Weekly Update (12/5/25 - 12/11/25)
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 12/5/25 to 12/11/25. 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 | 1.02% | 1.07% | 87.40% |
| USDC | 184.00M | 200.00M | 14.05% | 16.03% | 81.27% |
| EURC | 21.00M | 21.90M | 6.21% | 8.27% | 72.13% |
| WETH | 64.00K | 96.00K | 8.72% | 8.38% | 69.09% |
| DAI | 300.00K | 400.00K | 4.35% | 5.65% | 57.75% |
| cbXRP | 1.60M | 5.00M | 86.76% | 54.07% | 51.36% |
| VIRTUAL | 10.00K | 4.50M | 19.59K% | 93.92% | 46.37% |
| AERO | 25.00M | 70.00M | 23.04% | 28.91% | 28.46% |
| MAMO | 3.00M | 20.00M | 17.60% | 11.11% | 23.75% |
| LBTC | 10.00 | 95.00 | 46.26% | 28.02% | 17.34% |
| cbBTC | 640.00 | 1.50K | 8.17% | 21.70% | 16.05% |
| weETH | 200.00 | 5.40K | 6.95% | 1.67% | 15.44% |
| tBTC | 5.00 | 90.00 | 14.09% | 5.17% | 14.79% |
| USDbC | 1.00 | 1.00 | 107.76K% | 846.28K% | 12.73% |
| cbETH | 6.40K | 16.00K | 1.59% | 8.18% | 7.77% |
| WELL | 10.00M | 250.00M | 143.83% | 79.86% | 7.20% |
| wstETH | 4.80K | 14.40K | 3.30% | 26.74% | 4.11% |
| MORPHO | 100.00K | 6.00M | 220.47% | 89.41% | 4.11% |
| rETH | 200.00 | 2.60K | 10.44% | 31.20% | 2.57% |
| wrsETH | 0.00 | 1.00 | 0.00% | 8.85K% | 0.02% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| USDS | -1% from 7.02K USDS to 6.98K USDS | +14% from 7.66K USDS to 8.74K USDS | -13% from 91.67% to 79.82% |
| USDC | +1% from 25.67M USDC to 25.89M USDC | -2% from 32.59M USDC to 31.95M USDC | +3% from 78.77% to 81.04% |
| EURC | +0% from 1.31M EURC to 1.31M EURC | +2% from 1.72M EURC to 1.76M EURC | -2% from 75.85% to 74.14% |
| WETH | -10% from 6.86K WETH to 6.18K WETH | -11% from 9.69K WETH to 8.61K WETH | +1% from 70.82% to 71.79% |
| DAI | +0% from 13.04K DAI to 13.07K DAI | -0% from 22.60K DAI to 22.58K DAI | +0% from 57.71% to 57.88% |
| cbXRP | -8% from 1.47M cbXRP to 1.35M cbXRP | +2% from 2.69M cbXRP to 2.76M cbXRP | -10% from 54.49% to 49.02% |
| VIRTUAL | +0% from 1.96M VIRTUAL to 1.96M VIRTUAL | +5% from 4.07M VIRTUAL to 4.28M VIRTUAL | -5% from 48.11% to 45.83% |
| AERO | +13% from 5.61M AERO to 6.37M AERO | +4% from 19.94M AERO to 20.70M AERO | +9% from 28.15% to 30.77% |
| MAMO | -33% from 446.81K MAMO to 297.93K MAMO | +6% from 2.16M MAMO to 2.28M MAMO | -37% from 20.69% to 13.07% |
| LBTC | -39% from 5.80 LBTC to 3.52 LBTC | +0% from 27.54 LBTC to 27.57 LBTC | -39% from 21.08% to 12.75% |
| cbBTC | -7% from 56.46 cbBTC to 52.41 cbBTC | -1% from 325.44 cbBTC to 322.04 cbBTC | -6% from 17.35% to 16.27% |
| weETH | -0% from 13.95 weETH to 13.94 weETH | -3% from 89.59 weETH to 86.84 weETH | +3% from 15.57% to 16.06% |
| tBTC | -26% from 1.13 tBTC to 0.84 tBTC | -6% from 5.04 tBTC to 4.74 tBTC | -22% from 22.53% to 17.64% |
| USDbC | +0% from 1.08K USDbC to 1.08K USDbC | -0% from 8.46K USDbC to 8.46K USDbC | +0% from 12.73% to 12.74% |
| cbETH | +11% from 98.00 cbETH to 108.90 cbETH | -0% from 1.31K cbETH to 1.30K cbETH | +12% from 7.48% to 8.35% |
| WELL | -1% from 14.48M WELL to 14.34M WELL | +0% from 199.37M WELL to 200.12M WELL | -1% from 7.26% to 7.16% |
| wstETH | +1% from 156.98 wstETH to 158.66 wstETH | +0% from 3.85K wstETH to 3.86K wstETH | +1% from 4.07% to 4.11% |
| MORPHO | -0% from 220.70K MORPHO to 220.22K MORPHO | -0% from 5.37M MORPHO to 5.36M MORPHO | -0% from 4.11% to 4.11% |
| rETH | +0% from 20.83 rETH to 20.90 rETH | -0% from 811.15 rETH to 811.14 rETH | +0% from 2.57% to 2.58% |
| wrsETH | 0% from 0.02 wrsETH to 0.02 wrsETH | -2% from 90.69 wrsETH to 88.48 wrsETH | +2% from 0.02% to 0.02% |
