Weekly Update (7/18/25 - 7/24/25)
Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, Optimism, Moonbeam, and Moonriver. Data from 7/18/25 to 7/24/25. 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 |
|---|---|---|---|---|---|
| USDC | 184.00M | 200.00M | 43.98% | 45.03% | 89.85% |
| WETH | 64.00K | 96.00K | 34.29% | 27.31% | 83.76% |
| USDS | 690.00K | 750.00K | 1.46% | 1.91% | 75.76% |
| EURC | 21.00M | 21.90M | 19.57% | 25.71% | 73.13% |
| DAI | 300.00K | 400.00K | 6.27% | 7.84% | 59.96% |
| AERO | 25.00M | 70.00M | 42.76% | 35.52% | 43.03% |
| tBTC | 36.00 | 90.00 | 10.54% | 13.60% | 31.00% |
| LBTC | 38.00 | 95.00 | 36.91% | 52.39% | 28.17% |
| cbXRP | 500.00K | 1.00M | 29.71% | 65.43% | 22.97% |
| WELL | 75.00M | 150.00M | 38.37% | 100.45% | 19.10% |
| cbBTC | 640.00 | 1.50K | 21.87% | 49.04% | 19.01% |
| VIRTUAL | 2.30M | 4.50M | 16.06% | 44.69% | 18.49% |
| USDbC | 1.00 | 1.00 | 151.93K% | 1.06M% | 14.37% |
| MORPHO | 1.00M | 4.00M | 50.94% | 100.00% | 12.73% |
| weETH | 700.00 | 4.00K | 4.42% | 23.97% | 3.42% |
| cbETH | 6.40K | 16.00K | 1.02% | 17.26% | 2.36% |
| wstETH | 4.80K | 14.40K | 1.88% | 39.19% | 1.60% |
| rETH | 900.00 | 2.60K | 1.74% | 50.02% | 1.21% |
| wrsETH | 430.00 | 1.00K | 0.24% | 15.27% | 0.69% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| USDC | -4% from 78.44M USDC to 75.55M USDC | -4% from 87.14M USDC to 83.71M USDC | +0% from 90.01% to 90.25% |
| WETH | +24% from 21.57K WETH to 26.71K WETH | +12% from 26.78K WETH to 29.97K WETH | +11% from 80.57% to 89.13% |
| USDS | +43% from 9.40K USDS to 13.42K USDS | +61% from 11.29K USDS to 18.19K USDS | -11% from 83.32% to 73.78% |
| EURC | +7% from 4.03M EURC to 4.30M EURC | -5% from 5.71M EURC to 5.41M EURC | +13% from 70.68% to 79.60% |
| DAI | +15% from 17.40K DAI to 19.94K DAI | -0% from 31.43K DAI to 31.36K DAI | +15% from 55.35% to 63.60% |
| AERO | -7% from 11.15M AERO to 10.37M AERO | +8% from 24.42M AERO to 26.41M AERO | -14% from 45.64% to 39.26% |
| tBTC | +30% from 3.05 tBTC to 3.96 tBTC | -6% from 12.50 tBTC to 11.72 tBTC | +39% from 24.39% to 33.78% |
| LBTC | -4% from 14.45 LBTC to 13.93 LBTC | +2% from 49.86 LBTC to 50.79 LBTC | -5% from 28.98% to 27.42% |
| cbXRP | -13% from 154.72K cbXRP to 134.81K cbXRP | +39% from 578.29K cbXRP to 803.53K cbXRP | -37% from 26.76% to 16.78% |
| WELL | -6% from 28.50M WELL to 26.69M WELL | +1% from 149.44M WELL to 151.25M WELL | -7% from 19.07% to 17.64% |
| cbBTC | -7% from 129.94 cbBTC to 120.21 cbBTC | +3% from 704.67 cbBTC to 725.01 cbBTC | -10% from 18.44% to 16.58% |
| VIRTUAL | -6% from 396.20K VIRTUAL to 372.99K VIRTUAL | +16% from 1.79M VIRTUAL to 2.07M VIRTUAL | -19% from 22.17% to 18.05% |
| USDbC | +0% from 1.52K USDbC to 1.52K USDbC | -3% from 10.64K USDbC to 10.29K USDbC | +3% from 14.27% to 14.77% |
