0.00% | 0.00% | 99.45% | | DAI | 4.50M | 4.80M | 1.25% | 1.41% | 83.15% | | USDT0 | 8.00M | 10.00M | 0.56% | 0.54% | 82.84% | | WETH | 30.00K | 32.00K | 2.88% | 4.20% | 63.68% | | USDT | 18.40M | 22.60M | 0.47% | 0.65% | 57.32% | | USDC | 34.00M | 36.40M | 0.96% | 1.72% | 51.88% | | rETH | 150.00 | 750.00 | 1.65% | 2.40% | 13.72% | | OP | 650.00K | 5.60M | 12.89% | 15.00% | 9.96% | | WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 9.44% | | VELO | 20.00M | 80.00M | 9.18% | 37.98% | 6.04% | | wstETH | 300.00 | 5.00K | 2.17% | 2.79% | 4.66% | | weETH | 4.00 | 10.00 | 27.03% | 417.84% | 2.59% | | wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.83% | ![image2](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/d/dc3ad10a820bd40a8ff67cf224be0c29f3e9397d.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | cbETH | 0% from 0.11 cbETH to 0.11 cbETH | 0% from 0.11 cbETH to 0.11 cbETH | 0% from 99.45% to 99.45% | | DAI | **+50% from 44.82K DAI to 67.37K DAI** | +39% from 56.36K DAI to 78.32K DAI | +8% from 79.53% to 86.01% | | USDT0 | -9% from 46.45K USDT0 to 42.06K USDT0 | -4% from 55.08K USDT0 to 52.66K USDT0 | -5% from 84.32% to 79.88% | | WETH | +1% from 715.84 WETH to 720.48 WETH | -3% from 1.21K WETH to 1.17K WETH | +4% from 59.27% to 61.40% | | USDT | **-56% from 152.32K USDT to 67.00K USDT** | **-43% from 213.94K USDT to 122.49K USDT** | -23% from 71.20% to 54.70% | | USDC | -2% from 330.44K USDC to 323.20K USDC | +4% from 636.51K USDC to 660.61K USDC | -6% from 51.91% to 48.92% | | rETH | +0% from 2.47 rETH to 2.47 rETH | +0% from 17.99 rETH to 18.00 rETH | -0% from 13.72% to 13.71% | | OP | +13% from 67.54K OP to 76.34K OP | -8% from 879.74K OP to 813.65K OP | +22% from 7.68% to 9.38% | | WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.01 WBTC to 0.01 WBTC | 0% from 9.44% to 9.44% | | VELO | -6% from 1.85M VELO to 1.74M VELO | -5% from 31.10M VELO to 29.64M VELO | -1% from 5.95% to 5.88% | | wstETH | +0% from 6.50 wstETH to 6.50 wstETH | -4% from 139.84 wstETH to 134.64 wstETH | +4% from 4.65% to 4.83% | | weETH | 0% from 1.08 weETH to 1.08 weETH | 0% from 41.78 weETH to 41.78 weETH | 0% from 2.59% to 2.59% | | wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | -0% from 15.14 wrsETH to 15.11 wrsETH | +0% from 1.83% to 1.83% | ### Notable Trends - USDT supply -43% (213.94K → 122.49K USDT) - USDT borrows -56% (152.32K → 67.00K USDT) - DAI borrows +50% (44.82K → 67.37K DAI) - DAI supply +39% (56.36K → 78.32K DAI) ### Liquidations - **Total liquidations:** 29 - **Total Collateral Seized (USD):** $801.41 - **Total Debt Repaid (USD):** $728.55 - **Total Liquidation Bonus (USD):** $72.86 - **Total Liquidator Bonus (USD):** $51.00 - **Total Protocol Bonus (USD):** $21.86 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | OP | 6,415.613949 | $798.65 | $726.05 | $72.60 | $50.82 | $21.78 | 25 | | WETH | 0.001189 | $2.22 | $2.02 | $0.20 | $0.14 | $0.06 | 1 | | VELO | 26.055400 | $0.35 | $0.32 | $0.03 | $0.02 | $0.01 | 1 | | USDC | 0.180014 | $0.18 | $0.16 | $0.02 | $0.01 | $0.00 | 2 | ## Moonbeam | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | GLMR | 0.10 | 10409.14M% | 80.11% | | xcDOT | 0.10 | 4.49M% | 47.98% | | FRAX | 0.10 | 145.37K% | 46.52% | | xcUSDC | 0.10 | 9.16M% | 17.41% | | xcUSDT | 0.10 | 12.14M% | 15.04% | | USDC.wh | 0.10 | 8.71M% | 9.18% | | ETH.wh | 0.10 | 843.10% | 3.25% | | BTC.wh | 0.10 | 0.80% | 0.08% | ![image3](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/b/b98b9d909826f5e179302fc6a17e5ca958dfa50d.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | GLMR | +3% from 10.27M GLMR to 10.56M GLMR | +5% from 12.73M GLMR to 13.38M GLMR | -2% from 80.62% to 78.89% | | xcDOT | +0% from 4.49K xcDOT to 4.50K xcDOT | -0% from 1.08M xcDOT to 1.08M xcDOT | +0% from 47.98% to 48.00% | | FRAX | -3% from 147.79 FRAX to 143.66 FRAX | +0% from 38.70K FRAX to 38.70K FRAX | -0% from 46.53% to 46.52% | | xcUSDC | -1% from 9.17K xcUSDC to 9.12K xcUSDC | -0% from 52.62K xcUSDC to 52.61K xcUSDC | -0% from 17.42% to 17.33% | | xcUSDT | +0% from 12.13K xcUSDT to 12.14K xcUSDT | -0% from 80.70K xcUSDT to 80.68K xcUSDT | +0% from 15.03% to 15.04% | | USDC.wh | -3% from 8.86K USDC.wh to 8.58K USDC.wh | +0% from 94.93K USDC.wh to 94.94K USDC.wh | -3% from 9.33% to 9.03% | | ETH.wh | 0% from 0.84 ETH.wh to 0.84 ETH.wh | 0% from 25.96 ETH.wh to 25.96 ETH.wh | 0% from 3.25% to 3.25% | | BTC.wh | 0% from 0.00 BTC.wh to 0.00 BTC.wh | 0% from 1.04 BTC.wh to 1.04 BTC.wh | -6% from 0.08% to 0.07% | ### Liquidations - **Total liquidations:** 41 - **Total Collateral Seized (USD):** $329.75 - **Total Debt Repaid (USD):** $299.77 - **Total Liquidation Bonus (USD):** $29.98 - **Total Liquidator Bonus (USD):** $20.98 - **Total Protocol Bonus (USD):** $8.99 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | GLMR | 18,109.869007 | $223.79 | $203.45 | $20.34 | $14.24 | $6.10 | 35 | | xcDOT | 58.312900 | $72.72 | $66.11 | $6.61 | $4.63 | $1.98 | 5 | | xcUSDC | 33.233400 | $33.24 | $30.21 | $3.02 | $2.12 | $0.91 | 1 | ---
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [March 6, 2026, 2:26am UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/56 "2026-03-06T02:26:58Z")
# Weekly Update (2/27/26 - 3/5/26) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, and Moonbeam. Data from 2/27/26 to 3/5/26. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). We also put out an app where users can track their remediation status for the cbETH incident [here](https://cbeth-remediation.vercel.app/). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | WETH | 64.00K | 96.00K | 6.07% | 4.65% | 87.17% | | USDS | 690.00K | 750.00K | 1.21% | 1.31% | 85.26% | | USDC | 184.00M | 200.00M | 6.77% | 9.52% | 65.66% | | VIRTUAL | 10.00K | 4.50M | 20.51K% | 75.93% | 60.02% | | EURC | 21.00M | 21.90M | 2.81% | 4.87% | 55.34% | | cbXRP | 1.60M | 5.00M | 99.37% | 60.85% | 52.26% | | DAI | 300.00K | 400.00K | 3.92% | 5.67% | 51.80% | | cbETH | 0.00 | 4.00K | 0.00% | 42.83% | 43.98% | | MAMO | 3.00M | 20.00M | 23.03% | 13.05% | 28.35% | | AERO | 25.00M | 70.00M | 11.26% | 20.07% | 20.04% | | WELL | 34.00M | 250.00M | 71.99% | 51.19% | 19.12% | | cbBTC | 640.00 | 1.50K | 3.52% | 10.50% | 14.32% | | tBTC | 5.00 | 50.00 | 3.64% | 2.93% | 12.37% | | wstETH | 1.20K | 14.40K | 19.72% | 13.61% | 12.17% | | USDbC | 1.00 | 1.00 | 91.62K% | 839.27K% | 10.92% | | MORPHO | 100.00K | 6.00M | 217.71% | 94.65% | 3.83% | | LBTC | 10.00 | 95.00 | 13.80% | 42.00% | 3.46% | | rETH | 200.00 | 2.60K | 7.64% | 29.56% | 1.99% | | weETH | 200.00 | 5.40K | 0.24% | 1.00% | 0.88% | | wrsETH | 0.00 | 1.00 | 0.00% | 3.56K% | 0.04% | ![image1](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/d/def080977bb490307d1fab6215bdd06863111c9e.