Weekly Update (10/17/25 - 10/23/25)
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 10/17/25 to 10/23/25. 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 | 2.94% | 3.02% | 89.70% |
| USDC | 184.00M | 200.00M | 26.42% | 27.26% | 89.19% |
| EURC | 21.00M | 21.90M | 7.56% | 9.87% | 73.54% |
| WETH | 64.00K | 96.00K | 15.49% | 15.15% | 68.03% |
| VIRTUAL | 1.50M | 4.50M | 124.34% | 71.39% | 58.23% |
| DAI | 300.00K | 400.00K | 5.27% | 7.19% | 55.03% |
| AERO | 8.00M | 70.00M | 90.86% | 33.35% | 31.14% |
| tBTC | 36.00 | 90.00 | 6.69% | 9.18% | 29.23% |
| cbXRP | 1.60M | 5.00M | 33.78% | 50.78% | 21.29% |
| LBTC | 38.00 | 95.00 | 25.09% | 53.30% | 18.82% |
| USDbC | 1.00 | 1.00 | 141.39K% | 873.85K% | 16.18% |
| cbBTC | 640.00 | 1.50K | 14.27% | 38.95% | 15.62% |
| WELL | 100.00M | 250.00M | 37.76% | 99.08% | 15.25% |
| MORPHO | 600.00K | 6.00M | 99.96% | 97.62% | 10.24% |
| MAMO | 12.00M | 20.00M | 1.82% | 11.35% | 9.60% |
| weETH | 700.00 | 5.40K | 2.20% | 3.52% | 8.10% |
| cbETH | 6.40K | 16.00K | 0.92% | 13.00% | 2.82% |
| rETH | 900.00 | 2.60K | 2.53% | 36.85% | 2.38% |
| wstETH | 4.80K | 14.40K | 1.81% | 29.81% | 2.02% |
| wrsETH | 430.00 | 1.00K | 0.00% | 11.45% | 0.02% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| USDS | +13% from 17.62K USDS to 19.95K USDS | +7% from 20.19K USDS to 21.66K USDS | +6% from 87.28% to 92.12% |
| USDC | -13% from 55.55M USDC to 48.45M USDC | -13% from 61.68M USDC to 53.78M USDC | +0% from 90.06% to 90.10% |
| EURC | -4% from 1.70M EURC to 1.63M EURC | +3% from 2.26M EURC to 2.33M EURC | -7% from 75.09% to 69.73% |
| WETH | +31% from 8.60K WETH to 11.28K WETH | +21% from 13.21K WETH to 15.97K WETH | +8% from 65.13% to 70.61% |
| VIRTUAL | -0% from 1.87M VIRTUAL to 1.87M VIRTUAL | +1% from 3.09M VIRTUAL to 3.11M VIRTUAL | -1% from 60.44% to 60.04% |
| DAI | -30% from 16.84K DAI to 11.78K DAI | -0% from 28.75K DAI to 28.71K DAI | -30% from 58.57% to 41.03% |
| AERO | -5% from 7.50M AERO to 7.10M AERO | +2% from 22.90M AERO to 23.31M AERO | -7% from 32.77% to 30.44% |
| tBTC | -0% from 2.41 tBTC to 2.40 tBTC | -15% from 9.62 tBTC to 8.15 tBTC | +18% from 25.09% to 29.49% |
| cbXRP | -6% from 567.42K cbXRP to 532.61K cbXRP | +2% from 2.53M cbXRP to 2.58M cbXRP | -8% from 22.46% to 20.63% |
| LBTC | +13% from 8.90 LBTC to 10.05 LBTC | +2% from 50.05 LBTC to 51.11 LBTC | +11% from 17.78% to 19.67% |
| USDbC | -3% from 1.45K USDbC to 1.41K USDbC | +0% from 8.74K USDbC to 8.74K USDbC | -3% from 16.60% to 16.09% |
| cbBTC | -13% from 100.95 cbBTC to 87.86 cbBTC | -7% from 609.86 cbBTC to 565.80 cbBTC | -6% from 16.55% to 15.53% |
| WELL | -24% from 38.00M WELL to 28.81M WELL | -1% from 247.32M WELL to 244.41M WELL | -23% from 15.37% to 11.79% |
| MORPHO | -0% from 600.02K MORPHO to 600.01K MORPHO | +4% from 5.70M MORPHO to 5.91M MORPHO | -3% from 10.52% to 10.16% |
| MAMO | -5% from 223.28K MAMO to 211.15K MAMO | -2% from 2.16M MAMO to 2.11M MAMO | -3% from 10.35% to 10.00% |
| weETH | +29% from 13.80 weETH to 17.80 weETH | +5% from 189.10 weETH to 198.12 weETH | +23% from 7.30% to 8.99% |
| cbETH | +7% from 56.81 cbETH to 60.68 cbETH | -1% from 2.10K cbETH to 2.07K cbETH | +8% from 2.70% to 2.93% |
