Weekly Update (9/12/25 - 9/18/25)
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 9/12/25 to 9/18/25. 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 |
|---|---|---|---|---|---|
| USDS | 690.00K | 750.00K | 3.30% | 3.33% | 91.28% |
| USDC | 184.00M | 200.00M | 25.65% | 26.35% | 89.52% |
| EURC | 21.00M | 21.90M | 11.30% | 12.41% | 87.37% |
| WETH | 64.00K | 96.00K | 20.49% | 15.78% | 86.52% |
| DAI | 300.00K | 400.00K | 7.70% | 7.71% | 74.92% |
| AERO | 25.00M | 70.00M | 38.16% | 37.39% | 36.45% |
| WELL | 75.00M | 220.00M | 74.56% | 77.49% | 32.81% |
| VIRTUAL | 2.30M | 4.50M | 14.64% | 31.73% | 23.60% |
| MORPHO | 1.00M | 6.00M | 25.64% | 21.93% | 19.58% |
| USDbC | 1.00 | 1.00 | 146.57K% | 992.27K% | 14.77% |
| cbXRP | 1.60M | 3.00M | 16.46% | 70.13% | 12.36% |
| cbBTC | 640.00 | 1.50K | 9.15% | 38.07% | 10.07% |
| LBTC | 38.00 | 95.00 | 9.69% | 46.14% | 7.60% |
| tBTC | 36.00 | 90.00 | 1.74% | 12.28% | 5.41% |
| wstETH | 4.80K | 14.40K | 3.90% | 29.67% | 4.39% |
| cbETH | 6.40K | 16.00K | 0.94% | 14.43% | 2.60% |
| rETH | 900.00 | 2.60K | 2.54% | 38.34% | 2.29% |
| weETH | 700.00 | 4.00K | 4.46% | 75.41% | 1.04% |
| wrsETH | 430.00 | 1.00K | 0.02% | 11.71% | 0.06% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| USDS | -22% from 23.47K USDS to 18.41K USDS | -22% from 25.86K USDS to 20.29K USDS | -0% from 90.76% to 90.73% |
| USDC | +24% from 45.42M USDC to 56.35M USDC | +24% from 50.69M USDC to 62.94M USDC | -0% from 89.59% to 89.53% |
| EURC | +2% from 2.39M EURC to 2.44M EURC | +3% from 2.65M EURC to 2.73M EURC | -0% from 90.03% to 89.60% |
| WETH | +36% from 12.93K WETH to 17.60K WETH | +42% from 14.28K WETH to 20.24K WETH | -4% from 90.54% to 86.94% |
| DAI | +49% from 18.20K DAI to 27.06K DAI | -2% from 30.87K DAI to 30.29K DAI | +52% from 58.96% to 89.35% |
| AERO | -0% from 9.41M AERO to 9.40M AERO | -3% from 26.38M AERO to 25.55M AERO | +3% from 35.68% to 36.77% |
| WELL | -20% from 64.37M WELL to 51.51M WELL | +2% from 173.39M WELL to 176.69M WELL | -21% from 37.13% to 29.15% |
| VIRTUAL | +11% from 341.36K VIRTUAL to 377.40K VIRTUAL | +15% from 1.38M VIRTUAL to 1.59M VIRTUAL | -4% from 24.76% to 23.71% |
| MORPHO | +227% from 138.92K MORPHO to 453.67K MORPHO | -73% from 5.96M MORPHO to 1.58M MORPHO | +1132% from 2.33% to 28.72% |
| USDbC | -0% from 1.47K USDbC to 1.46K USDbC | -1% from 9.99K USDbC to 9.87K USDbC | +1% from 14.68% to 14.84% |
| cbXRP | +147% from 184.15K cbXRP to 454.87K cbXRP | +11% from 2.06M cbXRP to 2.28M cbXRP | +123% from 8.96% to 19.94% |
| cbBTC | +155% from 41.59 cbBTC to 105.89 cbBTC | +13% from 557.72 cbBTC to 629.36 cbBTC | +126% from 7.46% to 16.82% |
| LBTC | +1216% from 0.92 LBTC to 12.11 LBTC | +36% from 38.71 LBTC to 52.50 LBTC | +871% from 2.38% to 23.06% |
| tBTC | +2437% from 0.08 tBTC to 2.08 tBTC | -3% from 12.17 tBTC to 11.87 tBTC | +2502% from 0.67% to 17.55% |
| wstETH | -52% from 194.09 wstETH to 93.59 wstETH | +8% from 4.03K wstETH to 4.37K wstETH | -56% from 4.82% to 2.14% |
| cbETH | +1% from 60.51 cbETH to 61.04 cbETH | +6% from 2.28K cbETH to 2.40K cbETH | -4% from 2.66% to 2.54% |
| rETH | +0% from 22.86 rETH to 22.86 rETH | -5% from 1.04K rETH to 985.51 rETH | +5% from 2.20% to 2.32% |