Notable Trends
- WETH supply -11% (9.69K → 8.61K WETH)
- AERO borrows +13% (5.61M → 6.37M AERO)
- AERO supply +4% (19.94M → 20.70M AERO)
Liquidations
- Total liquidations: 40
- Total Collateral Seized (USD): $3,203.43
- Total Debt Repaid (USD): $2,912.21
- Total Liquidation Bonus (USD): $291.22
- Total Liquidator Bonus (USD): $203.85
- Total Protocol Bonus (USD): $87.37
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| USDC | 2,946.537416 | $2,946.00 | $2,678.18 | $267.82 | $187.47 | $80.35 | 3 |
| MORPHO | 102.322783 | $128.93 | $117.21 | $11.72 | $8.20 | $3.52 | 3 |
| AERO | 85.444970 | $56.14 | $51.03 | $5.10 | $3.57 | $1.53 | 6 |
| WETH | 0.009379 | $30.66 | $27.87 | $2.79 | $1.95 | $0.84 | 24 |
| cbBTC | 0.000202 | $18.97 | $17.24 | $1.72 | $1.21 | $0.52 | 2 |
| weETH | 0.004975 | $17.91 | $16.28 | $1.63 | $1.14 | $0.49 | 1 |
| EURC | 4.152440 | $4.83 | $4.39 | $0.44 | $0.31 | $0.13 | 1 |
Optimism
| Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|---|---|
| DAI | 4.50M | 4.80M | 0.87% | 1.25% | 65.16% |
| USDC | 34.00M | 36.40M | 1.88% | 2.76% | 62.70% |
| WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 61.62% |
| USDT0 | 8.00M | 10.00M | 0.86% | 1.13% | 60.97% |
| WETH | 30.00K | 32.00K | 3.51% | 5.06% | 50.56% |
| cbETH | 0.00 | 10.00 | 0.00% | 2.74% | 36.67% |
| USDT | 18.40M | 22.60M | 0.52% | 1.19% | 35.40% |
| OP | 650.00K | 5.60M | 52.20% | 17.44% | 34.75% |
| VELO | 20.00M | 80.00M | 44.57% | 57.33% | 19.44% |
| rETH | 340.00 | 750.00 | 0.81% | 3.48% | 10.47% |
| wstETH | 1.50K | 5.00K | 0.51% | 2.86% | 5.16% |
| weETH | 4.00 | 10.00 | 32.00% | 467.08% | 2.74% |
| wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.81% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| DAI | -1% from 39.05K DAI to 38.75K DAI | +0% from 59.79K DAI to 59.83K DAI | -1% from 65.32% to 64.77% |
| USDC | -11% from 780.81K USDC to 691.10K USDC | -10% from 1.15M USDC to 1.03M USDC | -1% from 68.16% to 67.33% |
| 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 | -7% from 73.88K USDT0 to 68.67K USDT0 | +1% from 113.18K USDT0 to 114.08K USDT0 | -8% from 65.28% to 60.19% |
| WETH | -10% from 2.35K WETH to 2.13K WETH | -6% from 2.98K WETH to 2.80K WETH | -4% from 78.96% to 75.94% |
| cbETH | +0% from 0.10 cbETH to 0.10 cbETH | -0% from 0.27 cbETH to 0.27 cbETH | +0% from 36.64% to 36.79% |
| USDT | -4% from 92.80K USDT to 89.38K USDT | -7% from 268.75K USDT to 248.71K USDT | +4% from 34.53% to 35.94% |
| OP | +19% from 299.96K OP to 356.62K OP | -1% from 974.67K OP to 968.11K OP | +20% from 30.78% to 36.84% |
| VELO | +2% from 9.00M VELO to 9.17M VELO | -2% from 46.87M VELO to 45.71M VELO | +4% from 19.21% to 20.07% |
| rETH | -45% from 4.46 rETH to 2.46 rETH | -8% from 28.03 rETH to 25.74 rETH | -40% from 15.93% to 9.57% |
| wstETH | -61% from 14.91 wstETH to 5.77 wstETH | +6% from 151.60 wstETH to 160.50 wstETH | -63% from 9.83% to 3.59% |
| weETH | -32% from 1.58 weETH to 1.08 weETH | -1% from 47.01 weETH to 46.51 weETH | -31% from 3.36% to 2.33% |
| wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | -5% from 16.01 wrsETH to 15.14 wrsETH | +6% from 1.73% to 1.83% |
Notable Trends
- WETH borrows -10% (2.35K → 2.13K WETH)
- WETH supply -6% (2.98K → 2.80K WETH)
- USDC supply -10% (1.15M → 1.03M USDC)
- USDC borrows -11% (780.81K → 691.10K USDC)
- wstETH supply +6% (151.60 → 160.50 wstETH)
Liquidations
- Total liquidations: 4
- Total Collateral Seized (USD): $12.70