| rETH | +0% from 22.80 rETH to 22.80 rETH | -0% from 958.36 rETH to 957.58 rETH | +0% from 2.38% to 2.38% |
| wstETH | +0% from 86.79 wstETH to 86.80 wstETH | +1% from 4.26K wstETH to 4.31K wstETH | -1% from 2.04% to 2.02% |
| wrsETH | 0% from 0.02 wrsETH to 0.02 wrsETH | +0% from 114.44 wrsETH to 114.64 wrsETH | -0% from 0.02% to 0.02% |
Notable Trends
- WETH supply +21% (13.21K → 15.97K WETH)
- WETH borrows +31% (8.60K → 11.28K WETH)
- USDC supply -13% (61.68M → 53.78M USDC)
- USDC borrows -13% (55.55M → 48.45M USDC)
- cbBTC supply -7% (609.86 → 565.80 cbBTC)
- cbBTC borrows -13% (100.95 → 87.86 cbBTC)
Liquidations
- Total liquidations: 91
- Total Collateral Seized (USD): $100,003.79
- Total Debt Repaid (USD): $90,912.54
- Total Liquidation Bonus (USD): $9,091.25
- Total Liquidator Bonus (USD): $6,363.88
- Total Protocol Bonus (USD): $2,727.38
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| cbBTC | 0.658683 | $68,760.04 | $62,509.13 | $6,250.91 | $4,375.64 | $1,875.27 | 13 |
| AERO | 17,063.422910 | $13,241.21 | $12,037.46 | $1,203.75 | $842.62 | $361.12 | 25 |
| USDC | 12,815.280145 | $12,813.88 | $11,648.98 | $1,164.90 | $815.43 | $349.47 | 4 |
| WETH | 0.807410 | $2,973.02 | $2,702.75 | $270.27 | $189.19 | $81.08 | 35 |
| WELL | 54,610.552000 | $975.58 | $886.89 | $88.69 | $62.08 | $26.61 | 5 |
| MORPHO | 364.105000 | $663.05 | $602.78 | $60.28 | $42.19 | $18.08 | 1 |
| EURC | 145.592000 | $169.26 | $153.88 | $15.39 | $10.77 | $4.62 | 1 |
| cbXRP | 68.138490 | $161.31 | $146.64 | $14.66 | $10.26 | $4.40 | 4 |
| VIRTUAL | 211.277900 | $149.88 | $136.25 | $13.63 | $9.54 | $4.09 | 2 |
| cbETH | 0.023476 | $96.56 | $87.78 | $8.78 | $6.14 | $2.63 | 1 |
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 | 2.56% | 2.34% | 87.30% |
| USDT | 18.40M | 22.60M | 1.99% | 1.88% | 86.51% |
| USDC | 34.00M | 36.40M | 5.67% | 6.12% | 86.38% |
| WETH | 30.00K | 32.00K | 11.42% | 13.93% | 76.86% |
| DAI | 4.50M | 4.80M | 2.86% | 3.96% | 67.70% |
| weETH | 220.00 | 1.20K | 6.25% | 5.88% | 19.46% |
| OP | 650.00K | 5.60M | 21.41% | 18.84% | 13.18% |
| wstETH | 1.50K | 5.00K | 1.86% | 6.76% | 8.27% |
| rETH | 340.00 | 750.00 | 1.28% | 8.01% | 7.25% |
| VELO | 20.00M | 80.00M | 25.00% | 90.68% | 6.90% |
| WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 4.35% |
| wrsETH | 160.00 | 400.00 | 0.39% | 5.03% | 3.06% |
| cbETH | 0.00 | 10.00 | 0.00% | 2.75% | 0.06% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| USDT0 | -3% from 209.10K USDT0 to 203.10K USDT0 | -1% from 233.83K USDT0 to 231.37K USDT0 | -2% from 89.42% to 87.78% |
| USDT | +14% from 351.18K USDT to 401.45K USDT | +16% from 404.80K USDT to 467.55K USDT | -1% from 86.75% to 85.86% |
| USDC | -17% from 2.08M USDC to 1.72M USDC | -14% from 2.38M USDC to 2.04M USDC | -4% from 87.38% to 84.02% |
| WETH | +1% from 3.41K WETH to 3.44K WETH | +2% from 4.45K WETH to 4.52K WETH | -1% from 76.67% to 75.97% |
| DAI | +0% from 128.41K DAI to 128.49K DAI | -9% from 192.76K DAI to 176.24K DAI | +9% from 66.62% to 72.91% |
| weETH | +16% from 11.10 weETH to 12.89 weETH | +23% from 61.17 weETH to 75.42 weETH | -6% from 18.14% to 17.09% |
| OP | +13% from 133.04K OP to 149.80K OP | +2% from 1.05M OP to 1.06M OP | +11% from 12.73% to 14.12% |
