[Anthias Labs] Weekly Market Updates

Weekly Update (1/16/26 - 1/22/26)

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 1/16/26 to 1/22/26. 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
WETH 64.00K 96.00K 8.93% 7.23% 82.41%
USDS 690.00K 750.00K 1.13% 1.31% 79.41%
EURC 21.00M 21.90M 5.68% 7.21% 75.84%
USDC 184.00M 200.00M 13.95% 17.91% 71.72%
VIRTUAL 10.00K 4.50M 19.86K% 89.10% 49.53%
cbXRP 1.60M 5.00M 100.07% 64.82% 49.41%
DAI 300.00K 400.00K 3.76% 5.71% 49.35%
AERO 25.00M 70.00M 22.03% 28.69% 27.43%
cbETH 1.00K 16.00K 20.46% 8.47% 15.07%
MAMO 3.00M 20.00M 14.29% 14.68% 14.62%
cbBTC 640.00 1.50K 7.03% 21.35% 14.05%
tBTC 5.00 50.00 12.48% 9.05% 13.78%
weETH 200.00 5.40K 5.97% 1.65% 13.38%
LBTC 10.00 95.00 42.86% 35.29% 12.79%
WELL 22.00M 250.00M 100.00% 81.63% 10.78%
wstETH 1.20K 14.40K 12.32% 26.64% 3.85%
MORPHO 100.00K 6.00M 219.75% 97.02% 3.78%
rETH 200.00 2.60K 10.45% 31.16% 2.58%
wrsETH 0.10 1.00 0.00% 5.55K% 0.03%

Week-over-Week Changes

Asset Total Borrow Total Supply Utilization
WETH -12% from 6.06K WETH to 5.32K WETH -12% from 7.34K WETH to 6.44K WETH -0% from 82.59% to 82.56%
USDS -11% from 8.08K USDS to 7.19K USDS -6% from 9.88K USDS to 9.27K USDS -5% from 81.79% to 77.57%
EURC -1% from 1.19M EURC to 1.17M EURC -17% from 1.73M EURC to 1.44M EURC +19% from 68.67% to 81.79%
USDC -1% from 25.76M USDC to 25.52M USDC +10% from 34.00M USDC to 37.24M USDC -10% from 75.76% to 68.51%
VIRTUAL +0% from 1.98M VIRTUAL to 1.99M VIRTUAL +3% from 3.89M VIRTUAL to 4.02M VIRTUAL -3% from 51.00% to 49.44%
cbXRP -0% from 1.60M cbXRP to 1.60M cbXRP +0% from 3.24M cbXRP to 3.24M cbXRP -0% from 49.48% to 49.34%
DAI +1% from 12.00K DAI to 12.17K DAI -0% from 22.84K DAI to 22.80K DAI +2% from 52.54% to 53.37%
AERO +6% from 5.21M AERO to 5.50M AERO -1% from 20.20M AERO to 20.00M AERO +7% from 25.79% to 27.49%
cbETH +73% from 138.12 cbETH to 238.79 cbETH +3% from 1.33K cbETH to 1.37K cbETH +68% from 10.36% to 17.40%
MAMO +14% from 417.49K MAMO to 477.60K MAMO -1% from 2.90M MAMO to 2.88M MAMO +15% from 14.38% to 16.57%
cbBTC -2% from 43.30 cbBTC to 42.54 cbBTC +5% from 302.57 cbBTC to 316.30 cbBTC -6% from 14.31% to 13.45%
tBTC -0% from 0.62 tBTC to 0.62 tBTC -0% from 4.52 tBTC to 4.52 tBTC -0% from 13.81% to 13.76%
weETH -0% from 11.95 weETH to 11.94 weETH -3% from 89.59 weETH to 87.06 weETH +3% from 13.34% to 13.72%
LBTC -10% from 4.30 LBTC to 3.89 LBTC -1% from 33.56 LBTC to 33.14 LBTC -8% from 12.83% to 11.74%
WELL +0% from 22.00M WELL to 22.00M WELL -3% from 206.92M WELL to 201.49M WELL +3% from 10.63% to 10.92%
wstETH +0% from 147.86 wstETH to 147.88 wstETH +0% from 3.84K wstETH to 3.84K wstETH -0% from 3.85% to 3.85%
MORPHO -0% from 219.88K MORPHO to 219.63K MORPHO -3% from 5.98M MORPHO to 5.78M MORPHO +3% from 3.68% to 3.80%
rETH +0% from 20.89 rETH to 20.90 rETH +0% from 810.04 rETH to 810.17 rETH +0% from 2.58% to 2.58%
wrsETH 0% from 0.01 wrsETH to 0.01 wrsETH 0% from 55.48 wrsETH to 55.48 wrsETH 0% from 0.03% to 0.03%