| MORPHO | +3% from 508.76K MORPHO to 522.73K MORPHO | +0% from 4.00M MORPHO to 4.00M MORPHO | +3% from 12.71% to 13.06% |
| weETH | -4% from 31.23 weETH to 29.97 weETH | +206% from 709.40 weETH to 2.17K weETH | -69% from 4.40% to 1.38% |
| cbETH | -1% from 65.57 cbETH to 65.16 cbETH | +3% from 2.76K cbETH to 2.84K cbETH | -3% from 2.37% to 2.30% |
| wstETH | -0% from 88.74 wstETH to 88.48 wstETH | +20% from 5.19K wstETH to 6.24K wstETH | -17% from 1.71% to 1.42% |
| rETH | -0% from 15.71 rETH to 15.67 rETH | +0% from 1.29K rETH to 1.30K rETH | -0% from 1.22% to 1.21% |
| wrsETH | +856% from 0.23 wrsETH to 2.21 wrsETH | -1% from 153.64 wrsETH to 152.03 wrsETH | +866% from 0.15% to 1.46% |
Notable Trends
- WETH borrows increased by 24% from 21.57K to 26.71K WETH
- cbXRP supply increased by 39% from 578.29K to 803.53K cbXRP
- weETH supply increased by 206% from 709.40 to 2.17K weETH
Liquidations
- Total liquidations: 96
- Total Collateral Seized (USD): $202,689.34
- Total Debt Repaid (USD): $184,263.03
- Total Liquidation Bonus (USD): $18,426.30
- Total Liquidator Bonus (USD): $12,898.41
- Total Protocol Bonus (USD): $5,527.89
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| cbXRP | 25,957.019600 | $87,115.94 | $79,196.31 | $7,919.63 | $5,543.74 | $2,375.89 | 4 |
| USDC | 79,939.384259 | $79,929.07 | $72,662.79 | $7,266.28 | $5,086.40 | $2,179.88 | 26 |
| AERO | 19,701.629300 | $17,614.12 | $16,012.84 | $1,601.28 | $1,120.90 | $480.39 | 11 |
| WELL | 273,298.897900 | $8,498.24 | $7,725.68 | $772.57 | $540.80 | $231.77 | 5 |
| cbBTC | 0.023151 | $2,713.39 | $2,466.72 | $246.67 | $172.67 | $74.00 | 10 |
| EURC | 2,279.412000 | $2,667.06 | $2,424.60 | $242.46 | $169.72 | $72.74 | 3 |
| VIRTUAL | 1,454.376200 | $2,626.95 | $2,388.14 | $238.81 | $167.17 | $71.64 | 10 |
| cbETH | 0.177105 | $698.09 | $634.62 | $63.46 | $44.42 | $19.04 | 1 |
| WETH | 0.133389 | $492.43 | $447.67 | $44.77 | $31.34 | $13.43 | 14 |
| tBTC | 0.001419 | $168.49 | $153.17 | $15.32 | $10.72 | $4.60 | 5 |
| LBTC | 0.001034 | $124.46 | $113.15 | $11.31 | $7.92 | $3.39 | 4 |
| wstETH | 0.007456 | $32.65 | $29.68 | $2.97 | $2.08 | $0.89 | 1 |
| USDS | 7.702760 | $7.70 | $7.00 | $0.70 | $0.49 | $0.21 | 1 |
| DAI | 0.745667 | $0.75 | $0.68 | $0.07 | $0.05 | $0.02 | 1 |
Optimism
| Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|---|---|
| USDC | 34.00M | 36.40M | 32.79% | 34.28% | 89.38% |
| WETH | 30.00K | 32.00K | 28.01% | 29.57% | 89.05% |
| USDT0 | 8.00M | 10.00M | 21.41% | 19.55% | 87.56% |
| DAI | 4.50M | 4.80M | 8.78% | 9.41% | 87.38% |
| USDT | 18.40M | 22.60M | 1.73% | 1.70% | 81.88% |
| rETH | 340.00 | 750.00 | 4.25% | 12.81% | 15.04% |
| wrsETH | 160.00 | 400.00 | 2.51% | 9.68% | 10.38% |
| wstETH | 1.50K | 5.00K | 4.67% | 21.26% | 6.58% |
