[Anthias Labs] Weekly Market Updates

Weekly Update (8/22/25 - 8/28/25)

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 8/22/25 to 8/28/25. More information can be found on our monitoring dashboard.

Base

Asset Current Borrow Cap Current Supply Cap Average Borrow Cap Usage (Past Week) Average Supply Cap Usage (Past Week) Average Utilization
USDC 184.00M 200.00M 29.70% 30.73% 88.98%
WETH 64.00K 96.00K 29.99% 23.11% 86.48%
USDS 690.00K 750.00K 2.55% 2.75% 85.42%
EURC 21.00M 21.90M 11.48% 13.37% 82.47%
DAI 300.00K 400.00K 6.21% 7.74% 60.19%
VIRTUAL 2.30M 4.50M 33.59% 40.80% 42.26%
AERO 25.00M 70.00M 40.27% 38.09% 37.79%
WELL 75.00M 220.00M 62.69% 75.07% 28.47%
cbBTC 640.00 1.50K 20.62% 45.06% 19.53%
LBTC 38.00 95.00 25.13% 54.15% 18.60%
cbXRP 1.60M 3.00M 20.26% 60.51% 17.85%
tBTC 36.00 90.00 5.17% 12.94% 16.61%
USDbC 1.00 1.00 148.18K% 1.00M% 14.79%
MORPHO 1.00M 6.00M 53.20% 97.58% 9.08%
wrsETH 430.00 1.00K 0.74% 12.04% 2.66%
cbETH 6.40K 16.00K 0.98% 15.08% 2.60%
rETH 900.00 2.60K 2.57% 39.82% 2.23%
wstETH 4.80K 14.40K 2.04% 31.00% 2.20%
weETH 700.00 4.00K 4.80% 75.48% 1.11%

Week-over-Week Changes

Asset Total Borrow Total Supply Utilization
USDC +4% from 56.04M USDC to 58.38M USDC -1% from 62.70M USDC to 61.81M USDC +6% from 89.38% to 94.46%
WETH -2% from 18.60K WETH to 18.30K WETH -1% from 21.60K WETH to 21.45K WETH -1% from 86.14% to 85.34%
USDS -6% from 18.54K USDS to 17.42K USDS +1% from 20.40K USDS to 20.65K USDS -7% from 90.89% to 84.36%
EURC -1% from 2.31M EURC to 2.30M EURC -7% from 2.97M EURC to 2.77M EURC +7% from 77.96% to 83.03%
DAI -10% from 20.33K DAI to 18.29K DAI -0% from 31.01K DAI to 30.86K DAI -10% from 65.57% to 59.27%
VIRTUAL -10% from 950.36K VIRTUAL to 853.36K VIRTUAL -25% from 2.50M VIRTUAL to 1.87M VIRTUAL +20% from 38.00% to 45.55%
AERO +2% from 9.90M AERO to 10.14M AERO -1% from 26.83M AERO to 26.46M AERO +4% from 36.90% to 38.31%
WELL -3% from 50.08M WELL to 48.57M WELL +6% from 161.06M WELL to 171.39M WELL -9% from 31.09% to 28.34%
cbBTC -7% from 136.82 cbBTC to 127.33 cbBTC +0% from 676.72 cbBTC to 679.47 cbBTC -7% from 20.22% to 18.74%
LBTC +6% from 9.20 LBTC to 9.73 LBTC +19% from 43.51 LBTC to 51.58 LBTC -11% from 21.15% to 18.87%
cbXRP +28% from 257.11K cbXRP to 328.32K cbXRP +13% from 1.68M cbXRP to 1.90M cbXRP +13% from 15.29% to 17.31%
tBTC +5% from 1.78 tBTC to 1.88 tBTC +50% from 9.50 tBTC to 14.29 tBTC -30% from 18.77% to 13.15%
USDbC +0% from 1.48K USDbC to 1.48K USDbC -0% from 10.03K USDbC to 10.02K USDbC +0% from 14.77% to 14.79%
MORPHO -9% from 608.76K MORPHO to 553.37K MORPHO +0% from 5.92M MORPHO to 5.94M MORPHO -9% from 10.28% to 9.32%
wrsETH -0% from 3.20 wrsETH to 3.20 wrsETH +0% from 120.37 wrsETH to 120.46 wrsETH -0% from 2.66% to 2.65%
cbETH -22% from 74.22 cbETH to 57.73 cbETH +0% from 2.39K cbETH to 2.39K cbETH -22% from 3.10% to 2.41%
rETH -1% from 23.18 rETH to 23.06 rETH -3% from 1.05K rETH to 1.02K rETH +2% from 2.21% to 2.27%
wstETH -54% from 200.91 wstETH to 91.92 wstETH -0% from 4.46K wstETH to 4.44K wstETH -54% from 4.51% to 2.07%
weETH +2% from 33.34 weETH to 33.84 weETH -0% from 3.02K weETH to 3.01K weETH +2% from 1.10% to 1.12%