Notable Trends

  • USDC supply +10% (34.00M → 37.24M USDC)
  • WETH supply -12% (7.34K → 6.44K WETH)
  • cbETH borrows +73% (138.12 → 238.79 cbETH)
  • EURC supply -17% (1.73M → 1.44M EURC)

Liquidations

  • Total liquidations: 80
  • Total Collateral Seized (USD): $199,975.27
  • Total Debt Repaid (USD): $181,795.70
  • Total Liquidation Bonus (USD): $18,179.57
  • Total Liquidator Bonus (USD): $12,725.70
  • Total Protocol Bonus (USD): $5,453.87
Asset Total Seized (Tokens) Total Seized (USD) Debt Repaid (USD) Liquidation Bonus (USD) Liquidator Bonus (USD) Protocol Bonus (USD) Liquidation Count
cbXRP 77,722.992740 $145,061.74 $131,874.31 $13,187.43 $9,231.20 $3,956.23 8
AERO 59,883.343514 $28,796.28 $26,178.44 $2,617.84 $1,832.49 $785.35 21
cbETH 2.624190 $9,103.92 $8,276.29 $827.63 $579.34 $248.29 1
WELL 827,361.720000 $5,871.65 $5,337.86 $533.79 $373.65 $160.14 4
WETH 1.574354 $4,789.49 $4,354.08 $435.41 $304.79 $130.62 24
VIRTUAL 3,980.085430 $3,396.48 $3,087.71 $308.77 $216.14 $92.63 3
cbBTC 0.024145 $2,134.99 $1,940.90 $194.09 $135.86 $58.23 3
EURC 691.740000 $802.12 $729.20 $72.92 $51.04 $21.88 1
USDC 18.592262 $18.59 $16.90 $1.69 $1.18 $0.51 14
wstETH 0.000000 $0.00 $0.00 $0.00 $0.00 $0.00 1

Reserves & Bad Debt

Asset Total Reserves (tokens) Total Reserves (USD) Bad Debt (tokens) Bad Debt (USD)
AERO 173711.8904 $85,118.83 462929.994 $223,331.83
cbBTC 0.4707 $42,279.94 0.1471 $13,160.30
cbETH 10.7117 $35,781.73 47.9025 $159,331.70
cbXRP 501881.8535 $975,658.32 1236815.976 $2,376,665.23
DAI 1839.1511 $1,839.15 0 $0.00
EURC 23843.7116 $27,825.61 155890.3932 $182,736.64
LBTC 0.2016 $18,157.85 0 $0.00
MAMO 4151.0579 $87.17 0 $0.00
MORPHO 14285.9813 $17,057.46 119282.7378 $141,684.05
rETH 2.9436 $10,141.27 0.0005 $1.69
tBTC 0.0747 $6,707.15 0.0121 $1,077.27
USDC 112839.2579 $112,839.26 80846.0147 $80,902.65
USDS 133.1609 $133.16 0 $0.00
VIRTUAL 872491.8101 $733,765.61 1957497.797 $1,617,872.00
weETH 6.0142 $19,470.79 0.0033 $10.68
WELL 2522523.332 $17,657.66 0 $0.00
WETH 49.5635 $147,733.43 0.2255 $670.09
wrsETH 0.8118 $2,572.81 0.0003 $1.06
wstETH 6.6459 $24,258.94 81.8354 $297,534.19
Total: $2,279,086.13 Total: $5,094,979.38