- Total Debt Repaid (USD): $11.54
- Total Liquidation Bonus (USD): $1.15
- Total Liquidator Bonus (USD): $0.81
- Total Protocol Bonus (USD): $0.35
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| VELO | 401.746000 | $10.92 | $9.93 | $0.99 | $0.70 | $0.30 | 1 |
| USDT0 | 1.776274 | $1.78 | $1.61 | $0.16 | $0.11 | $0.05 | 3 |
Moonbeam
| Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|
| GLMR | 0.10 | 8079.46M% | 71.05% |
| xcDOT | 0.10 | 19.61M% | 48.13% |
| FRAX | 0.10 | 194.51K% | 46.60% |
| xcUSDC | 0.10 | 24.30M% | 42.71% |
| xcUSDT | 0.10 | 21.73M% | 26.86% |
| USDC.wh | 0.10 | 18.84M% | 19.04% |
| BTC.wh | 0.10 | 93.00% | 7.82% |
| ETH.wh | 0.10 | 1.10K% | 3.84% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| GLMR | +2% from 8.01M GLMR to 8.15M GLMR | -1% from 11.52M GLMR to 11.46M GLMR | +2% from 69.56% to 71.14% |
| xcDOT | -0% from 19.61K xcDOT to 19.61K xcDOT | -1% from 1.11M xcDOT to 1.10M xcDOT | +1% from 47.88% to 48.25% |
| FRAX | +0% from 194.50 FRAX to 194.51 FRAX | -0% from 38.75K FRAX to 38.71K FRAX | +0% from 46.58% to 46.64% |
| xcUSDC | +0% from 24.28K xcUSDC to 24.31K xcUSDC | -3% from 57.67K xcUSDC to 56.02K xcUSDC | +3% from 42.11% to 43.40% |
| xcUSDT | -9% from 22.63K xcUSDT to 20.64K xcUSDT | +0% from 80.88K xcUSDT to 80.88K xcUSDT | -9% from 27.98% to 25.52% |
| USDC.wh | -16% from 20.40K USDC.wh to 17.20K USDC.wh | -1% from 99.60K USDC.wh to 98.60K USDC.wh | -15% from 20.48% to 17.45% |
| 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 | -7% from 29.61 ETH.wh to 27.58 ETH.wh | +7% from 3.71% to 3.98% |
Liquidations
- Total liquidations: 12
- Total Collateral Seized (USD): $11.03
- Total Debt Repaid (USD): $10.03
- Total Liquidation Bonus (USD): $1.00
- Total Liquidator Bonus (USD): $0.70
- Total Protocol Bonus (USD): $0.30
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| xcDOT | 3.169441 | $6.63 | $6.03 | $0.60 | $0.42 | $0.18 | 8 |
| FRAX | 2.153660 | $2.14 | $1.95 | $0.19 | $0.14 | $0.06 | 1 |
| xcUSDT | 2.048360 | $2.05 | $1.86 | $0.19 | $0.13 | $0.06 | 1 |
| GLMR | 6.500139 | $0.21 | $0.19 | $0.02 | $0.01 | $0.01 | 2 |
Moonriver
| Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|
| xcKSM | 0.10 | 6.49M% | 48.02% |
| FRAX | 0.10 | 50.59M% | 16.06% |
| MOVR | 0.10 | 2.76M% | 2.05% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| xcKSM | +0% from 6.49K xcKSM to 6.51K xcKSM | -0% from 13.52K xcKSM to 13.50K xcKSM | +0% from 47.98% to 48.19% |
| FRAX | -0% from 50.65K FRAX to 50.59K FRAX | -6% from 322.16K FRAX to 303.16K FRAX | +6% from 15.72% to 16.69% |
| MOVR | -1% from 2.76K MOVR to 2.73K MOVR | -1% from 135.00K MOVR to 134.31K MOVR | -0% from 2.04% to 2.03% |
Liquidations
- Total liquidations: 6
- Total Collateral Seized (USD): $64.27
- Total Debt Repaid (USD): $58.43
- Total Liquidation Bonus (USD): $5.84
- Total Liquidator Bonus (USD): $4.09
- Total Protocol Bonus (USD): $1.75
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| MOVR | 19.950320 | $56.20 | $51.09 | $5.11 | $3.58 | $1.53 | 2 |
| xcKSM | 0.996818 | $8.08 | $7.34 | $0.73 | $0.51 | $0.22 | 4 |
Additional Information
As a reminder, Moonwell is deprecating the Moonriver markets this month by gradually reducing collateral factors. This may cause users with existing positions to get liquidated. We released a list of addresses likely to be affected by the upcoming proposal here, please check if your address is in this list and close your outstanding positions on Moonriver.