Weekly Update (12/19/25 - 12/25/25)
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 12/19/25 to 12/25/25. 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 | 1.07% | 1.24% | 79.42% |
| USDC | 184.00M | 200.00M | 13.95% | 16.26% | 78.94% |
| WETH | 64.00K | 96.00K | 8.71% | 7.82% | 74.22% |
| EURC | 21.00M | 21.90M | 5.85% | 8.45% | 66.66% |
| cbXRP | 1.60M | 5.00M | 94.82% | 57.12% | 53.12% |
| DAI | 300.00K | 400.00K | 3.98% | 5.64% | 52.87% |
| VIRTUAL | 10.00K | 4.50M | 19.65K% | 96.58% | 45.21% |
| AERO | 25.00M | 70.00M | 25.35% | 28.80% | 31.44% |
| cbBTC | 640.00 | 1.50K | 8.05% | 21.13% | 16.26% |
| weETH | 200.00 | 5.40K | 6.47% | 1.65% | 14.52% |
| tBTC | 5.00 | 90.00 | 12.74% | 5.10% | 13.89% |
| USDbC | 1.00 | 1.00 | 104.22K% | 844.16K% | 12.35% |
| MAMO | 3.00M | 20.00M | 11.42% | 15.19% | 11.34% |
| LBTC | 10.00 | 95.00 | 32.02% | 31.10% | 10.84% |
| cbETH | 6.40K | 16.00K | 1.71% | 7.87% | 8.71% |
| WELL | 10.00M | 250.00M | 118.95% | 77.43% | 6.15% |
| MORPHO | 100.00K | 6.00M | 220.15% | 90.56% | 4.06% |
| wstETH | 4.80K | 14.40K | 3.11% | 26.54% | 3.90% |
| rETH | 200.00 | 2.60K | 10.43% | 31.58% | 2.54% |
| wrsETH | 0.00 | 1.00 | 0.00% | 8.37K% | 0.02% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| USDS | +1% from 7.89K USDS to 7.95K USDS | +1% from 9.22K USDS to 9.33K USDS | -0% from 85.51% to 85.24% |
| USDC | +1% from 25.68M USDC to 25.82M USDC | -1% from 32.85M USDC to 32.58M USDC | +1% from 78.18% to 79.24% |
| WETH | -5% from 5.75K WETH to 5.45K WETH | -4% from 7.74K WETH to 7.43K WETH | -1% from 74.35% to 73.32% |
| EURC | -1% from 1.24M EURC to 1.23M EURC | +1% from 1.76M EURC to 1.77M EURC | -1% from 70.38% to 69.42% |
| cbXRP | +6% from 1.50M cbXRP to 1.60M cbXRP | +1% from 2.84M cbXRP to 2.88M cbXRP | +5% from 52.89% to 55.61% |
| DAI | +7% from 11.34K DAI to 12.13K DAI | +0% from 22.56K DAI to 22.58K DAI | +7% from 50.26% to 53.69% |
| VIRTUAL | +0% from 1.96M VIRTUAL to 1.97M VIRTUAL | +0% from 4.32M VIRTUAL to 4.33M VIRTUAL | -0% from 45.40% to 45.39% |
| AERO | -9% from 6.68M AERO to 6.11M AERO | +0% from 20.25M AERO to 20.28M AERO | -9% from 32.98% to 30.11% |
| cbBTC | -6% from 53.02 cbBTC to 49.79 cbBTC | -1% from 319.13 cbBTC to 315.83 cbBTC | -5% from 16.61% to 15.76% |
| weETH | +0% from 12.95 weETH to 12.95 weETH | -0% from 89.19 weETH to 89.18 weETH | +0% from 14.52% to 14.52% |
| tBTC | +0% from 0.64 tBTC to 0.64 tBTC | -2% from 4.62 tBTC to 4.52 tBTC | +2% from 13.78% to 14.09% |
| USDbC | -3% from 1.08K USDbC to 1.04K USDbC | -0% from 8.44K USDbC to 8.44K USDbC | -3% from 12.75% to 12.32% |
| MAMO | -29% from 399.88K MAMO to 285.37K MAMO | +6% from 2.92M MAMO to 3.11M MAMO | -33% from 13.68% to 9.17% |
| LBTC | +3% from 3.15 LBTC to 3.24 LBTC | +1% from 29.12 LBTC to 29.29 LBTC | +2% from 10.83% to 11.07% |
| cbETH | +1% from 108.92 cbETH to 109.66 cbETH | +0% from 1.26K cbETH to 1.26K cbETH | +1% from 8.66% to 8.72% |
| WELL | -0% from 11.91M WELL to 11.89M WELL | -3% from 199.53M WELL to 194.24M WELL | +3% from 5.97% to 6.12% |
| MORPHO | -0% from 220.17K MORPHO to 220.15K MORPHO | +12% from 5.27M MORPHO to 5.92M MORPHO | -11% from 4.18% to 3.72% |
| wstETH | -0% from 149.36 wstETH to 149.11 wstETH | +3% from 3.77K wstETH to 3.88K wstETH | -3% from 3.96% to 3.84% |
| rETH | -0% from 20.89 rETH to 20.82 rETH | +1% from 815.99 rETH to 824.18 rETH | -1% from 2.56% to 2.53% |