OP Mainnet

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 1.75% 1.85% 88.72%
WETH 30.00K 32.00K 3.87% 5.11% 71.04%
USDT 18.40M 22.60M 0.45% 0.56% 66.37%
USDT0 8.00M 10.00M 0.74% 0.98% 62.14%
USDC 34.00M 36.40M 1.69% 2.57% 61.16%
cbETH 0.00 0.00 0.00% 0.00% 42.86%
WBTC 0.00 0.00 0.00% 0.00% 20.17%
OP 650.00K 5.60M 29.84% 17.43% 19.87%
VELO 20.00M 80.00M 32.13% 45.82% 17.54%
rETH 150.00 750.00 1.64% 2.43% 13.52%
wstETH 300.00 5.00K 2.40% 3.08% 4.67%
weETH 4.00 10.00 27.02% 427.26% 2.53%
wrsETH 0.00 0.00 0.00% 0.00% 1.83%

Week-over-Week Changes

Asset Total Borrow Total Supply Utilization
DAI +12% from 78.02K DAI to 87.59K DAI +13% from 86.95K DAI to 98.46K DAI -1% from 89.73% to 88.97%
WETH -0% from 1.16K WETH to 1.16K WETH +0% from 1.63K WETH to 1.64K WETH -1% from 71.20% to 70.80%
USDT +86% from 71.45K USDT to 133.12K USDT +39% from 125.25K USDT to 174.33K USDT +34% from 57.05% to 76.36%
USDT0 +0% from 58.89K USDT0 to 59.08K USDT0 -37% from 104.10K USDT0 to 65.37K USDT0 +60% from 56.57% to 90.38%
USDC +0% from 640.87K USDC to 641.65K USDC -9% from 989.68K USDC to 896.87K USDC +10% from 64.76% to 71.54%
cbETH +1% from 0.10 cbETH to 0.10 cbETH -63% from 0.27 cbETH to 0.10 cbETH +170% from 36.79% to 99.41%
WBTC 0% from 0.00 WBTC to 0.00 WBTC 0% from 0.01 WBTC to 0.01 WBTC 0% from 20.17% to 20.17%
OP +23% from 183.92K OP to 225.44K OP +2% from 973.63K OP to 991.22K OP +20% from 18.89% to 22.74%
VELO -47% from 5.98M VELO to 3.15M VELO -1% from 36.74M VELO to 36.49M VELO -47% from 16.26% to 8.63%
rETH +0% from 2.47 rETH to 2.47 rETH -0% from 18.25 rETH to 18.24 rETH +0% from 13.51% to 13.52%
wstETH +0% from 7.19 wstETH to 7.19 wstETH +8% from 155.16 wstETH to 167.49 wstETH -7% from 4.63% to 4.29%
weETH +0% from 1.08 weETH to 1.08 weETH -0% from 42.74 weETH to 42.64 weETH +0% from 2.53% to 2.54%
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

  • VELO borrows -47% (5.98M → 3.15M VELO)
  • USDT borrows +86% (71.45K → 133.12K USDT)
  • USDT supply +39% (125.25K → 174.33K USDT)
  • USDT0 supply -37% (104.10K → 65.37K USDT0)

Liquidations

No liquidation events this week.

Moonbeam

Asset Current Borrow Cap Average Borrow Cap Usage (Past Week) Average Utilization
GLMR 0.10 9095.65M% 82.82%
xcDOT 0.10 19.58M% 48.31%
FRAX 0.10 194.27K% 46.64%
xcUSDC 0.10 17.13M% 32.43%
xcUSDT 0.10 17.01M% 21.08%
USDC.wh 0.10 12.93M% 13.27%
ETH.wh 0.10 967.85% 3.58%
BTC.wh 0.10 1.00% 0.09%