| wstETH | -1% from 28.08 wstETH to 27.67 wstETH | +1% from 332.48 wstETH to 335.75 wstETH | -2% from 8.45% to 8.24% |
| rETH | +0% from 4.36 rETH to 4.36 rETH | -1% from 60.41 rETH to 59.61 rETH | +1% from 7.21% to 7.31% |
| VELO | +123% from 4.39M VELO to 9.79M VELO | -5% from 75.26M VELO to 71.73M VELO | +134% from 5.83% to 13.65% |
| WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.07 WBTC to 0.07 WBTC | 0% from 4.35% to 4.35% |
| wrsETH | +0% from 0.62 wrsETH to 0.62 wrsETH | -0% from 20.12 wrsETH to 20.11 wrsETH | +0% from 3.06% to 3.06% |
| cbETH | 0% from 0.00 cbETH to 0.00 cbETH | 0% from 0.27 cbETH to 0.27 cbETH | 0% from 0.06% to 0.06% |
Notable Trends
- USDC borrows -17% (2.08M → 1.72M USDC)
- USDC supply -14% (2.38M → 2.04M USDC)
- VELO borrows +123% (4.39M → 9.79M VELO)
Liquidations
- Total liquidations: 5
- Total Collateral Seized (USD): $60.02
- Total Debt Repaid (USD): $54.57
- Total Liquidation Bonus (USD): $5.46
- Total Liquidator Bonus (USD): $3.82
- Total Protocol Bonus (USD): $1.64
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| OP | 143.484420 | $58.81 | $53.46 | $5.35 | $3.74 | $1.60 | 4 |
| WETH | 0.000320 | $1.21 | $1.10 | $0.11 | $0.08 | $0.03 | 1 |
Moonbeam
| Asset | Current Borrow Cap | Average Utilization |
|---|---|---|
| GLMR | 0.1 | 68.23% |
| FRAX | 0.1 | 46.71% |
| xcDOT | 0.1 | 44.53% |
| xcUSDC | 0.1 | 35.02% |
| xcUSDT | 0.1 | 27.03% |
| USDC.wh | 0.1 | 26.82% |
| ETH.wh | 0.1 | 3.40% |
| BTC.wh | 0.1 | 0.38% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| GLMR | +1% from 7.32M GLMR to 7.41M GLMR | +1% from 10.78M GLMR to 10.85M GLMR | +1% from 67.86% to 68.24% |
| FRAX | 0% from 262.35 FRAX to 262.35 FRAX | 0% from 38.80K FRAX to 38.80K FRAX | 0% from 46.71% to 46.71% |
| xcDOT | +0% from 20.02K xcDOT to 20.03K xcDOT | -10% from 1.26M xcDOT to 1.13M xcDOT | +12% from 42.36% to 47.28% |
| xcUSDC | -1% from 31.61K xcUSDC to 31.15K xcUSDC | +44% from 72.36K xcUSDC to 104.40K xcUSDC | -32% from 43.68% to 29.83% |
| xcUSDT | +0% from 25.40K xcUSDT to 25.42K xcUSDT | -0% from 94.21K xcUSDT to 94.00K xcUSDT | +0% from 26.96% to 27.04% |
| USDC.wh | -34% from 39.74K USDC.wh to 26.27K USDC.wh | -11% from 118.33K USDC.wh to 105.84K USDC.wh | -26% from 33.58% to 24.82% |
| ETH.wh | +0% from 1.09 ETH.wh to 1.09 ETH.wh | -7% from 33.97 ETH.wh to 31.73 ETH.wh | +7% from 3.22% to 3.45% |
| BTC.wh | +7% from 0.00 BTC.wh to 0.00 BTC.wh | -0% from 1.19 BTC.wh to 1.19 BTC.wh | +6% from 0.36% to 0.38% |
Notable Trends
- xcDOT supply -10% (1.26M → 1.13M xcDOT)
- xcUSDC supply +44% (72.36K → 104.40K xcUSDC**)
- USDC.wh borrows -34% (39.74K → 26.27K USDC.wh)
Liquidations
No liquidation events this week.
Moonriver
| Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|
| xcKSM | 0.10 | 6.55M% | 42.80% |
| FRAX | 0.10 | 51.81M% | 15.89% |
| MOVR | 0.10 | 3.57M% | 2.42% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| xcKSM | +0% from 6.55K xcKSM to 6.56K xcKSM | -0% from 15.30K xcKSM to 15.28K xcKSM | +0% from 42.81% to 42.92% |
| FRAX | -5% from 54.31K FRAX to 51.33K FRAX | +0% from 326.06K FRAX to 326.06K FRAX | -5% from 16.66% to 15.74% |
| MOVR | +0% from 3.57K MOVR to 3.57K MOVR | -1% from 148.70K MOVR to 147.20K MOVR | +1% from 2.40% to 2.42% |
Liquidations
No liquidation events this week.