Notable Trends

  • VIRTUAL supply decreased 25% from 2.50M to 1.87M VIRTUAL
  • tBTC supply increased 50% from 9.50 to 14.29 tBTC
  • cbXRP borrows increased 28% from 257.11K to 328.32K cbXRP
  • wstETH borrows decreased 54% from 200.91 to 91.92 wstETH

Liquidations

  • Total liquidations: 119
  • Total Collateral Seized (USD): $1,971,411.93
  • Total Debt Repaid (USD): $1,792,192.66
  • Total Liquidation Bonus (USD): $179,219.27
  • Total Liquidator Bonus (USD): $125,453.49
  • Total Protocol Bonus (USD): $53,765.78
Asset Total Seized (Tokens) Total Seized (USD) Debt Repaid (USD) Liquidation Bonus (USD) Liquidator Bonus (USD) Protocol Bonus (USD) Liquidation Count
USDC 1,838,031.8197 $1,837,788.72 $1,670,717.02 $167,071.70 $116,950.19 $50,121.51 34
AERO 75,415.474802 $97,789.84 $88,899.86 $8,889.99 $6,222.99 $2,667.00 18
WETH 2.646941 $11,495.00 $10,450.00 $1,045.00 $731.50 $313.50 25
cbBTC 0.097611 $10,932.05 $9,938.23 $993.82 $695.68 $298.15 13
WELL 249,529.2 $7,281.72 $6,619.74 $661.97 $463.38 $198.59 6
EURC 2,663.009 $3,109.12 $2,826.47 $282.65 $197.85 $84.79 4
cbXRP 467.093 $1,368.68 $1,244.25 $124.43 $87.10 $37.33 2
VIRTUAL 597.91354 $691.29 $628.44 $62.84 $43.99 $18.85 7
cbETH 0.075168 $392.36 $356.69 $35.67 $24.97 $10.70 1
weETH 0.056265 $279.93 $254.48 $25.45 $17.81 $7.63 1
wstETH 0.035563 $198.82 $180.74 $18.07 $12.65 $5.42 2
LBTC 0.000508 $58.96 $53.60 $5.36 $3.75 $1.61 4
tBTC 0.000206 $23.44 $21.31 $2.13 $1.49 $0.64 1
DAI 2.016010 $2.02 $1.83 $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
USDC 34.00M 36.40M 23.93% 25.00% 89.43%
WETH 30.00K 32.00K 21.70% 22.79% 89.34%
USDT0 8.00M 10.00M 12.66% 11.69% 86.59%
USDT 18.40M 22.60M 2.34% 2.20% 86.48%
DAI 4.50M 4.80M 6.34% 6.98% 84.87%
OP 650.00K 5.60M 45.36% 40.41% 13.04%
rETH 340.00 750.00 1.68% 14.65% 5.56%
wstETH 1.50K 5.00K 2.47% 15.91% 4.67%
WBTC 0.00 0.00 0.00% 0.00% 4.33%
VELO 20.00M 68.00M 10.02% 77.37% 3.82%
wrsETH 160.00 400.00 0.40% 6.00% 2.64%
weETH 220.00 1.20K 6.20% 100.01% 1.14%
cbETH 0.00 10.00 0.00% 8.07% 0.02%

Week-over-Week Changes

Asset Total Borrow Total Supply Utilization
USDC -4% from 9.81M USDC to 9.43M USDC -4% from 10.98M USDC to 10.57M USDC -0% from 89.36% to 89.23%
WETH +6% from 7.49K WETH to 7.95K WETH +7% from 8.47K WETH to 9.10K WETH -1% from 88.38% to 87.40%
USDT0 +2% from 934.32K USDT0 to 953.65K USDT0 -4% from 1.12M USDT0 to 1.07M USDT0 +7% from 83.22% to 88.79%
USDT -7% from 373.49K USDT to 348.86K USDT -6% from 443.55K USDT to 417.78K USDT -1% from 84.21% to 83.50%
DAI +75% from 252.81K DAI to 443.06K DAI +62% from 303.24K DAI to 491.90K DAI +8% from 83.37% to 90.07%
OP -1% from 296.07K OP to 293.06K OP +5% from 2.16M OP to 2.28M OP -6% from 13.72% to 12.88%
rETH -38% from 7.32 rETH to 4.55 rETH -16% from 101.20 rETH to 85.35 rETH -26% from 7.23% to 5.34%
wstETH +14% from 35.15 wstETH to 40.03 wstETH -7% from 840.85 wstETH to 784.26 wstETH +22% from 4.18% to 5.10%
WBTC 0% from 0.00 WBTC to 0.00 WBTC 0% from 0.07 WBTC to 0.07 WBTC +0% from 4.33% to 4.33%
VELO -6% from 2.14M VELO to 2.01M VELO +7% from 50.01M VELO to 53.37M VELO -12% from 4.29% to 3.76%
wrsETH 0% from 0.63 wrsETH to 0.63 wrsETH +0% from 24.01 wrsETH to 24.01 wrsETH +0% from 2.64% to 2.64%
weETH +7% from 13.10 weETH to 13.98 weETH +0% from 1.20K weETH to 1.20K weETH +7% from 1.09% to 1.16%
cbETH 0% from 0.00 cbETH to 0.00 cbETH -1% from 0.81 cbETH to 0.81 cbETH +1% from 0.02% to 0.02%