Week-over-Week Changes

Asset Total Borrow Total Supply Utilization
GLMR +3% from 8.96M GLMR to 9.23M GLMR +5% from 10.88M GLMR to 11.44M GLMR -2% from 82.35% to 80.66%
xcDOT -0% from 19.63K xcDOT to 19.54K xcDOT -0% from 1.10M xcDOT to 1.10M xcDOT +0% from 48.31% to 48.32%
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 17.19K xcUSDC to 17.10K xcUSDC +0% from 52.81K xcUSDC to 52.85K xcUSDC -1% from 32.56% to 32.37%
xcUSDT +0% from 17.01K xcUSDT to 17.02K xcUSDT -0% from 80.73K xcUSDT to 80.72K xcUSDT +0% from 21.07% to 21.08%
USDC.wh -0% from 12.97K USDC.wh to 12.93K USDC.wh -3% from 98.16K USDC.wh to 94.89K USDC.wh +3% from 13.21% to 13.63%
ETH.wh -21% from 1.09 ETH.wh to 0.86 ETH.wh -3% from 27.56 ETH.wh to 26.61 ETH.wh -18% from 3.97% to 3.25%
BTC.wh 0% from 0.00 BTC.wh to 0.00 BTC.wh -11% from 1.19 BTC.wh to 1.06 BTC.wh +12% from 0.09% to 0.10%

Liquidations

  • Total liquidations: 2
  • Total Collateral Seized (USD): $1.44
  • Total Debt Repaid (USD): $1.31
  • Total Liquidation Bonus (USD): $0.13
  • Total Liquidator Bonus (USD): $0.09
  • Total Protocol Bonus (USD): $0.04
Asset Total Seized (Tokens) Total Seized (USD) Debt Repaid (USD) Liquidation Bonus (USD) Liquidator Bonus (USD) Protocol Bonus (USD) Liquidation Count
GLMR 60.627600 $1.44 $1.31 $0.13 $0.09 $0.04 2

Moonriver

Moonriver will be fully deprecated by Feb 1st, this week as while collateral factors were reduced from 15% to 7.5%, the following liquidations occurred.

Liquidations

  • Total liquidations: 58
  • Total Collateral Seized (USD): $1,788.42
  • Total Debt Repaid (USD): $1,625.84
  • Total Liquidation Bonus (USD): $162.58
  • Total Liquidator Bonus (USD): $113.81
  • Total Protocol Bonus (USD): $48.78
Asset Total Seized (Tokens) Total Seized (USD) Debt Repaid (USD) Liquidation Bonus (USD) Liquidator Bonus (USD) Protocol Bonus (USD) Liquidation Count
MOVR 327.530432 $853.98 $776.35 $77.63 $54.34 $23.29 28
FRAX 527.857040 $524.51 $476.83 $47.68 $33.38 $14.30 8
xcKSM 53.546110 $409.93 $372.66 $37.27 $26.09 $11.18 22

The next proposal aims to reduce collateral factors in all three markets from 7.5% to 0%, liquidating all remaining positions. Below is a list of remaining addresses with debt on Moonriver.