| wrsETH | 0% from 0.01 wrsETH to 0.01 wrsETH | -1% from 84.38 wrsETH to 83.38 wrsETH | +1% from 0.02% to 0.02% |
Notable Trends
- MORPHO supply +12% (5.27M → 5.92M MORPHO)
Liquidations
- Total liquidations: 49
- Total Collateral Seized (USD): $66,710.94
- Total Debt Repaid (USD): $60,646.31
- Total Liquidation Bonus (USD): $6,064.63
- Total Liquidator Bonus (USD): $4,245.24
- Total Protocol Bonus (USD): $1,819.39
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| WELL | 7,550,771.196000 | $59,630.79 | $54,209.81 | $5,420.98 | $3,794.69 | $1,626.29 | 11 |
| USDC | 4,104.339750 | $4,103.53 | $3,730.49 | $373.05 | $261.13 | $111.91 | 6 |
| AERO | 5,529.293620 | $2,572.81 | $2,338.92 | $233.89 | $163.72 | $70.17 | 13 |
| cbXRP | 138.822010 | $247.34 | $224.85 | $22.49 | $15.74 | $6.75 | 2 |
| WETH | 0.048694 | $144.37 | $131.25 | $13.12 | $9.19 | $3.94 | 14 |
| cbETH | 0.002681 | $9.06 | $8.24 | $0.82 | $0.58 | $0.25 | 1 |
| EURC | 2.581330 | $3.02 | $2.75 | $0.27 | $0.19 | $0.08 | 2 |
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 | 7.61% | 8.94% | 79.72% |
| USDT | 18.40M | 22.60M | 0.63% | 0.70% | 73.34% |
| DAI | 4.50M | 4.80M | 0.86% | 1.24% | 64.47% |
| USDT0 | 8.00M | 10.00M | 0.86% | 1.11% | 61.99% |
| WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 61.62% |
| USDC | 34.00M | 36.40M | 1.45% | 2.63% | 51.24% |
| cbETH | 0.00 | 10.00 | 0.00% | 2.73% | 36.79% |
| OP | 650.00K | 5.60M | 54.29% | 17.60% | 35.81% |
| VELO | 20.00M | 80.00M | 46.49% | 47.80% | 24.32% |
| rETH | 340.00 | 750.00 | 0.72% | 2.92% | 11.27% |
| wstETH | 1.50K | 5.00K | 0.38% | 3.43% | 3.33% |
| weETH | 4.00 | 10.00 | 27.04% | 462.73% | 2.34% |
| wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.83% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| WETH | -1% from 2.29K WETH to 2.27K WETH | -0% from 2.86K WETH to 2.86K WETH | -1% from 80.16% to 79.38% |
| USDT | -27% from 138.95K USDT to 101.44K USDT | -20% from 176.61K USDT to 140.96K USDT | -9% from 78.68% to 71.97% |
| DAI | +0% from 38.49K DAI to 38.52K DAI | +0% from 59.70K DAI to 59.74K DAI | +0% from 64.47% to 64.48% |
| USDT0 | +0% from 68.69K USDT0 to 68.74K USDT0 | -1% from 111.25K USDT0 to 110.53K USDT0 | +1% from 61.74% to 62.20% |
| 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% |
| USDC | -29% from 612.62K USDC to 437.26K USDC | -16% from 1.05M USDC to 884.95K USDC | -15% from 58.13% to 49.41% |
| cbETH | 0% from 0.10 cbETH to 0.10 cbETH | 0% from 0.27 cbETH to 0.27 cbETH | 0% from 36.79% to 36.79% |
| OP | +4% from 347.20K OP to 362.24K OP | +1% from 982.54K OP to 994.35K OP | +3% from 35.34% to 36.43% |
| VELO | -5% from 9.70M VELO to 9.23M VELO | -7% from 40.71M VELO to 37.89M VELO | +2% from 23.84% to 24.36% |
| rETH | 0% from 2.46 rETH to 2.46 rETH | 0% from 21.86 rETH to 21.86 rETH | 0% from 11.27% to 11.27% |
| wstETH | -3% from 5.76 wstETH to 5.59 wstETH | -4% from 173.18 wstETH to 166.80 wstETH | +1% from 3.33% to 3.35% |
| weETH | -0% from 1.08 weETH to 1.08 weETH | -1% from 46.51 weETH to 46.12 weETH | +1% from 2.33% to 2.34% |
| wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | 0% from 15.14 wrsETH to 15.14 wrsETH | 0% from 1.83% to 1.83% |
Notable Trends
- USDC borrows -29% (612.62K → 437.26K USDC)
- USDC supply -16% (1.05M → 884.95K USDC)
Liquidations
No liquidation events this week.