| VELO | 20.00M | 68.00M | 13.46% | 62.73% | 6.31% |
| OP | 650.00K | 5.60M | 19.45% | 45.42% | 4.97% |
| WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 4.32% |
| weETH | 220.00 | 1.20K | 9.17% | 99.88% | 1.68% |
| cbETH | 0.00 | 10.00 | 0.00% | 9.00% | 0.02% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| USDC | +8% from 11.69M USDC to 12.65M USDC | +6% from 13.31M USDC to 14.12M USDC | +2% from 87.77% to 89.58% |
| WETH | +47% from 7.10K WETH to 10.42K WETH | +52% from 7.85K WETH to 11.95K WETH | -4% from 90.49% to 87.23% |
| USDT0 | -8% from 1.96M USDT0 to 1.79M USDT0 | -9% from 2.19M USDT0 to 2.00M USDT0 | +1% from 89.26% to 89.86% |
| DAI | -24% from 506.72K DAI to 383.15K DAI | -21% from 556.10K DAI to 439.42K DAI | -4% from 91.12% to 87.20% |
| USDT | -33% from 380.27K USDT to 256.11K USDT | -26% from 442.71K USDT to 326.33K USDT | -9% from 85.90% to 78.48% |
| rETH | -15% from 16.54 rETH to 14.08 rETH | -1% from 95.84 rETH to 95.08 rETH | -14% from 17.26% to 14.81% |
| wrsETH | -8% from 4.26 wrsETH to 3.90 wrsETH | +0% from 38.72 wrsETH to 38.72 wrsETH | -8% from 11.00% to 10.08% |
| wstETH | +5% from 67.95 wstETH to 71.03 wstETH | +1% from 1.06K wstETH to 1.07K wstETH | +4% from 6.40% to 6.63% |
| VELO | +12% from 2.45M VELO to 2.75M VELO | +4% from 41.27M VELO to 42.81M VELO | +8% from 5.94% to 6.42% |
| OP | -2% from 127.45K OP to 124.96K OP | +2% from 2.51M OP to 2.56M OP | -4% from 5.08% to 4.88% |
| WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.07 WBTC to 0.07 WBTC | +0% from 4.32% to 4.32% |
| weETH | +27% from 17.20 weETH to 21.82 weETH | +0% from 1.20K weETH to 1.20K weETH | +26% from 1.44% to 1.82% |
| cbETH | 0% from 0.00 cbETH to 0.00 cbETH | 0% from 0.90 cbETH to 0.90 cbETH | 0% from 0.02% to 0.02% |
Notable Trends
- WETH supply increased by 52% from 7.85K to 11.95K WETH
- WETH borrows increased by 47% from 7.10K to 10.42K WETH
- USDT supply decreased by 26% from 442.71K USDT to 326.33K USDT
- USDT borrows decreased by 33% from 380.27K to 256.11K USDT
Liquidations
- Total liquidations: 17
- Total Collateral Seized (USD): $32,742.00
- Total Debt Repaid (USD): $29,765.45
- Total Liquidation Bonus (USD): $2,976.55
- Total Liquidator Bonus (USD): $2,083.58
- Total Protocol Bonus (USD): $892.96
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| wstETH | 7.582620 | $32,333.40 | $29,394.00 | $2,939.40 | $2,057.58 | $881.82 | 1 |
| VELO | 3,866.096000 | $227.02 | $206.39 | $20.64 | $14.45 | $6.19 | 4 |
| USDC | 96.599300 | $96.59 | $87.81 | $8.78 | $6.15 | $2.63 | 2 |
| WETH | 0.008875 | $33.38 | $30.35 | $3.03 | $2.12 | $0.91 | 1 |
| OP | 36.695800 | $28.36 | $25.78 | $2.58 | $1.80 | $0.77 | 1 |
| USDT0 | 16.032102 | $16.04 | $14.59 | $1.46 | $1.02 | $0.44 | 5 |
| USDT | 7.196850 | $7.20 | $6.54 | $0.65 | $0.46 | $0.20 | 3 |