Estimated debt repaid: $1,661.00

Newly liquidatable positions after adjustment: 63

Address Collateral (USD) Debt (USD) HF change
0xb10503651649ced3ca08b517197339baf84be6f4 XCKSM:$3,762, MOVR:$2,007 MOVR:$302 1.433→0.000
0xea596b95be434da15c2d438011be8d35ca5826db XCKSM:$2,577, MOVR:$934, FRAX:$581 MOVR:$143, XCKSM:$91 1.312→0.000
0xf57439b647b5d2ba7309b5b58eaadefa69238926 MOVR:$1,792, XCKSM:$1,099 XCKSM:$102, MOVR:$81, FRAX:$25 1.042→0.000
0x980c8a9be764f1ef008a584a7d3d7975b1245c8c FRAX:$1,298, XCKSM:$1,059, MOVR:$157 MOVR:$176 1.071→0.000
0xc6302894cd030601d5e1f65c8f504c83d5361279 FRAX:$2,428, MOVR:$764 MOVR:$119 2.012→0.000
0x50bfa31336524ef6f729ae4d07beb44e1f97ed53 FRAX:$873, MOVR:$14 FRAX:$65 1.023→0.000
0x491ffc953e1ab2751817ff90a5f32694a4841474 MOVR:$545, XCKSM:$428 XCKSM:$42 1.737→0.000
0x5963c46aeb3f51ced435a770e40958b640480f6c FRAX:$604 FRAX:$37 1.224→0.000
0x6b252eed6c28c076fa22c0f006d1d7161e0705ca MOVR:$585 MOVR:$35 1.254→0.000
0x15fd6f22be98b21ac03e685dac2c38e5de2055b6 XCKSM:$643 XCKSM:$34 1.418→0.000
0x9626087c4e8e63a486c1e7961854f5cbe1cea4c1 FRAX:$3,783 MOVR:$31 9.152→0.000
0x2944778ea6a8c8b05780842b44413022b1246895 MOVR:$462 MOVR:$30 1.155→0.000
0x71583c00b62c85601e83b88ffc59233b1243b30d XCKSM:$178, MOVR:$176 XCKSM:$23 1.154→0.000
0xe1f5a5166df06f575a755ef26238cb4b07c1ce66 MOVR:$426 MOVR:$20 1.597→0.000
0x9f94ff95cbc403cbfc18802edeaef71da8155f36 FRAX:$344, XCKSM:$102, MOVR:$5 XCKSM:$19 1.780→0.000
0xbcba34246db4f560fc19b9a56111b90f8cadb248 FRAX:$134, MOVR:$106 FRAX:$10, MOVR:$8 1.000→0.000
0x749696fbee9c3b972d62bceb19ed38f9fedc261a XCKSM:$160, MOVR:$65, FRAX:$7 XCKSM:$10, MOVR:$6 1.087→0.000
0x5cc2687251415ea89335d06f3d83f598a412a6fb FRAX:$471 MOVR:$16 2.208→0.000
0x62e97d3f157162a5fb1f81a388358909922407e7 MOVR:$243 MOVR:$14 1.302→0.000
0x2e931904f3b4a27455d6fd72687ace315d52fbb7 FRAX:$239, MOVR:$13 MOVR:$14 1.350→0.000
0xd56e6809e34a4271aa4d08dc4522266b9f3527fc MOVR:$182, FRAX:$10 MOVR:$8, FRAX:$5 1.108→0.000
0x57c0674424b354d55ec45c65fad0f0dd3edd92cb MOVR:$244 XCKSM:$12 1.525→0.000
0x71f9b420a6b03d2fbe2c0d2aea5f4365b0e95774 MOVR:$211 MOVR:$12 1.319→0.000
0x016f4eb10196d247ae5eb2c9d6c2562d7db7e61c XCKSM:$255 XCKSM:$11 1.739→0.000
0x5989190301ef1b771ee0b0290519b27f6fdda08a XCKSM:$81, MOVR:$75 FRAX:$10 1.170→0.000
0xd4c621bcae8bc25cc5be96919bbdc888335a7f49 MOVR:$284 FRAX:$9 2.367→0.000
0xa2ebd97892502847061fe611efd5e289dbfa0703 XCKSM:$198 XCKSM:$8 1.856→0.000
0x3ec80aa5aa9563ae4108ad548af38bdf50bca5c4 MOVR:$126 FRAX:$8 1.181→0.000
0x07a92f07b414157f1b51dc6363c4e41483c9ae30 FRAX:$102 FRAX:$7 1.093→0.000
0xaf05e7650c857a070a46d9afe5f2c704edc9fa3d XCKSM:$161 FRAX:$7 1.725→0.000