| weETH | -11% from 33.46 weETH to 29.78 weETH | -0% from 3.02K weETH to 3.01K weETH | -11% from 1.11% to 0.99% |
| wrsETH | -75% from 0.16 wrsETH to 0.04 wrsETH | -3% from 117.51 wrsETH to 114.55 wrsETH | -75% from 0.14% to 0.04% |
Notable Trends
- WETH supply increased 42% from 14.28K to 20.24K WETH
- MORPHO supply decreased 73% from 5.96M to 1.58M MORPHO
- MORPHO borrows increased 227% from 138.92K to 453.67K MORPHO
- cbXRP borrows increased 147% from 184.15K to 454.87K cbXRP
- cbBTC borrows increased 155% from 41.59 to 105.89 cbBTC
- LBTC supply increased 36% from 38.71 to 52.50 LBTC
- LBTC borrows increased 1216% from 0.92 to 12.11 LBTC
- tBTC borrows incfreased 2437% from 0.08 to 2.08 tBTC
- wstETH borrows decreased 52% from 194.09 to 93.59 wstETH
Liquidations
- Total liquidations: 61
- Total Collateral Seized (USD): $232,147.87
- Total Debt Repaid (USD): $211,043.51
- Total Liquidation Bonus (USD): $21,104.35
- Total Liquidator Bonus (USD): $14,773.05
- Total Protocol Bonus (USD): $6,331.31
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| AERO | 183,784.107290 | $230,235.71 | $209,305.19 | $20,930.52 | $14,651.36 | $6,279.16 | 17 |
| WETH | 0.238735 | $1,089.95 | $990.86 | $99.09 | $69.36 | $29.73 | 29 |
| WELL | 14,739.300000 | $394.06 | $358.24 | $35.82 | $25.08 | $10.75 | 1 |
| cbXRP | 84.279180 | $261.73 | $237.94 | $23.79 | $16.66 | $7.14 | 3 |
| VIRTUAL | 108.083700 | $139.69 | $126.99 | $12.70 | $8.89 | $3.81 | 2 |
| USDC | 24.254140 | $24.25 | $22.04 | $2.20 | $1.54 | $0.66 | 5 |
| EURC | 2.111596 | $2.48 | $2.25 | $0.23 | $0.16 | $0.07 | 4 |
Optimism
| 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 | 8.83% | 9.31% | 88.79% |
| USDC | 34.00M | 36.40M | 6.46% | 6.82% | 88.60% |
| USDT | 18.40M | 22.60M | 1.60% | 1.48% | 87.99% |
| USDT0 | 8.00M | 10.00M | 2.81% | 2.65% | 84.76% |
| DAI | 4.50M | 4.80M | 3.25% | 4.35% | 66.20% |
| OP | 650.00K | 5.60M | 42.61% | 36.42% | 13.62% |
| wstETH | 1.50K | 5.00K | 1.83% | 9.69% | 5.79% |
| rETH | 340.00 | 750.00 | 1.00% | 8.91% | 4.86% |
| VELO | 20.00M | 68.00M | 12.65% | 83.56% | 4.45% |
| WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 4.34% |
| wrsETH | 160.00 | 400.00 | 0.40% | 5.56% | 2.85% |
| weETH | 220.00 | 1.20K | 0.63% | 91.55% | 0.13% |
| cbETH | 0.00 | 10.00 | 0.00% | 6.23% | 0.03% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| WETH | +142% from 1.39K WETH to 3.36K WETH | +144% from 1.55K WETH to 3.78K WETH | -1% from 89.63% to 88.90% |
| USDC | +58% from 1.70M USDC to 2.68M USDC | +57% from 1.94M USDC to 3.03M USDC | +1% from 87.96% to 88.60% |
| USDT | +82% from 230.06K USDT to 418.01K USDT | +72% from 269.41K USDT to 463.35K USDT | +6% from 85.39% to 90.21% |
| USDT0 | -16% from 234.06K USDT0 to 197.20K USDT0 | -1% from 266.66K USDT0 to 263.63K USDT0 | -15% from 87.78% to 74.80% |
| DAI | -35% from 204.53K DAI to 132.38K DAI | -9% from 225.68K DAI to 205.29K DAI | -29% from 90.63% to 64.49% |
| OP | +16% from 221.27K OP to 256.10K OP | -6% from 2.19M OP to 2.06M OP | +23% from 10.12% to 12.44% |
| wstETH | +103% from 17.91 wstETH to 36.35 wstETH | -16% from 586.97 wstETH to 490.30 wstETH | +143% from 3.05% to 7.41% |
| rETH | -61% from 7.78 rETH to 3.06 rETH | -35% from 92.11 rETH to 59.61 rETH | -39% from 8.44% to 5.13% |