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | WETH | -0% from 3.85K WETH to 3.84K WETH | -1% from 4.34K WETH to 4.32K WETH | +0% from 88.62% to 88.90% | | USDS | -0% from 8.37K USDS to 8.36K USDS | -6% from 9.91K USDS to 9.32K USDS | +6% from 84.48% to 89.70% | | USDC | -1% from 12.51M USDC to 12.44M USDC | +0% from 19.68M USDC to 19.77M USDC | -1% from 63.55% to 62.91% | | VIRTUAL | +1% from 2.04M VIRTUAL to 2.06M VIRTUAL | +4% from 3.37M VIRTUAL to 3.50M VIRTUAL | -2% from 60.48% to 59.05% | | EURC | +0% from 588.64K EURC to 590.82K EURC | -4% from 1.09M EURC to 1.05M EURC | +4% from 53.90% to 56.09% | | cbXRP | +1% from 1.58M cbXRP to 1.60M cbXRP | +2% from 3.03M cbXRP to 3.09M cbXRP | -1% from 52.28% to 51.65% | | DAI | +0% from 11.92K DAI to 11.93K DAI | -0% from 22.69K DAI to 22.69K DAI | +0% from 52.54% to 52.57% | | cbETH | +1% from 744.70 cbETH to 749.27 cbETH | **+40% from 1.34K cbETH to 1.88K cbETH** | -28% from 55.58% to 39.94% | | MAMO | +26% from 531.23K MAMO to 668.82K MAMO | -2% from 2.02M MAMO to 1.98M MAMO | +28% from 26.35% to 33.71% | | AERO | +13% from 2.64M AERO to 3.00M AERO | +10% from 13.75M AERO to 15.16M AERO | +3% from 19.22% to 19.76% | | WELL | **+57% from 20.22M WELL to 31.71M WELL** | +0% from 126.74M WELL to 127.10M WELL | **+56% from 15.95% to 24.95%** | | cbBTC | +11% from 21.27 cbBTC to 23.52 cbBTC | -1% from 158.66 cbBTC to 156.70 cbBTC | +12% from 13.40% to 15.01% | | tBTC | -30% from 0.26 tBTC to 0.18 tBTC | -7% from 1.56 tBTC to 1.45 tBTC | -25% from 16.99% to 12.70% | | wstETH | **+78% from 142.77 wstETH to 254.17 wstETH** | -15% from 2.15K wstETH to 1.82K wstETH | **+111% from 6.63% to 13.96%** | | USDbC | +0% from 916.13 USDbC to 916.23 USDbC | -0% from 8.41K USDbC to 8.38K USDbC | +0% from 10.89% to 10.93% | | MORPHO | +0% from 217.70K MORPHO to 217.73K MORPHO | -0% from 5.69M MORPHO to 5.68M MORPHO | +0% from 3.83% to 3.83% | | LBTC | +32% from 1.37 LBTC to 1.81 LBTC | -0% from 39.92 LBTC to 39.87 LBTC | +32% from 3.44% to 4.54% | | rETH | -0% from 14.59 rETH to 14.59 rETH | +0% from 768.40 rETH to 769.00 rETH | -0% from 1.90% to 1.90% | | weETH | -2% from 0.48 weETH to 0.47 weETH | -0% from 53.90 weETH to 53.90 weETH | -2% from 0.89% to 0.87% | | wrsETH | 0% from 0.01 wrsETH to 0.01 wrsETH | -0% from 35.63 wrsETH to 35.63 wrsETH | +0% from 0.04% to 0.04% | ### Notable Trends - cbETH supply +40% (1.34K → 1.88K cbETH) - wstETH supply -15% (2.15K → 1.82K wstETH) - AERO supply +10% (13.75M → 15.16M AERO) - wstETH borrows +78% (142.77 → 254.17 wstETH) - cbBTC borrows +11% (21.27 → 23.52 cbBTC) ### Liquidations - **Total liquidations:** 171 - **Total Collateral Seized (USD):** $34,801.81 - **Total Debt Repaid (USD):** $31,638.01 - **Total Liquidation Bonus (USD):** $3,163.80 - **Total Liquidator Bonus (USD):** $2,214.66 - **Total Protocol Bonus (USD):** $949.14 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | cbBTC | 0.215505 | $15,267.24 | $13,879.31 | $1,387.93 | $971.55 | $416.38 | 5 | | USDC | 10,674.080741 | $10,673.82 | $9,703.47 | $970.35 | $679.24 | $291.10 | 39 | | AERO | 23,071.930504 | $7,761.32 | $7,055.75 | $705.57 | $493.90 | $211.67 | 13 | | VIRTUAL | 890.992029 | $579.70 | $527.00 | $52.70 | $36.89 | $15.81 | 5 | | WETH | 0.166652 | $327.08 | $297.34 | $29.73 | $20.81 | $8.92 | 93 | | cbXRP | 119.175000 | $160.59 | $145.99 | $14.60 | $10.22 | $4.38 | 1 | | cbETH | 0.009734 | $22.12 | $20.11 | $2.01 | $1.41 | $0.60 | 4 | | wstETH | 0.003424 | $8.56 | $7.78 | $0.78 | $0.54 | $0.23 | 3 | | MORPHO | 0.478161 | $0.83 | $0.76 | $0.08 | $0.05 | $0.02 | 1 | | WELL | 127.370610 | $0.55 | $0.50 | $0.05 | $0.04 | $0.02 | 7 | ### Bad Debt & Reserves | **Market** | **Bad Debt ($)** | **Reserves ($)** | **Bad Debt (tokens)** | **Reserves (tokens)** | | --- | --- | --- | --- | --- | | cbXRP | $1,777,279.67 | $729,739.43 | 1263961.156 | 518649.204 | | cbETH | $1,677,425.04 | $132,777.84 | 716.403261 | 56.6382 | | VIRTUAL | $1,490,417.40 | $660,520.02 | 2053063.53 | 913582.3293 | | WETH | $503,376.11 | $132,239.56 | 241.5938109 | 63.3905 | | USDC | $309,034.92 | $130,693.54 | 309047.2768 | 130693.5418 | | MORPHO | $233,096.36 | $28,693.47 | 119406.7889 | 14609.71 | | wstETH | $209,610.85 | $91,158.50 | 81.93767034 | 35.5907 | | EURC | $192,311.26 | $28,498.68 | 166235.8758 | 24567.83 | | AERO | $169,512.07 | $103,390.06 | 466916.9028 | 286399.0527 | | cbBTC | $22,196.09 | $125,986.98 | 0.31205075 | 1.7704 | | DAI | $1,521.81 | $1,896.52 | 1521.817938 | 1896.5209 | | USDS | $1,219.39 | $150.41 | 1219.795387 | 150.4077 | | tBTC | $859.30 | $6,203.58 | 0.01208578 | 0.0877 | | WELL | $106.74 | $14,011.85 | 23411.6841 | 2802370.742 | | weETH | $7.53 | $16,020.40 | 0.00331738 | 7.0507 | | rETH | $2.27 | $10,113.40 | 0.00094241 | 4.1836 | | LBTC | $1.12 | $15,091.92 | 0.00001576 | 0.2114 | | wrsETH | $1.04 | $2,612.69 | 0.00047018 | 1.1744 | | MAMO | $0.66 | $262.29 | 44.00559357 | 17486.2281 | | USDbC | $0.03 | $2.34 | 0.033555 | 2.3433 | ## OP Mainnet | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | cbETH | 0.00 | 0.00 | 0.00% | 0.00% | 99.45% | | DAI | 4.50M | 4.80M | 1.74% | 1.86% | 87.96% | | USDT0 | 8.00M | 10.00M | 0.50% | 0.53% | 76.54% | | WETH | 30.00K | 32.00K | 1.97% | 3.22% | 54.49% | | USDT | 18.40M | 22.60M | 0.35% | 0.54% | 52.38% | | USDC | 34.00M | 36.40M | 1.04% | 1.92% | 49.98% | | rETH | 150.00 | 750.00 | 1.65% | 2.40% | 13.71% | | OP | 650.00K | 5.60M | 15.07% | 14.53% | 12.05% | | WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 9.44% | | VELO | 20.00M | 80.00M | 8.71% | 37.38% | 5.82% | | wstETH | 300.00 | 5.00K | 1.90% | 2.45% | 4.64% | | weETH | 4.00 | 10.00 | 27.78% | 417.85% | 2.66% | | wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.83% | ![image2](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/6/6a165bb834acfd87819b254061d59ac49267068d.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | cbETH | 0% from 0.11 cbETH to 0.11 cbETH | 0% from 0.11 cbETH to 0.11 cbETH | 0% from 99.45% to 99.45% | | DAI | +24% from 67.37K DAI to 83.39K DAI | +12% from 78.32K DAI to 87.80K DAI | +10% from 86.01% to 94.98% | | USDT0 | -5% from 42.06K USDT0 to 39.93K USDT0 | +2% from 52.66K USDT0 to 53.56K USDT0 | -7% from 79.88% to 74.56% | | WETH | +0% from 706.89 WETH to 708.49 WETH | -3% from 1.17K WETH to 1.14K WETH | +3% from 60.20% to 61.91% | | USDT | -8% from 67.00K USDT to 61.65K USDT | +0% from 122.49K USDT to 122.53K USDT | -8% from 54.70% to 50.31% | | USDC | -20% from 329.40K USDC to 264.81K USDC | -8% from 659.90K USDC to 610.28K USDC | -13% from 49.92% to 43.39% | | rETH | 0% from 2.47 rETH to 2.47 rETH | 0% from 18.00 rETH to 18.00 rETH | 0% from 13.71% to 13.71% | | OP | **+191% from 78.99K OP to 229.88K OP** | -1% from 815.06K OP to 808.77K OP | **+193% from 9.69% to 28.42%** | | WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.01 WBTC to 0.01 WBTC | 0% from 9.44% to 9.44% | | VELO | -0% from 1.74M VELO to 1.74M VELO | +0% from 29.92M VELO to 30.01M VELO | -0% from 5.82% to 5.80% | | wstETH | -27% from 6.50 wstETH to 4.77 wstETH | +0% from 124.64 wstETH to 124.79 wstETH | -27% from 5.22% to 3.82% | | weETH | +19% from 1.08 weETH to 1.29 weETH | +0% from 41.78 weETH to 41.78 weETH | +19% from 2.59% to 3.08% | | wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | -0% from 15.11 wrsETH to 15.09 wrsETH | +0% from 1.83% to 1.83% | ### Notable Trends - USDC borrows -20% (329.40K → 264.81K USDC) - USDC supply -8% (659.90K → 610.28K USDC) - OP borrows +191% (78.99K → 229.88K OP) ### Liquidations - **Total liquidations:** 8 - **Total Collateral Seized (USD):** $108.73 - **Total Debt Repaid (USD):** $98.85 - **Total Liquidation Bonus (USD):** $9.88 - **Total Liquidator Bonus (USD):** $6.92 - **Total Protocol Bonus (USD):** $2.97 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | OP | 961.029150 | $108.73 | $98.85 | $9.88 | $6.92 | $2.97 | 8 | ### Reserves & Bad Debt | **Market** | **Bad Debt ($)** | **Reserves ($)** | **Bad Debt (tokens)** | **Reserves (tokens)** | | --- | --- | --- | --- | --- | | rETH | $5,572.00 | $656.64 | 2.31502166 | 0.2716 | | wstETH | $3,564.00 | $5,447.88 | 1.39683539 | 2.1261 | | cbETH | $252.00 | $1.88 | 0.10794091 | 0.0008 | | VELO | $25.00 | $8,125.18 | 1447.990766 | 477951.6762 | ## Moonbeam | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | GLMR | 0.10 | 10709.07M% | 78.86% | | xcDOT | 0.10 | 4.50M% | 48.03% | | FRAX | 0.10 | 143.65K% | 46.52% | | xcUSDC | 0.10 | 9.12M% | 17.39% | | xcUSDT | 0.10 | 12.14M% | 15.05% | | USDC.wh | 0.10 | 8.53M% | 9.00% | | ETH.wh | 0.10 | 843.68% | 3.27% | | BTC.wh | 0.10 | 0.79% | 0.07% | ![image3](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/0/052e06b33be69b43646f84a5f34a0bb46b217d7b.