0x826121d2a47c9d6e71fd4fed082ceccc8a5381b1 XCKSM:$62, MOVR:$47 MOVR:$7 1.168→0.000
0x0a4e5c29d7c1c80e0d6d3f06d1a28dfd6609536a MOVR:$107 MOVR:$6 1.338→0.000
0xeb7dff2aefa350c2b96509053f3376bc1e4eb887 FRAX:$80, MOVR:$28 MOVR:$6 1.350→0.000
0x65274e52b12e0cfac2cc42bc4fb971447507c5e2 XCKSM:$74, MOVR:$72 FRAX:$6 1.825→0.000
0x6c7e7fbfa69f4b5a5ade1c27bc74fa4290a3b8a3 XCKSM:$112 XCKSM:$6 1.400→0.000
0x42e48f81c65c7961f35b1bd13242faacb27160ea MOVR:$70 FRAX:$5 1.050→0.000
0x75ef617ebe6bb4e7b4e85c37c25462c1dbdd5b00 XCKSM:$70, MOVR:$12 XCKSM:$5 1.230→0.000
0xaa69b502540b8a1b0d05e4df02bae637397d09f3 MOVR:$103 XCKSM:$3, MOVR:$2 1.545→0.000
0x9bbf8d4eae6d0423fc9b1ae37c934a3a0c574aa3 MOVR:$114 MOVR:$5 1.710→0.000
0x157a8c092a9544fb84ed06d633956c1aba075e9f MOVR:$70, XCKSM:$1 FRAX:$3, XCKSM:$2 1.065→0.000
0xbd24b957413d1006ee642280e8777eeb7dbb0879 MOVR:$89 MOVR:$4 1.669→0.000
0x9187ca4c4426eea21a97fa1c415836ff75b06a69 MOVR:$64 MOVR:$4 1.200→0.000
0x82ad076fe3637e851741a4ec48e3f0a427d8672f MOVR:$64 FRAX:$4 1.200→0.000
0xd98f10ba79091eb4cf58bafeb6681a77ee30b385 XCKSM:$97, MOVR:$18 MOVR:$4 2.156→0.000
0x409ea67dc4f83b8d91a8b32057aed28f5debbd4a XCKSM:$74 MOVR:$3 1.850→0.000
0xbf2d4f7bcafb6111fcdeaaa6c1fa680d084dc0c1 MOVR:$54 MOVR:$3 1.350→0.000
0x5972da5ff1b91a83fce2cda94ad8601dc0eb14b3 FRAX:$59, MOVR:$6 FRAX:$2, MOVR:$1 1.625→0.000
0x186fed4e49ae0fb6f312ac81d5af0397d31feb8a MOVR:$53 MOVR:$3 1.325→0.000
0xc56e69c5412b9629b4418eab6b9b94820eb8be13 MOVR:$68 FRAX:$3 1.700→0.000
0x2f4675d80a50857ea02933f2487ef1fedb6660c1 MOVR:$24, XCKSM:$22 MOVR:$2, XCKSM:$1 1.150→0.000
0xc5ea9eb8cdba62e0a7d89b4fe6a2431afe64133b MOVR:$38 MOVR:$2 1.425→0.000
0x391d396ebe8f48e17483561d6603066f7d7a0514 MOVR:$34 MOVR:$2 1.275→0.000
0x88086850b484d857ed611701a530d6602303eb66 MOVR:$34 MOVR:$2 1.275→0.000
0x6c7b2911369eb702f4b007633e19f18f75babc73 MOVR:$39 FRAX:$2 1.462→0.000
0xea4c5bd8fb85130439e01ee3a3f0348edcac0858 MOVR:$34 MOVR:$2 1.275→0.000
0x0aac6fe840d4da1261f275562ae33d67ba6869ee XCKSM:$26, MOVR:$2 FRAX:$2 1.050→0.000
0x73d2d055639d287107b133175978e65c3675e90f XCKSM:$32, MOVR:$13 XCKSM:$1, MOVR:$1 1.688→0.000
0xd1bf5f87c7f04f93e46521988940b5aea30eb7aa FRAX:$42 FRAX:$2 1.575→0.000
0x23bca3f361c89a4da94784dc26b70dd04b5558e0 FRAX:$67 XCKSM:$1 5.025→0.000
0x7ea65c38c2d4ef477dbce3b95bed5ca85a0a4b73 MOVR:$15 MOVR:$1 1.125→0.000
0x68541f794a58ce79a21f843745cc73a1d281ee87 XCKSM:$25, MOVR:$4 XCKSM:$1 2.175→0.000
0x4b0a6d7339f7072d0fec5a9f8ae34a5a60624e93 FRAX:$28 MOVR:$1 2.100→0.000
0x29967f828407a15520e9cb6f8026df1620d463af MOVR:$12, FRAX:$3 FRAX:$1 1.125→0.000
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