| VELO | +82% from 1.72M VELO to 3.13M VELO | +2% from 56.15M VELO to 57.13M VELO | +79% from 3.06% to 5.49% |
| WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.07 WBTC to 0.07 WBTC | +0% from 4.33% to 4.34% |
| wrsETH | +0% from 0.63 wrsETH to 0.63 wrsETH | -2% from 22.58 wrsETH to 22.24 wrsETH | +2% from 2.80% to 2.85% |
| weETH | +118% from 1.86 weETH to 4.05 weETH | -24% from 1.19K weETH to 897.22 weETH | +189% from 0.16% to 0.45% |
| cbETH | 0% from 0.00 cbETH to 0.00 cbETH | -30% from 0.72 cbETH to 0.50 cbETH | +44% from 0.02% to 0.03% |
- WETH supply increased +144% from 1.55K to 3.78K WETH
- WETH borrows increased +142% from 1.39K to 3.36K WETH
- USDC supply increased +57% from 1.94M to 3.03M USDC
- USDC borrows increased +58% from 1.70M to 2.68M USDC
- USDT supply increased +72% from 269.41K to 463.35K USDT
- USDT borrows increased +82% from 230.06K to 418.01K USDT
- VELO borrows increased +82% from 1.72M to 3.13M VELO
Liquidations
- Total liquidations: 1
- Total Collateral Seized (USD): $103.17
- Total Debt Repaid (USD): $93.79
- Total Liquidation Bonus (USD): $9.38
- Total Liquidator Bonus (USD): $6.57
- Total Protocol Bonus (USD): $2.81
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| USDC | 103.187000 | $103.17 | $93.79 | $9.38 | $6.57 | $2.81 | 1 |
Moonbeam
| Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|
| xcDOT | 0.10 | 22.55M% | 100.00% |
| GLMR | 0.10 | 6968.83M% | 64.01% |
| xcUSDC | 0.10 | 82.97M% | 62.57% |
| xcUSDT | 0.10 | 73.98M% | 52.64% |
| FRAX | 0.10 | 448.00K% | 44.90% |
| USDC.wh | 0.10 | 44.06M% | 35.90% |
| BTC.wh | 0.10 | 100.20% | 8.25% |
| ETH.wh | 0.10 | 1.20K% | 3.22% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| xcDOT | +0% from 22.54K xcDOT to 22.56K xcDOT | +0% from 535.95K xcDOT to 535.96K xcDOT | +0% from 100.00% to 100.00% |
| GLMR | +1% from 6.94M GLMR to 7.00M GLMR | +1% from 10.75M GLMR to 10.88M GLMR | -0% from 64.50% to 64.37% |
| xcUSDC | -3% from 83.34K xcUSDC to 81.18K xcUSDC | -12% from 150.69K xcUSDC to 132.40K xcUSDC | +11% from 55.30% to 61.31% |
| xcUSDT | -0% from 74.22K xcUSDT to 73.93K xcUSDT | -1% from 141.53K xcUSDT to 140.58K xcUSDT | +0% from 52.44% to 52.59% |
| FRAX | +0% from 447.99 FRAX to 448.00 FRAX | -0% from 40.77K FRAX to 40.76K FRAX | +0% from 44.90% to 44.91% |
| USDC.wh | +1% from 43.66K USDC.wh to 44.23K USDC.wh | +7% from 118.29K USDC.wh to 126.68K USDC.wh | -5% from 36.91% to 34.92% |
| BTC.wh | 0% from 0.10 BTC.wh to 0.10 BTC.wh | 0% from 1.21 BTC.wh to 1.21 BTC.wh | 0% from 8.25% to 8.25% |
| ETH.wh | +0% from 1.20 ETH.wh to 1.20 ETH.wh | -1% from 37.43 ETH.wh to 37.14 ETH.wh | +1% from 3.22% to 3.24% |
Liquidations
No liquidation events this week.
Moonriver
| Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|
| xcKSM | 0.10 | 6.53M% | 42.64% |
| FRAX | 0.10 | 64.26M% | 19.62% |
| MOVR | 0.10 | 3.57M% | 2.35% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| xcKSM | +0% from 6.52K xcKSM to 6.53K xcKSM | -0% from 15.36K xcKSM to 15.30K xcKSM | +1% from 42.47% to 42.69% |
| FRAX | +0% from 64.23K FRAX to 64.29K FRAX | +0% from 327.40K FRAX to 327.47K FRAX | +0% from 19.62% to 19.63% |
| MOVR | -0% from 3.57K MOVR to 3.57K MOVR | -0% from 151.73K MOVR to 151.41K MOVR | +0% from 2.35% to 2.36% |
Liquidations
No liquidation events this week.