Moonbeam
| Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|
| GLMR | 0.10 | 8360.53M% | 69.73% |
| xcDOT | 0.10 | 19.62M% | 48.21% |
| FRAX | 0.10 | 194.27K% | 46.64% |
| xcUSDC | 0.10 | 17.54M% | 31.82% |
| xcUSDT | 0.10 | 19.03M% | 23.52% |
| USDC.wh | 0.10 | 15.15M% | 15.37% |
| BTC.wh | 0.10 | 97.87% | 8.23% |
| ETH.wh | 0.10 | 1.09K% | 3.96% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| GLMR | +2% from 8.30M GLMR to 8.43M GLMR | +1% from 11.94M GLMR to 12.05M GLMR | +1% from 69.48% to 69.93% |
| xcDOT | +0% from 19.62K xcDOT to 19.62K xcDOT | +0% from 1.10M xcDOT to 1.11M xcDOT | -0% from 48.25% to 48.21% |
| FRAX | 0% from 194.27 FRAX to 194.27 FRAX | 0% from 38.71K FRAX to 38.71K FRAX | 0% from 46.64% to 46.64% |
| xcUSDC | -1% from 17.73K xcUSDC to 17.51K xcUSDC | +0% from 55.15K xcUSDC to 55.20K xcUSDC | -1% from 32.15% to 31.71% |
| xcUSDT | -2% from 19.34K xcUSDT to 19.02K xcUSDT | -0% from 80.90K xcUSDT to 80.89K xcUSDT | -2% from 23.91% to 23.51% |
| USDC.wh | -3% from 15.43K USDC.wh to 14.92K USDC.wh | +0% from 98.52K USDC.wh to 98.54K USDC.wh | -3% from 15.66% to 15.14% |
| BTC.wh | +7% from 0.09 BTC.wh to 0.10 BTC.wh | +0% from 1.19 BTC.wh to 1.19 BTC.wh | +7% from 7.82% to 8.40% |
| ETH.wh | -1% from 1.10 ETH.wh to 1.09 ETH.wh | -0% from 27.58 ETH.wh to 27.56 ETH.wh | -1% from 3.99% to 3.96% |
Liquidations
- Total liquidations: 42
- Total Collateral Seized (USD): $381.37
- Total Debt Repaid (USD): $346.70
- Total Liquidation Bonus (USD): $34.67
- Total Liquidator Bonus (USD): $24.27
- Total Protocol Bonus (USD): $10.40
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| xcDOT | 207.113232 | $355.74 | $323.40 | $32.34 | $22.64 | $9.70 | 31 |
| GLMR | 1,102.142580 | $25.47 | $23.15 | $2.32 | $1.62 | $0.69 | 10 |
| BTC_wh | 0.000002 | $0.16 | $0.15 | $0.01 | $0.01 | $0.00 | 1 |
Moonriver
| Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|
| xcKSM | 0.10 | 5.71M% | 45.69% |
| FRAX | 0.10 | 48.85M% | 17.33% |
| MOVR | 0.10 | 1.59M% | 1.22% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| xcKSM | -13% from 6.39K xcKSM to 5.59K xcKSM | -7% from 13.22K xcKSM to 12.35K xcKSM | -7% from 48.36% to 45.21% |
| FRAX | -2% from 49.82K FRAX to 48.87K FRAX | -1% from 283.72K FRAX to 281.12K FRAX | -1% from 17.56% to 17.39% |
| MOVR | -42% from 2.38K MOVR to 1.39K MOVR | -1% from 132.35K MOVR to 130.48K MOVR | -41% from 1.80% to 1.07% |
Liquidations
- Total liquidations: 136
- Total Collateral Seized (USD): $10,682.20
- Total Debt Repaid (USD): $9,711.09
- Total Liquidation Bonus (USD): $971.11
- Total Liquidator Bonus (USD): $679.78
- Total Protocol Bonus (USD): $291.33
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| xcKSM | 881.587235 | $6,270.57 | $5,700.51 | $570.05 | $399.04 | $171.02 | 32 |
| MOVR | 1,551.816810 | $3,867.23 | $3,515.67 | $351.57 | $246.10 | $105.47 | 94 |
| FRAX | 548.694970 | $544.41 | $494.92 | $49.49 | $34.64 | $14.85 | 10 |