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | GLMR | +3% from 10.56M GLMR to 10.86M GLMR | +3% from 13.38M GLMR to 13.72M GLMR | +0% from 78.89% to 79.11% | | xcDOT | +0% from 4.50K xcDOT to 4.50K xcDOT | -0% from 1.08M xcDOT to 1.07M xcDOT | +0% from 48.00% to 48.21% | | FRAX | -0% from 143.66 FRAX to 143.63 FRAX | +0% from 38.70K FRAX to 38.70K FRAX | -0% from 46.52% to 46.52% | | xcUSDC | +0% from 9.12K xcUSDC to 9.12K xcUSDC | -2% from 52.61K xcUSDC to 51.73K xcUSDC | +2% from 17.33% to 17.64% | | xcUSDT | +0% from 12.14K xcUSDT to 12.14K xcUSDT | -0% from 80.68K xcUSDT to 80.66K xcUSDT | +0% from 15.04% to 15.06% | | USDC.wh | -2% from 8.58K USDC.wh to 8.41K USDC.wh | -0% from 94.94K USDC.wh to 94.84K USDC.wh | -2% from 9.03% to 8.87% | | ETH.wh | +0% from 0.84 ETH.wh to 0.84 ETH.wh | -2% from 25.96 ETH.wh to 25.46 ETH.wh | +2% from 3.25% to 3.32% | | BTC.wh | -25% from 0.00 BTC.wh to 0.00 BTC.wh | 0% from 1.04 BTC.wh to 1.04 BTC.wh | -15% from 0.07% to 0.06% | ### Liquidations - **Total liquidations:** 67 - **Total Collateral Seized (USD):** $197.56 - **Total Debt Repaid (USD):** $179.60 - **Total Liquidation Bonus (USD):** $17.96 - **Total Liquidator Bonus (USD):** $12.57 - **Total Protocol Bonus (USD):** $5.39 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | ETH\_wh | 0.094326 | $185.75 | $168.86 | $16.89 | $11.82 | $5.07 | 28 | | GLMR | 952.651184 | $11.61 | $10.56 | $1.06 | $0.74 | $0.32 | 38 | | USDC\_wh | 0.198941 | $0.20 | $0.18 | $0.02 | $0.01 | $0.01 | 1 | ### Bad Debt & Reserves | **Market** | **Bad Debt ($)** | **Bad Debt (tokens)** | **Reserves ($)** | **Reserves (tokens)** | | --- | --- | --- | --- | --- | | GLMR | $132,094.00 | 10768533.29 | $41,758.87 | 3479905.838 | ---
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [March 13, 2026, 2:14am UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/57 "2026-03-13T02:14:03Z")
# Weekly Update (3/6/26 - 3/12/26) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, and Moonbeam. Data from 3/6/26 to 3/12/26. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | USDS | 690.00K | 750.00K | 1.21% | 1.27% | 87.63% | | WETH | 64.00K | 96.00K | 5.89% | 4.53% | 86.83% | | USDC | 184.00M | 200.00M | 6.62% | 9.85% | 61.89% | | EURC | 21.00M | 21.90M | 2.81% | 4.57% | 59.00% | | VIRTUAL | 10.00K | 4.50M | 20.78K% | 78.43% | 58.88% | | DAI | 300.00K | 400.00K | 4.15% | 5.67% | 54.79% | | cbXRP | 1.60M | 5.00M | 99.47% | 62.78% | 50.71% | | cbETH | 0.00 | 4.00K | 0.00% | 45.73% | 40.82% | | MAMO | 3.00M | 20.00M | 16.68% | 9.93% | 25.19% | | WELL | 34.00M | 250.00M | 90.54% | 50.80% | 24.24% | | AERO | 7.50M | 70.00M | 39.00% | 22.25% | 18.79% | | cbBTC | 90.00 | 1.50K | 24.91% | 9.32% | 16.15% | | tBTC | 5.00 | 50.00 | 3.92% | 2.95% | 13.30% | | wstETH | 500.00 | 14.40K | 43.31% | 11.66% | 12.74% | | USDbC | 1.00 | 1.00 | 91.61K% | 837.72K% | 10.94% | | LBTC | 10.00 | 95.00 | 32.25% | 38.58% | 8.83% | | MORPHO | 100.00K | 6.00M | 217.08% | 94.59% | 3.83% | | rETH | 200.00 | 2.60K | 7.29% | 29.58% | 1.90% | | weETH | 200.00 | 5.40K | 0.23% | 1.00% | 0.87% | | wrsETH | 0.00 | 1.00 | 0.00% | 3.56K% | 0.04% | ![image11](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/2/277a52404ae156cfa9994c7cb571d139485ce193.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | USDS | +0% from 8.36K USDS to 8.40K USDS | +0% from 9.33K USDS to 9.37K USDS | -0% from 89.65% to 89.60% | | WETH | -3% from 3.84K WETH to 3.71K WETH | -11% from 4.76K WETH to 4.26K WETH | +8% from 80.56% to 87.20% | | USDC | -3% from 12.44M USDC to 12.08M USDC | -1% from 19.77M USDC to 19.58M USDC | -2% from 62.92% to 61.69% | | EURC | +0% from 590.82K EURC to 590.87K EURC | -2% from 1.05M EURC to 1.03M EURC | +2% from 56.09% to 57.24% | | VIRTUAL | +1% from 2.07M VIRTUAL to 2.09M VIRTUAL | +3% from 3.50M VIRTUAL to 3.62M VIRTUAL | -2% from 59.01% to 57.80% | | DAI | +4% from 11.95K DAI to 12.46K DAI | +0% from 22.69K DAI to 22.70K DAI | +4% from 52.66% to 54.90% | | cbXRP | +0% from 1.59M cbXRP to 1.59M cbXRP | +3% from 3.09M cbXRP to 3.17M cbXRP | -2% from 51.46% to 50.25% | | cbETH | -1% from 749.32 cbETH to 744.99 cbETH | -0% from 1.87K cbETH to 1.87K cbETH | -0% from 39.97% to 39.80% | | MAMO | +10% from 604.14K MAMO to 665.70K MAMO | +1% from 1.98M MAMO to 2.00M MAMO | +10% from 30.44% to 33.36% | | WELL | -3% from 31.71M WELL to 30.68M WELL | -1% from 127.10M WELL to 125.73M WELL | -2% from 24.95% to 24.40% | | AERO | -6% from 3.00M AERO to 2.80M AERO | +3% from 15.17M AERO to 15.59M AERO | -9% from 19.76% to 17.99% | | cbBTC | +10% from 23.53 cbBTC to 25.95 cbBTC | -17% from 156.67 cbBTC to 130.40 cbBTC | +32% from 15.02% to 19.90% | | tBTC | +9% from 0.18 tBTC to 0.20 tBTC | +2% from 1.45 tBTC to 1.48 tBTC | +7% from 12.70% to 13.54% | | wstETH | **-43% from 254.17 wstETH to 144.88 wstETH** | -19% from 1.82K wstETH to 1.48K wstETH | -30% from 13.96% to 9.81% | | USDbC | -0% from 916.23 USDbC to 916.19 USDbC | -2% from 8.38K USDbC to 8.19K USDbC | +2% from 10.93% to 11.19% | | LBTC | **+71% from 1.81 LBTC to 3.09 LBTC** | -14% from 39.87 LBTC to 34.30 LBTC | **+99% from 4.54% to 9.02%** | | MORPHO | -1% from 217.73K MORPHO to 215.76K MORPHO | -0% from 5.68M MORPHO to 5.67M MORPHO | -1% from 3.83% to 3.80% | | rETH | -0% from 14.59 rETH to 14.58 rETH | -0% from 769.00 rETH to 768.11 rETH | +0% from 1.90% to 1.90% | | weETH | 0% from 0.47 weETH to 0.47 weETH | 0% from 53.90 weETH to 53.90 weETH | 0% from 0.87% to 0.87% | | wrsETH | 0% from 0.01 wrsETH to 0.01 wrsETH | 0% from 35.63 wrsETH to 35.63 wrsETH | 0% from 0.04% to 0.04% | ### Notable Trends - cbBTC supply -17% (156.67 → 130.40 cbBTC) - WETH supply -11% (4.76K → 4.26K WETH) - wstETH supply -19% (1.82K → 1.48K wstETH) - wstETH borrows -43% (254.17 → 144.88 wstETH) - LBTC borrows +71% (1.81 → 3.09 LBTC) - cbBTC borrows +10% (23.53 → 25.95 cbBTC) ### Liquidations - **Total liquidations:** 26 - **Total Collateral Seized (USD):** $10,858.03 - **Total Debt Repaid (USD):** $9,870.93 - **Total Liquidation Bonus (USD):** $987.09 - **Total Liquidator Bonus (USD):** $690.97 - **Total Protocol Bonus (USD):** $296.13 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | AERO | 31,557.414010 | $10,424.88 | $9,477.16 | $947.72 | $663.40 | $284.31 | 6 | | cbBTC | 0.005947 | $400.32 | $363.93 | $36.39 | $25.48 | $10.92 | 3 | | WETH | 0.013308 | $26.35 | $23.95 | $2.40 | $1.68 | $0.72 | 13 | | VIRTUAL | 9.114240 | $6.48 | $5.89 | $0.59 | $0.41 | $0.18 | 2 | | cbETH | 0.000000 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | 2 | ### Bad Debt | Market | Bad Debt (USD) | Bad Debt (tokens) | Reserves (USD) | Reserves (tokens) | | --- | --- | --- | --- | --- | | cbXRP | $1,741,766.09 | 1266785.218 | $732,023.56 | 519903.0946 | | cbETH | $1,671,724.13 | 720.1279157 | $136,812.86 | 57.2173 | | VIRTUAL | $1,487,836.11 | 2078207.293 | $684,480.39 | 922480.3051 | | WETH | $499,454.53 | 241.6687088 | $135,009.57 | 63.5187 | | USDC | $309,353.52 | 309339.5375 | $131,857.30 | 131857.2995 | | MORPHO | $236,866.61 | 119425.7343 | $29,304.19 | 14622.851 | | wstETH | $207,743.17 | 81.95002717 | $92,943.39 | 35.5956 | | EURC | $191,630.52 | 166461.8223 | $28,334.19 | 24617.0158 | | AERO | $156,844.44 | 467307.831 | $99,719.56 | 288206.8278 | | cbBTC | $21,925.99 | 0.31211111 | $126,817.99 | 1.771 | | DAI | $1,523.00 | 1522.998328 | $1,906.37 | 1906.3693 | | USDS | $1,216.93 | 1217.4392 | $151.85 | 151.8507 | | tBTC | $850.05 | 0.01208782 | $6,269.84 | 0.0877 | | WELL | $108.37 | 23436.52038 | $14,052.03 | 2810406.224 | | weETH | $7.46 | 0.00331738 | $16,328.46 | 7.0507 | | rETH | $2.25 | 0.00094244 | $10,308.74 | 4.1837 | | LBTC | $1.11 | 0.00001576 | $15,194.44 | 0.2115 | | wrsETH | $1.04 | 0.00047018 | $2,663.75 | 1.1744 | | MAMO | $0.63 | 44.10068875 | $267.51 | 17833.7448 | | USDbC | $0.03 | 0.033558 | $2.43 | 2.4272 | ## Optimism | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | cbETH | 0.00 | 0.00 | 0.00% | 0.00% | 99.45% | | DAI | 4.50M | 4.80M | 1.86% | 1.97% | 88.27% | | USDT0 | 8.00M | 10.00M | 0.50% | 0.54% | 74.61% | | WETH | 30.00K | 32.00K | 2.36% | 3.54% | 62.45% | | USDC | 34.00M | 36.40M | 0.90% | 1.76% | 47.50% | | USDT | 18.40M | 22.60M | 0.29% | 0.54% | 44.45% | | OP | 650.00K | 5.60M | 35.39% | 14.44% | 28.44% | | rETH | 150.00 | 750.00 | 1.65% | 2.40% | 13.72% | | WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 9.44% | | VELO | 20.00M | 80.00M | 8.21% | 38.40% | 5.35% | | wstETH | 300.00 | 5.00K | 1.53% | 2.45% | 3.76% | | weETH | 4.00 | 10.00 | 32.21% | 417.85% | 3.08% | | wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.83% | ![image22](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/3/30f5eb08b568e49f9ab6654fe97bd16c77ce3386.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | cbETH | 0% from 0.11 cbETH to 0.11 cbETH | 0% from 0.11 cbETH to 0.11 cbETH | 0% from 99.45% to 99.45% | | DAI | +0% from 83.44K DAI to 83.54K DAI | +5% from 90.39K DAI to 95.06K DAI | -5% from 92.31% to 87.87% | | USDT0 | +0% from 39.93K USDT0 to 39.96K USDT0 | -0% from 53.56K USDT0 to 53.52K USDT0 | +0% from 74.56% to 74.66% | | WETH | -1% from 709.99 WETH to 702.98 WETH | -2% from 1.14K WETH to 1.12K WETH | +1% from 62.04% to 62.59% | | USDC | +1% from 263.71K USDC to 266.02K USDC | -3% from 610.28K USDC to 593.41K USDC | +4% from 43.21% to 44.83% | | USDT | -22% from 61.65K USDT to 48.28K USDT | -1% from 122.54K USDT to 121.05K USDT | -21% from 50.31% to 39.88% | | OP | +1% from 229.88K OP to 231.89K OP | -0% from 808.77K OP to 808.51K OP | +1% from 28.42% to 28.68% | | rETH | +0% from 2.47 rETH to 2.47 rETH | 0% from 18.00 rETH to 18.00 rETH | +0% from 13.71% to 13.72% | | WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.01 WBTC to 0.01 WBTC | 0% from 9.44% to 9.44% | | VELO | -6% from 1.74M VELO to 1.64M VELO | +4% from 30.01M VELO to 31.22M VELO | -10% from 5.80% to 5.24% | | wstETH | -6% from 4.77 wstETH to 4.46 wstETH | -3% from 124.79 wstETH to 120.66 wstETH | -3% from 3.82% to 3.70% | | weETH | 0% from 1.29 weETH to 1.29 weETH | 0% from 41.78 weETH to 41.78 weETH | 0% from 3.08% to 3.08% | | wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | 0% from 15.09 wrsETH to 15.09 wrsETH | 0% from 1.83% to 1.83% | ### Notable Trends - USDT borrows -22% (61.65K → 48.28K USDT) ### Liquidations - **Total liquidations:** 1 - **Total Collateral Seized (USD):** $43.93 - **Total Debt Repaid (USD):** $39.93 - **Total Liquidation Bonus (USD):** $3.99 - **Total Liquidator Bonus (USD):** $2.80 - **Total Protocol Bonus (USD):** $1.20 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | OP | 364.100000 | $43.93 | $39.93 | $3.99 | $2.80 | $1.20 | 1 | ### Bad Debt | Market | Bad Debt (USD) | Bad Debt (tokens) | Reserves (USD) | Reserves (tokens) | | --- | --- | --- | --- | --- | | rETH | $5,708.00 | 2.31555712 | $669.09 | 0.2717 | | wstETH | $3,649.00 | 1.3968992 | $5,548.19 | 2.1262 | | cbETH | $258.00 | 0.10794091 | $1.91 | 0.0008 | | VELO | $24.00 | 1448.690125 | $8,128.55 | 478149.9695 | ## Moonbeam | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | GLMR | 0.10 | 10873.91M% | 79.15% | | xcDOT | 0.10 | 4.50M% | 48.21% | | FRAX | 0.10 | 143.63K% | 46.52% | | xcUSDC | 0.10 | 9.12M% | 17.64% | | xcUSDT | 0.10 | 12.14M% | 15.07% | | USDC.wh | 0.10 | 8.41M% | 8.86% | | ETH.wh | 0.10 | 844.65% | 3.32% | | BTC.wh | 0.10 | 0.60% | 0.06% | ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | GLMR | +1% from 10.86M GLMR to 10.91M GLMR | +0% from 13.72M GLMR to 13.77M GLMR | +0% from 79.11% to 79.23% | | xcDOT | 0% from 4.50K xcDOT to 4.50K xcDOT | 0% from 1.07M xcDOT to 1.07M xcDOT | 0% from 48.21% to 48.21% | | FRAX | 0% from 143.63 FRAX to 143.63 FRAX | 0% from 38.70K FRAX to 38.70K FRAX | 0% from 46.52% to 46.52% | | xcUSDC | 0% from 9.12K xcUSDC to 9.12K xcUSDC | 0% from 51.73K xcUSDC to 51.73K xcUSDC | 0% from 17.64% to 17.64% | | xcUSDT | +0% from 12.14K xcUSDT to 12.15K xcUSDT | -0% from 80.66K xcUSDT to 80.29K xcUSDT | +0% from 15.06% to 15.13% | | USDC.wh | -0% from 8.41K USDC.wh to 8.39K USDC.wh | +0% from 94.84K USDC.wh to 94.84K USDC.wh | -0% from 8.87% to 8.85% | | ETH.wh | +0% from 0.84 ETH.wh to 0.84 ETH.wh | -0% from 25.46 ETH.wh to 25.45 ETH.wh | +0% from 3.32% to 3.32% | | BTC.wh | 0% from 0.00 BTC.wh to 0.00 BTC.wh | 0% from 1.04 BTC.wh to 1.04 BTC.wh | 0% from 0.06% to 0.06% | ### Liquidations - **Total liquidations:** 6 - **Total Collateral Seized (USD):** $44.25 - **Total Debt Repaid (USD):** $40.23 - **Total Liquidation Bonus (USD):** $4.02 - **Total Liquidator Bonus (USD):** $2.82 - **Total Protocol Bonus (USD):** $1.21 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | ETH.wh | 0.022307 | $44.25 | $40.23 | $4.02 | $2.82 | $1.21 | 6 | ### Bad Debt | Market | Bad Debt (USD) | Bad Debt (tokens) | Reserves (USD) | Reserves (tokens) | | --- | --- | --- | --- | --- | | GLMR | $135,809.00 | 11099957.85 | $42,104.58 | 3508715.351 | ---
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [March 20, 2026, 4:12am UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/58 "2026-03-20T04:12:07Z")
# Weekly Update (3/13/26 - 3/19/26) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, and Moonbeam. Data from 3/13/26 to 3/19/26. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | USDS | 690.00K | 750.00K | 1.22% | 1.27% | 88.12% | | WETH | 64.00K | 96.00K | 5.89% | 4.47% | 87.71% | | USDC | 184.00M | 200.00M | 6.77% | 9.82% | 63.42% | | VIRTUAL | 10.00K | 4.50M | 21.00K% | 82.04% | 56.89% | | DAI | 300.00K | 400.00K | 4.14% | 5.63% | 55.12% | | cbXRP | 1.60M | 5.00M | 94.18% | 63.58% | 47.40% | | cbETH | 0.00 | 4.00K | 0.00% | 42.82% | 43.79% | | EURC | 21.00M | 21.90M | 2.80% | 6.39% | 42.78% | | MAMO | 3.00M | 20.00M | 20.39% | 9.91% | 30.84% | | WELL | 34.00M | 250.00M | 90.10% | 50.34% | 24.34% | | AERO | 7.50M | 70.00M | 37.60% | 22.25% | 18.10% | | cbBTC | 90.00 | 1.50K | 25.41% | 8.63% | 17.67% | | tBTC | 5.00 | 50.00 | 3.93% | 2.98% | 13.19% | | USDbC | 1.00 | 1.00 | 91.52K% | 818.56K% | 11.18% | | wstETH | 500.00 | 14.40K | 28.97% | 10.14% | 9.93% | | LBTC | 10.00 | 95.00 | 36.79% | 57.29% | 6.80% | | MORPHO | 100.00K | 6.00M | 215.66% | 94.57% | 3.80% | | rETH | 200.00 | 2.60K | 7.33% | 29.43% | 1.92% | | weETH | 200.00 | 5.40K | 0.23% | 0.99% | 0.88% | | wrsETH | 0.00 | 1.00 | 0.00% | 3.56K% | 0.04% | ![image1](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/2/2f76367e57e50bb91730e4b9f68a87321ba5ae88.