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.
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% |
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% |
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% |
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% |
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 |