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.
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% |
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% |
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% |
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% |
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 |