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | USDS | -0% from 8.40K USDS to 8.39K USDS | +4% from 9.37K USDS to 9.76K USDS | -4% from 89.60% to 85.92% | | WETH | -0% from 3.73K WETH to 3.71K WETH | -1% from 4.26K WETH to 4.23K WETH | +0% from 87.51% to 87.73% | | USDC | +5% from 12.09M USDC to 12.68M USDC | -2% from 19.61M USDC to 19.12M USDC | +8% from 61.64% to 66.32% | | VIRTUAL | +1% from 2.09M VIRTUAL to 2.11M VIRTUAL | +3% from 3.62M VIRTUAL to 3.72M VIRTUAL | -2% from 57.80% to 56.64% | | DAI | -0% from 12.46K DAI to 12.43K DAI | -1% from 22.70K DAI to 22.51K DAI | +1% from 54.90% to 55.21% | | cbXRP | -17% from 1.59M cbXRP to 1.33M cbXRP | -0% from 3.17M cbXRP to 3.16M cbXRP | -17% from 50.25% to 41.95% | | cbETH | +0% from 745.04 cbETH to 746.84 cbETH | -15% from 1.89K cbETH to 1.62K cbETH | +17% from 39.39% to 46.23% | | EURC | -9% from 589.38K EURC to 537.28K EURC | **+53% from 1.03M EURC to 1.58M EURC** | **-40% from 57.09% to 34.06%** | | MAMO | -28% from 665.70K MAMO to 479.39K MAMO | -1% from 2.00M MAMO to 1.98M MAMO | -27% from 33.34% to 24.20% | | WELL | -5% from 30.68M WELL to 29.27M WELL | +2% from 125.73M WELL to 128.22M WELL | -6% from 24.40% to 22.83% | | AERO | -1% from 2.80M AERO to 2.78M AERO | -1% from 15.59M AERO to 15.50M AERO | -0% from 17.99% to 17.96% | | cbBTC | -14% from 25.93 cbBTC to 22.30 cbBTC | -2% from 130.39 cbBTC to 128.26 cbBTC | -13% from 19.89% to 17.39% | | tBTC | -2% from 0.20 tBTC to 0.20 tBTC | +2% from 1.48 tBTC to 1.50 tBTC | -4% from 13.52% to 13.05% | | USDbC | -0% from 916.19 USDbC to 913.79 USDbC | -0% from 8.19K USDbC to 8.19K USDbC | -0% from 11.19% to 11.16% | | wstETH | -0% from 144.88 wstETH to 144.85 wstETH | -4% from 1.48K wstETH to 1.41K wstETH | +5% from 9.81% to 10.25% | | LBTC | -14% from 3.09 LBTC to 2.66 LBTC | **+62% from 34.30 LBTC to 55.59 LBTC** | **-47% from 9.02% to 4.78%** | | MORPHO | -0% from 215.76K MORPHO to 215.62K MORPHO | -0% from 5.67M MORPHO to 5.67M MORPHO | -0% from 3.80% to 3.80% | | rETH | +2% from 14.57 rETH to 14.92 rETH | +0% from 765.05 rETH to 765.38 rETH | +2% from 1.91% to 1.95% | | weETH | +3% from 0.47 weETH to 0.48 weETH | -1% from 53.90 weETH to 53.14 weETH | +4% from 0.87% to 0.90% | | wrsETH | 0% from 0.01 wrsETH to 0.01 wrsETH | 0% from 35.63 wrsETH to 35.63 wrsETH | 0% from 0.04% to 0.04% | ### Notable Trends - LBTC supply +62% (34.30 → 55.59 LBTC) - cbETH supply -15% (1.89K → 1.62K cbETH) - EURC supply +53% (1.03M → 1.58M EURC) - cbXRP borrows -17% (1.59M → 1.33M cbXRP) ### Liquidations - **Total liquidations:** 78 - **Total Collateral Seized (USD):** $11,381.59 - **Total Debt Repaid (USD):** $10,346.90 - **Total Liquidation Bonus (USD):** $1,034.69 - **Total Liquidator Bonus (USD):** $724.28 - **Total Protocol Bonus (USD):** $310.41 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | VIRTUAL | 9,108.400431 | $6,716.55 | $6,105.95 | $610.60 | $427.42 | $183.18 | 4 | | AERO | 7,496.355959 | $2,441.00 | $2,219.09 | $221.91 | $155.34 | $66.57 | 14 | | cbETH | 0.683485 | $1,712.78 | $1,557.08 | $155.71 | $109.00 | $46.71 | 6 | | USDC | 335.818002 | $335.81 | $305.28 | $30.53 | $21.37 | $9.16 | 12 | | WETH | 0.043987 | $94.91 | $86.29 | $8.63 | $6.04 | $2.59 | 36 | | WELL | 16,607.830000 | $76.15 | $69.22 | $6.92 | $4.85 | $2.08 | 2 | | MORPHO | 1.613060 | $3.23 | $2.94 | $0.29 | $0.21 | $0.09 | 1 | | cbBTC | 0.000016 | $1.16 | $1.05 | $0.11 | $0.07 | $0.03 | 3 | ### Bad Debt & Reserves | **Market** | **Bad Debt (USD)** | **Bad Debt (tokens)** | **Reserves (USD)** | **Reserves (tokens)** | | --- | --- | --- | --- | --- | | cbXRP | $1,838,841.72 | 1268691.688 | $754,443.53 | 520664.9641 | | cbETH | $1,741,899.63 | 722.1912369 | $139,482.73 | 57.6124 | | VIRTUAL | $1,494,437.73 | 2097074.873 | $668,994.81 | 929159.4602 | | WETH | $518,073.61 | 241.7224427 | $137,225.70 | 63.7863 | | USDC | $309,589.92 | 309586.9939 | $134,229.94 | 134229.9406 | | wstETH | $216,000.00 | 81.96002598 | $94,170.16 | 35.5982 | | MORPHO | $208,605.65 | 119447.6273 | $25,816.83 | 14635.3919 | | EURC | $193,152.11 | 166550.824 | $28,624.75 | 24761.8935 | | AERO | $152,318.87 | 467699.2639 | $94,872.64 | 289245.8444 | | cbBTC | $21,959.04 | 0.3121788 | $125,346.29 | 1.7715 | | DAI | $1,524.01 | 1523.925248 | $1,913.93 | 1913.9287 | | USDS | $1,209.55 | 1210.132672 | $153.51 | 153.5143 | | tBTC | $850.33 | 0.01208977 | $6,200.14 | 0.0877 | | WELL | $107.57 | 23461.75663 | $14,094.45 | 2818890.83 | | weETH | $7.75 | 0.00331757 | $16,539.66 | 7.0507 | | rETH | $2.35 | 0.00094246 | $10,438.10 | 4.1838 | | LBTC | $1.11 | 0.00001576 | $15,015.26 | 0.2115 | | wrsETH | $1.08 | 0.00047018 | $2,697.47 | 1.1744 | | MAMO | $0.63 | 44.2211953 | $256.29 | 18306.6736 | | USDbC | $0.03 | 0.033561 | $2.50 | 2.4952 | ## OP Mainnet | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | cbETH | 0.00 | 0.00 | 0.00% | 0.00% | 99.45% | | DAI | 4.50M | 4.80M | 1.25% | 1.40% | 80.03% | | USDT0 | 8.00M | 10.00M | 0.50% | 0.51% | 78.07% | | WETH | 30.00K | 32.00K | 2.36% | 3.51% | 62.96% | | USDC | 34.00M | 36.40M | 1.08% | 1.95% | 51.67% | | USDT | 18.40M | 22.60M | 0.26% | 0.52% | 40.97% | | OP | 650.00K | 5.60M | 36.04% | 14.43% | 28.99% | | rETH | 150.00 | 750.00 | 1.65% | 2.39% | 13.76% | | WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 9.44% | | VELO | 6.00M | 80.00M | 27.28% | 39.05% | 5.24% | | wstETH | 300.00 | 5.00K | 1.99% | 2.43% | 4.91% | | weETH | 4.00 | 10.00 | 32.21% | 417.85% | 3.08% | | wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.83% | ![image2](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/e/e3ec88e8e043568da567789d2aafc011063903e3.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | cbETH | 0% from 0.11 cbETH to 0.11 cbETH | 0% from 0.11 cbETH to 0.11 cbETH | 0% from 99.45% to 99.45% | | DAI | **-66% from 83.54K DAI to 28.69K DAI** | **-58% from 95.06K DAI to 39.81K DAI** | -18% from 87.87% to 72.06% | | USDT0 | +0% from 39.96K USDT0 to 40.00K USDT0 | -6% from 53.52K USDT0 to 50.17K USDT0 | +7% from 74.66% to 79.72% | | WETH | +1% from 702.98 WETH to 709.70 WETH | +0% from 1.12K WETH to 1.12K WETH | +1% from 62.60% to 63.15% | | USDC | +2% from 265.85K USDC to 272.16K USDC | +4% from 593.42K USDC to 618.25K USDC | -2% from 44.80% to 44.02% | | USDT | +0% from 48.28K USDT to 48.30K USDT | -3% from 121.05K USDT to 117.26K USDT | +3% from 39.88% to 41.19% | | OP | +2% from 231.90K OP to 237.18K OP | -1% from 808.02K OP to 796.68K OP | +4% from 28.70% to 29.77% | | rETH | +0% from 2.47 rETH to 2.47 rETH | -0% from 18.00 rETH to 17.94 rETH | +0% from 13.72% to 13.76% | | WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.01 WBTC to 0.01 WBTC | 0% from 9.44% to 9.44% | | VELO | -0% from 1.64M VELO to 1.64M VELO | +3% from 31.21M VELO to 32.16M VELO | -3% from 5.24% to 5.09% | | wstETH | +0% from 4.46 wstETH to 4.47 wstETH | -1% from 120.65 wstETH to 119.67 wstETH | +1% from 3.70% to 3.73% | | weETH | 0% from 1.29 weETH to 1.29 weETH | 0% from 41.78 weETH to 41.78 weETH | 0% from 3.08% to 3.08% | | wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | 0% from 15.09 wrsETH to 15.09 wrsETH | 0% from 1.83% to 1.83% | ### Notable Trends - DAI supply -58% (95.06K → 39.81K DAI) - DAI borrows -66% (83.54K → 28.69K DAI) - USDC supply +4% (593.42K → 618.25K USDC) - VELO supply +3% (31.21M → 32.16M VELO) ### Liquidations No liquidation events this week. ### Bad Debt & Reserves | **Market** | **Bad Debt (USD)** | **Bad Debt (tokens)** | **Reserves (USD)** | **Reserves (tokens)** | | --- | --- | --- | --- | --- | | rETH | $5,773.00 | 2.31593402 | $678.20 | 0.2717 | | wstETH | $3,692.00 | 1.39690578 | $5,627.07 | 2.1262 | | cbETH | $261.00 | 0.10794091 | $1.94 | 0.0008 | | VELO | $22.00 | 1448.886077 | $7,175.28 | 478351.7789 | ## Moonbeam | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | GLMR | 0.10 | 11324.41M% | 75.47% | | xcDOT | 0.10 | 3.28M% | 48.16% | | FRAX | 0.10 | 143.63K% | 46.52% | | xcUSDC | 0.10 | 9.13M% | 17.64% | | xcUSDT | 0.10 | 12.15M% | 15.16% | | USDC.wh | 0.10 | 8.38M% | 8.86% | | ETH.wh | 0.10 | 845.08% | 3.34% | | BTC.wh | 0.10 | 0.80% | 0.08% | ![image3](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/9/98dfac8e899f928ff57e52889827be963d3ab274.jpeg) ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | GLMR | +3% from 11.18M GLMR to 11.47M GLMR | +8% from 14.20M GLMR to 15.31M GLMR | -5% from 78.72% to 74.92% | | xcDOT | +0% from 3.28K xcDOT to 3.28K xcDOT | -0% from 1.07M xcDOT to 1.07M xcDOT | +0% from 48.16% to 48.17% | | FRAX | 0% from 143.63 FRAX to 143.63 FRAX | 0% from 38.70K FRAX to 38.70K FRAX | 0% from 46.52% to 46.52% | | xcUSDC | 0% from 9.13K xcUSDC to 9.13K xcUSDC | 0% from 51.74K xcUSDC to 51.74K xcUSDC | 0% from 17.64% to 17.64% | | xcUSDT | +0% from 12.15K xcUSDT to 12.16K xcUSDT | -0% from 80.19K xcUSDT to 80.17K xcUSDT | +0% from 15.15% to 15.17% | | USDC.wh | +0% from 8.38K USDC.wh to 8.38K USDC.wh | -1% from 94.84K USDC.wh to 94.34K USDC.wh | +1% from 8.83% to 8.88% | | ETH.wh | +0% from 0.84 ETH.wh to 0.85 ETH.wh | -1% from 25.38 ETH.wh to 25.18 ETH.wh | +1% from 3.33% to 3.36% | | BTC.wh | 0% from 0.00 BTC.wh to 0.00 BTC.wh | 0% from 1.04 BTC.wh to 1.04 BTC.wh | +0% from 0.08% to 0.08% | ### Liquidations No liquidation events this week. ### Bad Debt & Reserves | **Market** | **Bad Debt (USD)** | **Bad Debt (tokens)** | **Reserves (USD)** | **Reserves (tokens)** | | --- | --- | --- | --- | --- | | GLMR | $132,382.00 | 11387964.32 | $45,505.77 | 3792147.607 | ---
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [March 27, 2026, 12:59am UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/59 "2026-03-27T00:59:18Z")
# Weekly Update (3/20/26 - 3/26/26) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, and Moonbeam. Data from 3/20/26 to 3/26/26. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | WETH | 64.00K | 96.00K | 5.82% | 4.41% | 88.01% | | USDS | 690.00K | 750.00K | 1.21% | 1.28% | 87.35% | | USDC | 184.00M | 200.00M | 6.89% | 9.63% | 66.03% | | VIRTUAL | 10.00K | 4.50M | 21.17K% | 83.14% | 56.59% | | DAI | 300.00K | 400.00K | 3.60% | 5.63% | 47.99% | | cbETH | 0.00 | 4.00K | 0.00% | 40.76% | 45.86% | | cbXRP | 1.60M | 5.00M | 82.84% | 63.02% | 42.07% | | EURC | 21.00M | 21.90M | 2.59% | 7.11% | 34.91% | | MAMO | 3.00M | 20.00M | 21.09% | 11.56% | 27.49% | | WELL | 34.00M | 250.00M | 78.19% | 50.13% | 21.20% | | AERO | 7.50M | 70.00M | 40.00% | 22.18% | 19.32% | | tBTC | 5.00 | 50.00 | 3.94% | 2.26% | 18.45% | | cbBTC | 90.00 | 1.50K | 23.62% | 8.61% | 16.46% | | USDbC | 1.00 | 1.00 | 91.38K% | 818.52K% | 11.16% | | wstETH | 500.00 | 14.40K | 29.84% | 9.76% | 10.62% | | LBTC | 10.00 | 95.00 | 29.83% | 58.48% | 5.37% | | MORPHO | 100.00K | 6.00M | 215.64% | 94.50% | 3.80% | | rETH | 200.00 | 2.60K | 7.33% | 29.19% | 1.93% | | weETH | 200.00 | 5.40K | 0.30% | 0.98% | 1.11% | | wrsETH | 0.00 | 1.00 | 0.00% | 3.55K% | 0.04% | ![image1](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/b/b628cd6aeaeca19d7bf653b6fc41c8a8fbaf0ae8.jpeg) ### Bad Debt & Reserves | **Market** | **Bad Debt (USD)** | **Bad Debt (tokens)** | **Reserves (USD)** | **Reserves (tokens)** | | --- | --- | --- | --- | --- | | cbXRP | $1,726,292.72 | 1270308.086958 | $737,963.28 | 521160.5102 | | cbETH | $1,681,219.18 | 723.72821222 | $140,921.37 | 57.8767 | | VIRTUAL | $1,444,154.08 | 2113844.86778591 | $684,617.69 | 933994.1247 | | WETH | $498,774.41 | 241.73744617 | $138,121.45 | 63.8649 | | USDC | $309,740.30 | 309799.164475 | $135,112.29 | 135112.2941 | | wstETH | $208,086.88 | 81.97029387 | $94,729.69 | 35.6005 | | EURC | $192,314.85 | 166522.340716 | $28,698.72 | 24783.0025 | | MORPHO | $187,150.62 | 119467.47893064 | $25,248.29 | 14645.1771 | | AERO | $154,306.17 | 468095.58754415 | $98,445.05 | 290398.3861 | | cbBTC | $21,471.50 | 0.31223867 | $125,360.95 | 1.7718 | | DAI | $1,524.44 | 1524.80417291 | $1,919.55 | 1919.5533 | | USDS | $1,177.26 | 1177.20766774 | $154.32 | 154.3167 | | tBTC | $833.84 | 0.01209245 | $6,238.01 | 0.0877 | | WELL | $101.62 | 23482.67146191 | $11,296.41 | 2824102.7337 | | weETH | $7.47 | 0.0033177 | $16,633.76 | 7.0507 | | rETH | $2.26 | 0.00094248 | $10,496.97 | 4.1838 | | LBTC | $1.09 | 0.00001576 | $15,015.45 | 0.2115 | | wrsETH | $1.04 | 0.00047018 | $2,712.46 | 1.1744 | | MAMO | $0.61 | 44.32842002 | $261.29 | 18663.529 | | USDbC | $0.03 | 0.033564 | $2.56 | 2.5628 | ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | WETH | +0% from 3.71K WETH to 3.72K WETH | +0% from 4.23K WETH to 4.24K WETH | -0% from 87.77% to 87.72% | | USDS | -0% from 8.38K USDS to 8.35K USDS | -2% from 9.76K USDS to 9.54K USDS | +2% from 85.82% to 87.55% | | USDC | +1% from 12.69M USDC to 12.77M USDC | +3% from 19.09M USDC to 19.72M USDC | -3% from 66.48% to 64.76% | | VIRTUAL | +1% from 2.11M VIRTUAL to 2.13M VIRTUAL | +0% from 3.74M VIRTUAL to 3.74M VIRTUAL | +1% from 56.45% to 56.86% | | DAI | -17% from 12.43K DAI to 10.27K DAI | -0% from 22.51K DAI to 22.51K DAI | -17% from 55.21% to 45.63% | | cbETH | +0% from 746.86 cbETH to 748.09 cbETH | +2% from 1.62K cbETH to 1.65K cbETH | -2% from 46.23% to 45.39% | | cbXRP | +0% from 1.33M cbXRP to 1.33M cbXRP | -0% from 3.16M cbXRP to 3.16M cbXRP | +0% from 41.94% to 42.11% | | EURC | +2% from 537.28K EURC to 547.16K EURC | -2% from 1.58M EURC to 1.54M EURC | +4% from 34.06% to 35.52% | | MAMO | **+65% from 479.39K MAMO to 791.62K MAMO** | +14% from 1.98M MAMO to 2.25M MAMO | **+45% from 24.20% to 35.16%** | | WELL | -23% from 29.27M WELL to 22.66M WELL | -3% from 128.17M WELL to 124.36M WELL | -20% from 22.84% to 18.22% | | AERO | +5% from 2.78M AERO to 2.91M AERO | -2% from 15.84M AERO to 15.53M AERO | +7% from 17.57% to 18.76% | | tBTC | -0% from 0.20 tBTC to 0.20 tBTC | -39% from 1.50 tBTC to 0.92 tBTC | **+63% from 13.05% to 21.27%** | | cbBTC | -13% from 22.28 cbBTC to 19.48 cbBTC | +1% from 128.27 cbBTC to 129.96 cbBTC | -14% from 17.37% to 14.99% | | USDbC | +0% from 913.79 USDbC to 913.80 USDbC | -0% from 8.19K USDbC to 8.18K USDbC | +0% from 11.16% to 11.17% | | wstETH | +6% from 144.85 wstETH to 153.17 wstETH | -1% from 1.41K wstETH to 1.40K wstETH | +6% from 10.25% to 10.91% | | LBTC | **+45% from 2.66 LBTC to 3.84 LBTC** | -0% from 55.59 LBTC to 55.39 LBTC | **+45% from 4.78% to 6.93%** | | MORPHO | +0% from 215.62K MORPHO to 215.66K MORPHO | -0% from 5.67M MORPHO to 5.66M MORPHO | +0% from 3.80% to 3.81% | | rETH | -3% from 14.92 rETH to 14.52 rETH | -1% from 765.38 rETH to 758.52 rETH | -2% from 1.95% to 1.91% | | weETH | **+51% from 0.48 weETH to 0.73 weETH** | -0% from 53.14 weETH to 53.12 weETH | **+51% from 0.90% to 1.37%** | | wrsETH | 0% from 0.01 wrsETH to 0.01 wrsETH | -0% from 35.63 wrsETH to 35.45 wrsETH | +0% from 0.04% to 0.04% | ### Notable Trends - USDC supply +3% (19.09M → 19.72M USDC) - cbBTC borrows -13% (22.28 → 19.48 cbBTC) - LBTC borrows +45% (2.66 → 3.84 LBTC) ### Liquidations - **Total liquidations:** 73 - **Total Collateral Seized (USD):** $5,084.71 - **Total Debt Repaid (USD):** $4,622.46 - **Total Liquidation Bonus (USD):** $462.25 - **Total Liquidator Bonus (USD):** $323.57 - **Total Protocol Bonus (USD):** $138.67 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | AERO | 13,477.101338 | $4,401.65 | $4,001.50 | $400.15 | $280.11 | $120.05 | 7 | | WETH | 0.206454 | $440.57 | $400.52 | $40.05 | $28.04 | $12.02 | 22 | | USDC | 99.568479 | $99.56 | $90.51 | $9.05 | $6.34 | $2.72 | 15 | | cbETH | 0.030124 | $74.14 | $67.40 | $6.74 | $4.72 | $2.02 | 1 | | WELL | 11,113.738800 | $50.69 | $46.08 | $4.61 | $3.23 | $1.38 | 7 | | VIRTUAL | 22.782270 | $15.24 | $13.86 | $1.39 | $0.97 | $0.42 | 4 | | MORPHO | 1.455344 | $2.56 | $2.32 | $0.23 | $0.16 | $0.07 | 6 | | DAI | 0.291255 | $0.29 | $0.26 | $0.03 | $0.02 | $0.01 | 11 | ## OP Mainnet | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | cbETH | 0.00 | 0.00 | 0.00% | 0.00% | 99.45% | | USDT0 | 8.00M | 10.00M | 0.50% | 0.50% | 79.98% | | DAI | 4.50M | 4.80M | 0.64% | 0.82% | 72.98% | | WETH | 30.00K | 32.00K | 2.37% | 3.51% | 63.15% | | USDC | 34.00M | 36.40M | 0.77% | 1.68% | 42.99% | | USDT | 18.40M | 22.60M | 0.27% | 0.52% | 41.64% | | OP | 650.00K | 5.60M | 36.79% | 14.32% | 29.81% | | rETH | 150.00 | 750.00 | 1.58% | 2.36% | 13.39% | | WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 9.44% | | VELO | 6.00M | 80.00M | 27.18% | 39.48% | 5.17% | | wstETH | 300.00 | 5.00K | 1.49% | 2.40% | 3.72% | | weETH | 0.00 | 0.00 | 0.00% | 0.00% | 3.08% | | wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.83% | ![image2](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/a/ab32e585cdfd8bfc1739d536625064cb51be1f99.jpeg) ### Bad Debt & Reserves | **Market** | **Bad Debt (USD)** | **Bad Debt (tokens)** | **Reserves (USD)** | **Reserves (tokens)** | | --- | --- | --- | --- | --- | | rETH | $5,553.00 | 2.31593402 | $683.35 | 0.2718 | | wstETH | $3,552.00 | 1.39690578 | $5,668.25 | 2.1262 | | cbETH | $251.00 | 0.10794091 | $1.95 | 0.0008 | | VELO | $21.00 | 1448.88607653 | $7,575.55 | 505036.5161 | ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | cbETH | 0% from 0.11 cbETH to 0.11 cbETH | 0% from 0.11 cbETH to 0.11 cbETH | 0% from 99.45% to 99.45% | | USDT0 | +0% from 40.00K USDT0 to 40.04K USDT0 | -0% from 50.17K USDT0 to 49.97K USDT0 | +1% from 79.72% to 80.13% | | DAI | +0% from 28.69K DAI to 28.73K DAI | -1% from 39.81K DAI to 39.35K DAI | +1% from 72.06% to 73.00% | | WETH | +0% from 709.70 WETH to 710.73 WETH | +0% from 1.12K WETH to 1.12K WETH | +0% from 63.15% to 63.24% | | USDC | -4% from 272.16K USDC to 261.96K USDC | -0% from 613.21K USDC to 611.16K USDC | -3% from 44.38% to 42.86% | | USDT | +1% from 48.30K USDT to 48.68K USDT | +0% from 117.26K USDT to 117.31K USDT | +1% from 41.19% to 41.50% | | OP | +0% from 237.18K OP to 237.81K OP | +1% from 796.68K OP to 805.58K OP | -1% from 29.77% to 29.52% | | rETH | -6% from 2.47 rETH to 2.32 rETH | -3% from 17.94 rETH to 17.49 rETH | -4% from 13.76% to 13.27% | | WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.01 WBTC to 0.01 WBTC | 0% from 9.44% to 9.44% | | VELO | -0% from 1.64M VELO to 1.63M VELO | -3% from 32.16M VELO to 31.36M VELO | +2% from 5.09% to 5.21% | | wstETH | +0% from 4.47 wstETH to 4.47 wstETH | +1% from 119.67 wstETH to 121.31 wstETH | -1% from 3.73% to 3.68% | | weETH | 0% from 1.29 weETH to 1.29 weETH | 0% from 41.78 weETH to 41.78 weETH | 0% from 3.08% to 3.08% | | wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | 0% from 15.09 wrsETH to 15.09 wrsETH | 0% from 1.83% to 1.83% | ### Liquidations - **Total liquidations:** 7 - **Total Collateral Seized (USD):** $12,469.32 - **Total Debt Repaid (USD):** $11,335.75 - **Total Liquidation Bonus (USD):** $1,133.57 - **Total Liquidator Bonus (USD):** $793.50 - **Total Protocol Bonus (USD):** $340.07 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | VELO | 884,303.410000 | $12,387.48 | $11,261.35 | $1,126.13 | $788.29 | $337.84 | 2 | | OP | 756.315650 | $81.84 | $74.40 | $7.44 | $5.21 | $2.23 | 5 | ## Moonbeam | Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | | GLMR | 0.10 | 11472.04M% | 74.92% | | xcDOT | 0.10 | 3.28M% | 48.17% | | FRAX | 0.10 | 143.63K% | 46.52% | | xcUSDC | 0.10 | 9.13M% | 17.64% | | xcUSDT | 0.10 | 12.16M% | 15.17% | | USDC.wh | 0.10 | 8.38M% | 8.88% | | ETH.wh | 0.10 | 845.40% | 3.36% | | BTC.wh | 0.10 | 0.80% | 0.08% | ![image3](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/c/ca6840ae894ba1e5f5e56dcda8a6de7456f5efbf.jpeg) ### Bad Debt & Reserves | **Market** | **Bad Debt (USD)** | **Bad Debt (tokens)** | **Reserves (USD)** | **Reserves (tokens)** | | --- | --- | --- | --- | --- | | GLMR | $125,546.00 | 11675417.27597645 | $45,505.77 | 3792147.6066 | ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | GLMR | +0% from 11.47M GLMR to 11.48M GLMR | +0% from 15.31M GLMR to 15.32M GLMR | +0% from 74.92% to 74.93% | | xcDOT | 0% from 3.28K xcDOT to 3.28K xcDOT | 0% from 1.07M xcDOT to 1.07M xcDOT | 0% from 48.17% to 48.17% | | FRAX | 0% from 143.63 FRAX to 143.63 FRAX | 0% from 38.70K FRAX to 38.70K FRAX | 0% from 46.52% to 46.52% | | xcUSDC | 0% from 9.13K xcUSDC to 9.13K xcUSDC | 0% from 51.74K xcUSDC to 51.74K xcUSDC | 0% from 17.64% to 17.64% | | xcUSDT | 0% from 12.16K xcUSDT to 12.16K xcUSDT | 0% from 80.17K xcUSDT to 80.17K xcUSDT | 0% from 15.17% to 15.17% | | USDC.wh | 0% from 8.38K USDC.wh to 8.38K USDC.wh | 0% from 94.34K USDC.wh to 94.34K USDC.wh | 0% from 8.88% to 8.88% | | ETH.wh | 0% from 0.85 ETH.wh to 0.85 ETH.wh | 0% from 25.18 ETH.wh to 25.18 ETH.wh | 0% from 3.36% to 3.36% | | BTC.wh | 0% from 0.00 BTC.wh to 0.00 BTC.wh | 0% from 1.04 BTC.wh to 1.04 BTC.wh | 0% from 0.08% to 0.08% | ### Liquidations No liquidation events this week. ---
**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\ **Post date:** [April 2, 2026, 11:42pm UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/60 "2026-04-02T23:42:19Z")
# Weekly Update (3/27/26 - 4/2/26) Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base and OP Mainnet. Data from 3/27/26 to 4/2/26. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/base/overview). ## Base | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | USDS | 690.00K | 750.00K | 1.21% | 1.27% | 87.80% | | WETH | 64.00K | 96.00K | 5.25% | 4.36% | 80.27% | | USDC | 184.00M | 200.00M | 6.77% | 9.46% | 66.37% | | VIRTUAL | 10.00K | 4.50M | 21.36K% | 82.92% | 57.25% | | EURC | 21.00M | 21.90M | 2.61% | 4.56% | 55.09% | | cbETH | 0.00 | 4.00K | 0.00% | 40.53% | 46.20% | | DAI | 300.00K | 400.00K | 3.43% | 5.63% | 45.75% | | cbXRP | 1.60M | 5.00M | 83.18% | 61.88% | 43.08% | | tBTC | 5.00 | 50.00 | 4.01% | 1.84% | 21.77% | | MAMO | 3.00M | 20.00M | 22.84% | 17.65% | 20.39% | | AERO | 7.50M | 70.00M | 38.58% | 22.88% | 18.07% | | WELL | 34.00M | 250.00M | 71.52% | 65.55% | 15.79% | | cbBTC | 90.00 | 1.50K | 22.12% | 8.51% | 15.60% | | wstETH | 500.00 | 14.40K | 30.64% | 7.32% | 15.06% | | USDbC | 1.00 | 1.00 | 91.38K% | 818.35K% | 11.17% | | LBTC | 10.00 | 95.00 | 33.39% | 58.33% | 6.02% | | MORPHO | 100.00K | 6.00M | 215.58% | 94.38% | 3.81% | | rETH | 200.00 | 2.60K | 7.24% | 29.18% | 1.91% | | weETH | 200.00 | 5.40K | 0.33% | 1.15% | 1.10% | | wrsETH | 0.00 | 1.00 | 0.00% | 3.53K% | 0.04% | | VVV | 0.1 | 170K | 0.00% | 21.63% | 0.00% | ![image1](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/1/11083d539f7984818c9d0ed0a8b1e4361fff4430.png) ### Bad Debt & Reserves | **Market** | **Bad Debt (USD)** | **Bad Debt (tokens)** | **Reserves (USD)** | **Reserves (tokens)** | | --- | --- | --- | --- | --- | | cbETH | $1,691,325.11 | 725.4342164 | $133,520.16 | 58.2597 | | cbXRP | $1,679,878.34 | 1271989.467206 | $680,521.49 | 521872.309 | | VIRTUAL | $1,356,950.89 | 2133595.67314738 | $594,413.13 | 942017.6356 | | WETH | $500,306.43 | 241.76505758 | $147,455.29 | 72.4731 | | USDC | $320,116.79 | 320148.414757 | $136,792.14 | 136792.1393 | | wstETH | $208,773.75 | 81.98540355 | $89,140.69 | 35.6062 | | EURC | $192,001.04 | 166614.06215 | $28,601.90 | 24828.0381 | | MORPHO | $177,681.91 | 119487.55707242 | $21,989.97 | 14659.9797 | | AERO | $147,743.05 | 468475.31720398 | $92,022.38 | 292134.5322 | | cbBTC | $20,906.43 | 0.31229628 | $117,512.95 | 1.7725 | | DAI | $1,525.24 | 1525.39362138 | $1,923.87 | 1923.8748 | | USDS | $1,179.15 | 1179.53365689 | $156.05 | 156.0546 | | tBTC | $810.34 | 0.01209708 | $5,838.65 | 0.0877 | | WELL | $96.27 | 23498.30889261 | $11,315.43 | 2828857.2758 | | weETH | $7.49 | 0.00331781 | $15,657.36 | 7.0507 | | rETH | $2.26 | 0.0009425 | $9,879.87 | 4.1839 | | LBTC | $1.06 | 0.00001576 | $14,071.16 | 0.2115 | | wrsETH | $1.04 | 0.00047018 | $2,553.01 | 1.1744 | | MAMO | $0.57 | 44.4046777 | $248.66 | 19127.61 | | USDbC | $0.03 | 0.033566 | $2.65 | 2.6466 | ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | USDS | +1% from 8.35K USDS to 8.40K USDS | +2% from 9.49K USDS to 9.65K USDS | -1% from 88.02% to 87.09% | | WETH | -13% from 3.71K WETH to 3.21K WETH | -3% from 4.23K WETH to 4.10K WETH | -11% from 87.81% to 78.46% | | USDC | -2% from 12.77M USDC to 12.48M USDC | -24% from 19.77M USDC to 15.02M USDC | +29% from 64.57% to 83.12% | | VIRTUAL | +1% from 2.13M VIRTUAL to 2.15M VIRTUAL | -0% from 3.74M VIRTUAL to 3.72M VIRTUAL | +1% from 56.89% to 57.67% | | EURC | +0% from 546.70K EURC to 548.63K EURC | -37% from 1.55M EURC to 970.49K EURC | **+60% from 35.37% to 56.53%** | | cbETH | +0% from 748.12 cbETH to 749.64 cbETH | -1% from 1.65K cbETH to 1.63K cbETH | +1% from 45.38% to 45.97% | | DAI | +0% from 10.27K DAI to 10.32K DAI | +0% from 22.51K DAI to 22.51K DAI | +0% from 45.63% to 45.84% | | cbXRP | +0% from 1.33M cbXRP to 1.33M cbXRP | -8% from 3.16M cbXRP to 2.91M cbXRP | +9% from 42.11% to 45.84% | | tBTC | -0% from 0.20 tBTC to 0.20 tBTC | +0% from 0.92 tBTC to 0.92 tBTC | -0% from 21.27% to 21.26% | | MAMO | -18% from 791.30K MAMO to 645.16K MAMO | **+63% from 2.25M MAMO to 3.66M MAMO** | **-50% from 35.14% to 17.61%** | | AERO | -6% from 2.91M AERO to 2.74M AERO | +5% from 15.53M AERO to 16.24M AERO | -10% from 18.76% to 16.89% | | WELL | +15% from 22.66M WELL to 26.03M WELL | **+73% from 124.36M WELL to 215.03M WELL** | -34% from 18.22% to 12.11% | | cbBTC | +5% from 19.58 cbBTC to 20.49 cbBTC | -5% from 128.89 cbBTC to 122.45 cbBTC | +10% from 15.19% to 16.74% | | wstETH | +0% from 153.16 wstETH to 153.25 wstETH | -38% from 1.40K wstETH to 873.87 wstETH | **+61% from 10.91% to 17.54%** | | USDbC | +0% from 913.80 USDbC to 913.87 USDbC | -0% from 8.18K USDbC to 8.18K USDbC | +0% from 11.17% to 11.17% | | LBTC | -33% from 3.84 LBTC to 2.59 LBTC | +0% from 55.39 LBTC to 55.44 LBTC | -33% from 6.93% to 4.67% | | MORPHO | -0% from 215.66K MORPHO to 215.53K MORPHO | -0% from 5.66M MORPHO to 5.66M MORPHO | -0% from 3.81% to 3.81% | | rETH | -0% from 14.51 rETH to 14.47 rETH | +0% from 758.58 rETH to 758.92 rETH | -0% from 1.91% to 1.91% | | weETH | -12% from 0.71 weETH to 0.63 weETH | **+46% from 53.11 weETH to 77.79 weETH** | -40% from 1.35% to 0.81% | | wrsETH | 0% from 0.01 wrsETH to 0.01 wrsETH | -1% from 35.45 wrsETH to 35.24 wrsETH | +1% from 0.04% to 0.04% | | VVV | N/A | **+982% from 6023.97 VVV to 65153.19 VVV** | N/A | ### Notable Trends - USDC supply -24% (19.77M → 15.02M USDC) - wstETH supply -38% (1.40K → 873.87 wstETH) - EURC supply -37% (1.55M → 970.49K EURC) - WELL supply +73% (124.36M → 215.03M WELL) - VVV supply +982% (6023.97 → 65153.19 VVV) ### Liquidations - **Total liquidations:** 49 - **Total Collateral Seized (USD):** $6,488.21 - **Total Debt Repaid (USD):** $5,898.37 - **Total Liquidation Bonus (USD):** $589.84 - **Total Liquidator Bonus (USD):** $412.89 - **Total Protocol Bonus (USD):** $176.95 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | USDC | 4,821.481200 | $4,820.32 | $4,382.11 | $438.21 | $306.75 | $131.46 | 12 | | cbXRP | 576.098000 | $760.04 | $690.95 | $69.09 | $48.37 | $20.73 | 2 | | WETH | 0.239337 | $477.34 | $433.94 | $43.39 | $30.38 | $13.02 | 22 | | cbBTC | 0.002502 | $162.62 | $147.84 | $14.78 | $10.35 | $4.44 | 2 | | AERO | 459.846319 | $146.74 | $133.40 | $13.34 | $9.34 | $4.00 | 7 | | wstETH | 0.042437 | $106.68 | $96.98 | $9.70 | $6.79 | $2.91 | 1 | | VIRTUAL | 21.821650 | $14.48 | $13.16 | $1.32 | $0.92 | $0.39 | 3 | ## OP Mainnet | Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization | | --- | --- | --- | --- | --- | --- | | cbETH | 0.00 | 0.00 | 0.00% | 0.00% | 99.45% | | DAI | 4.50M | 4.80M | 0.64% | 0.82% | 73.00% | | USDT0 | 8.00M | 10.00M | 0.50% | 0.58% | 70.24% | | WETH | 30.00K | 32.00K | 1.88% | 3.00% | 55.42% | | USDC | 34.00M | 36.40M | 0.80% | 1.72% | 43.02% | | USDT | 18.40M | 22.60M | 0.27% | 0.52% | 41.74% | | OP | 650.00K | 5.60M | 42.83% | 14.57% | 34.14% | | rETH | 150.00 | 750.00 | 1.55% | 2.35% | 13.17% | | WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 9.44% | | VELO | 6.00M | 80.00M | 27.22% | 39.19% | 5.21% | | wstETH | 300.00 | 5.00K | 1.37% | 2.43% | 3.38% | | weETH | 0.00 | 0.00 | 0.00% | 0.00% | 3.08% | | wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.99% | ![image2](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/4/49a643d7256f87201f75c4b4629d96a27b40b27d.png) ### Bad Debt & Reserves | **Market** | **Bad Debt (USD)** | **Bad Debt (tokens)** | **Reserves (USD)** | **Reserves (tokens)** | | --- | --- | --- | --- | --- | | rETH | $5,531.00 | 2.31593402 | $646.59 | 0.2718 | | wstETH | $3,538.00 | 1.39690578 | $5,364.22 | 2.1262 | | cbETH | $250.00 | 0.10794091 | $1.85 | 0.0008 | | VELO | $20.00 | 1448.88607653 | $7,073.79 | 505270.7991 | ### Week-over-Week Changes | Asset | Total Borrow | Total Supply | Utilization | | --- | --- | --- | --- | | cbETH | 0% from 0.11 cbETH to 0.11 cbETH | 0% from 0.11 cbETH to 0.11 cbETH | 0% from 99.45% to 99.45% | | DAI | +0% from 28.73K DAI to 28.74K DAI | +0% from 39.35K DAI to 39.37K DAI | +0% from 73.00% to 73.01% | | USDT0 | +0% from 40.04K USDT0 to 40.07K USDT0 | +25% from 49.84K USDT0 to 62.49K USDT0 | -20% from 80.34% to 64.12% | | WETH | **+42% from 710.73 WETH to 1.01K WETH** | +22% from 1.12K WETH to 1.38K WETH | +16% from 63.24% to 73.54% | | USDC | +29% from 261.96K USDC to 338.42K USDC | +11% from 611.16K USDC to 677.88K USDC | +16% from 42.86% to 49.92% | | USDT | +0% from 48.68K USDT to 48.79K USDT | +0% from 117.31K USDT to 117.33K USDT | +0% from 41.50% to 41.59% | | OP | +26% from 238.28K OP to 300.05K OP | +8% from 806.30K OP to 870.53K OP | +17% from 29.55% to 34.47% | | rETH | +0% from 2.32 rETH to 2.32 rETH | +1% from 17.49 rETH to 17.68 rETH | -1% from 13.27% to 13.12% | | WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.01 WBTC to 0.01 WBTC | 0% from 9.44% to 9.44% | | VELO | +0% from 1.63M VELO to 1.64M VELO | +0% from 31.36M VELO to 31.36M VELO | +0% from 5.21% to 5.21% | | wstETH | -13% from 4.47 wstETH to 3.89 wstETH | +1% from 121.31 wstETH to 121.93 wstETH | -13% from 3.68% to 3.19% | | weETH | 0% from 1.29 weETH to 1.29 weETH | 0% from 41.78 weETH to 41.78 weETH | 0% from 3.08% to 3.08% | | wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | -17% from 15.09 wrsETH to 12.48 wrsETH | +21% from 1.83% to 2.22% | ### Notable Trends - WETH borrows +42% (710.73 → 1.01K WETH) - WETH supply +22% (1.12K → 1.38K WETH) - USDC borrows +29% (261.96K → 338.42K USDC) - USDT0 supply +25% (49.84K → 62.49K USDT0) ### Liquidations - **Total liquidations:** 12 - **Total Collateral Seized (USD):** $43.61 - **Total Debt Repaid (USD):** $39.64 - **Total Liquidation Bonus (USD):** $3.96 - **Total Liquidator Bonus (USD):** $2.78 - **Total Protocol Bonus (USD):** $1.19 | Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count | | --- | --- | --- | --- | --- | --- | --- | --- | | OP | 215.197760 | $21.92 | $19.93 | $1.99 | $1.39 | $0.60 | 10 | | USDC | 21.507200 | $21.50 | $19.55 | $1.95 | $1.37 | $0.59 | 1 | | wstETH | 0.000077 | $0.19 | $0.17 | $0.02 | $0.01 | $0.01 | 1 | [Previous page](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772.md?page=2) [Next page](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772.md?page=4)