Notable Trends

  • DAI supply increased 62% from 303.24K to 491.90K DAI
  • DAI borrows increased 75% from 252.81K to 443.06K DAI

Liquidations

  • Total liquidations: 3
  • Total Collateral Seized (USD): $498.15
  • Total Debt Repaid (USD): $452.86
  • Total Liquidation Bonus (USD): $45.29
  • Total Liquidator Bonus (USD): $31.70
  • Total Protocol Bonus (USD): $13.59
Asset Total Seized (Tokens) Total Seized (USD) Debt Repaid (USD) Liquidation Bonus (USD) Liquidator Bonus (USD) Protocol Bonus (USD) Liquidation Count
USDC 492.059 $492.01 $447.29 $44.73 $31.31 $13.42 1
WETH 0.000998 $4.71 $4.28 $0.43 $0.30 $0.13 1
DAI 1.42638 $1.43 $1.30 $0.13 $0.09 $0.04 1


Moonbeam

Asset Current Borrow Cap Average Borrow Cap Usage (Past Week) Average Utilization
xcUSDC 0.10 89.72M% 66.17%
GLMR 0.10 6783.27M% 63.50%
xcUSDT 0.10 77.94M% 51.91%
USDC_wh 0.10 42.64M% 36.71%
BTC_wh 0.10 99.99% 8.40%
xcDOT 0.10 23.17M% 100%
ETH_wh 0.10 1.22K% 2.61%
FRAX 0.10 447.94K% 44.90%

Week-over-Week Changes

Asset Total Borrow Total Supply Utilization
xcUSDC -7% from 91.24K xcUSDC to 84.55K xcUSDC -14% from 163.31K xcUSDC to 139.77K xcUSDC +8% from 55.87% to 60.50%
GLMR +1% from 6.75M GLMR to 6.81M GLMR +0% from 10.70M GLMR to 10.75M GLMR +0% from 63.14% to 63.41%
xcUSDT -8% from 80.92K xcUSDT to 74.50K xcUSDT -22% from 178.48K xcUSDT to 139.04K xcUSDT +18% from 45.34% to 53.58%
USDC_wh +1% from 42.33K USDC_wh to 42.84K USDC_wh +1% from 115.59K USDC_wh to 117.02K USDC_wh -0% from 36.62% to 36.61%
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 8.41% to 8.40%
xcDOT +0% from 23.17K xcDOT to 23.17K xcDOT +0% from 536.58K xcDOT to 536.58K xcDOT +0% from 100% to 100%
ETH_wh -2% from 1.24 ETH_wh to 1.21 ETH_wh -14% from 46.99 ETH_wh to 40.43 ETH_wh +14% from 2.63% to 3.00%
FRAX 0% from 447.94 FRAX to 447.94 FRAX 0% from 40.77K FRAX to 40.77K FRAX +0% from 44.90% to 44.90%

Liquidations

  • Total liquidations: 1
  • Total Collateral Seized (USD): $128.83
  • Total Debt Repaid (USD): $117.12
  • Total Liquidation Bonus (USD): $11.71
  • Total Liquidator Bonus (USD): $8.20
  • Total Protocol Bonus (USD): $3.51
Asset Total Seized (Tokens) Total Seized (USD) Debt Repaid (USD) Liquidation Bonus (USD) Liquidator Bonus (USD) Protocol Bonus (USD) Liquidation Count
GLMR 1,642.150000 $128.83 $117.12 $11.71 $8.20 $3.51 1


Moonriver

Asset Current Borrow Cap Average Borrow Cap Usage (Past Week) Average Utilization
xcKSM 0.10 6.57M% 42.48%
FRAX 0.10 64.39M% 19.57%
MOVR 0.10 3.57M% 2.38%

Week-over-Week Changes

Asset Total Borrow Total Supply Utilization
xcKSM -1% from 6.59K xcKSM to 6.51K xcKSM +4% from 15.06K xcKSM to 15.72K xcKSM -5% from 43.76% to 41.39%
FRAX 0% from 64.39K FRAX to 64.39K FRAX 0% from 329.00K FRAX to 329.00K FRAX 0% from 19.57% to 19.57%

Liquidations

No liquidations on Moonriver this week.