Moonbeam
| Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|
| GLMR | 0.10 | 6518.47M% | 62.43% |
| xcUSDC | 0.10 | 98.77M% | 58.02% |
| xcUSDT | 0.10 | 83.95M% | 44.82% |
| USDC_wh | 0.10 | 41.46M% | 33.19% |
| xcDOT | 0.10 | 23.19M% | 4.32% |
| ETH_wh | 0.10 | 1.31K% | 2.70% |
| FRAX | 0.10 | 454.49K% | 1.10% |
| BTC_wh | 0.10 | 6.70% | 0.54% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| GLMR | +1% from 6.49M GLMR to 6.55M GLMR | -6% from 11.00M GLMR to 10.32M GLMR | +7% from 59.03% to 63.40% |
| xcUSDC | -1% from 99.77K xcUSDC to 98.60K xcUSDC | -37% from 267.67K xcUSDC to 168.60K xcUSDC | +57% from 37.27% to 58.48% |
| xcUSDT | +0% from 83.91K xcUSDT to 83.98K xcUSDT | -35% from 285.29K xcUSDT to 185.31K xcUSDT | +54% from 29.41% to 45.32% |
| USDC_wh | -0% from 41.58K USDC_wh to 41.49K USDC_wh | +0% from 124.87K USDC_wh to 124.94K USDC_wh | -0% from 33.30% to 33.21% |
| xcDOT | +0% from 23.18K xcDOT to 23.19K xcDOT | -0% from 536.61K xcDOT to 536.60K xcDOT | +0% from 4.32% to 4.32% |
| ETH_wh | -2% from 1.32 ETH_wh to 1.29 ETH_wh | -5% from 50.46 ETH_wh to 47.96 ETH_wh | +3% from 2.62% to 2.70% |
| FRAX | -1% from 455.12 FRAX to 451.37 FRAX | -2% from 41.68K FRAX to 40.77K FRAX | +1% from 1.09% to 1.11% |
| BTC_wh | 0% from 0.01 BTC_wh to 0.01 BTC_wh | -1% from 1.24 BTC_wh to 1.24 BTC_wh | +1% from 0.54% to 0.54% |
Notable Trends
- xcUSDC supply decreased by 37% from 267.67K to 168.60K xcUSDC
- xcUSDT supply decreased by 35% from 285.29K to 185.31K xcUSDT
Liquidations
- Total liquidations: 77
- Total Collateral Seized (USD): $167.85
- Total Debt Repaid (USD): $152.59
- Total Liquidation Bonus (USD): $15.26
- Total Liquidator Bonus (USD): $10.68
- Total Protocol Bonus (USD): $4.58
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| GLMR | 2,115.189055 | $162.98 | $148.16 | $14.82 | $10.37 | $4.44 | 59 |
| USDC_wh | 1.815999 | $1.82 | $1.65 | $0.17 | $0.12 | $0.05 | 10 |
| xcUSDC | 1.147642 | $1.15 | $1.04 | $0.10 | $0.07 | $0.03 | 2 |
| FRAX | 1.069776 | $1.07 | $0.97 | $0.10 | $0.07 | $0.03 | 2 |
| xcDOT | 0.125611 | $0.54 | $0.49 | $0.05 | $0.03 | $0.01 | 2 |
| xcUSDT | 0.299774 | $0.30 | $0.27 | $0.03 | $0.02 | $0.01 | 2 |
Moonriver
| Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|
| xcKSM | 0.10 | 6.79M% | 42.93% |
| FRAX | 0.10 | 64.33M% | 19.64% |
| MOVR | 0.10 | 3.80M% | 2.52% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| xcKSM | +0% from 6.78K xcKSM to 6.79K xcKSM | -1% from 15.96K xcKSM to 15.81K xcKSM | +1% from 42.50% to 42.97% |
| FRAX | +0% from 64.30K FRAX to 64.34K FRAX | +2% from 321.69K FRAX to 328.58K FRAX | -2% from 19.99% to 19.58% |
| MOVR | +0% from 3.80K MOVR to 3.80K MOVR | +1% from 151.09K MOVR to 152.15K MOVR | -1% from 2.52% to 2.50% |
Liquidations
No liquidation events on Moonriver this week.