Weekly Update (9/4/26 - 9/10/26)
Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, Ethereum and OP Mainnet. Data from 9/4/26 to 9/10/26, through the latest available September 10 snapshots. More information can be found on our monitoring dashboard.
Base
Source: Anthias monitoring dashboard, 7d view; amounts in USD.
| Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|---|---|
| cbETH | 0.00 | 4.00K | N/A | 17.20% | 100.00% |
| MAMO | 0.00 | 0.00 | N/A | N/A | 100.00% |
| USDS | 0.00 | 0.00 | N/A | N/A | 99.99% |
| USDC | 0.00 | 200.00M | N/A | 5.29% | 99.96% |
| EURC | 0.00 | 21.90M | N/A | 1.55% | 99.77% |
| MORPHO | 0.00 | 400.00K | N/A | 46.24% | 87.71% |
| VIRTUAL | 0.00 | 4.50M | N/A | 33.24% | 83.81% |
| WETH | 0.00 | 96.00K | N/A | 3.05% | 83.31% |
| cbBTC | 0.00 | 1.50K | N/A | 5.85% | 70.26% |
| wstETH | 0.00 | 14.40K | N/A | 5.13% | 63.43% |
| DAI | 0.00 | 0.00 | N/A | N/A | 61.67% |
| cbXRP | 0.00 | 5.00M | N/A | 41.58% | 37.90% |
| AERO | 0.00 | 20.00M | N/A | 61.89% | 20.48% |
| WELL | 0.00 | 0.00 | N/A | N/A | 13.75% |
| tBTC | 0.00 | 0.00 | N/A | N/A | 11.48% |
| USDbC | 0.00 | 1.00 | N/A | 800.62K% | 11.16% |
| rETH | 0.00 | 0.00 | N/A | N/A | 1.96% |
| LBTC | 0.00 | 95.00 | N/A | 48.74% | 1.19% |
| weETH | 0.00 | 5.40K | N/A | 1.07% | 0.32% |
| VVV | 0.00 | 170.00K | N/A | 37.77% | 0.12% |
| wrsETH | 0.00 | 0.00 | N/A | N/A | 0.01% |
Bad Debt & Reserves
| Market | Bad Debt (USD) | Bad Debt (tokens) | Reserves (USD) | Reserves (tokens) |
|---|---|---|---|---|
| cbBTC | $4,219,355.01 | 54.08273052 | $4,689.01 | 0.0602 |
| USDC | $2,310,800.93 | 2311013.494462 | $56,851.28 | 56851.282 |
| cbETH | $1,898,048.32 | 675.45133431 | $9,034.74 | 3.2208 |
| WETH | $1,842,625.90 | 746.62671786 | $879.76 | 0.3571 |
| wstETH | $1,220,443.39 | 397.47321043 | $3,630.95 | 1.1846 |
| cbXRP | $1,026,172.98 | 745842.589073 | $323.90 | 235.3906 |
| VIRTUAL | $805,089.01 | 1241935.43017855 | $265.98 | 410.4604 |
| MORPHO | $242,722.46 | 106436.08381487 | $1,504.62 | 659.9197 |
| EURC | $171,877.72 | 147911.593243 | $9,958.12 | 8569.8101 |
| AERO | $85,927.81 | 154377.49224977 | $667.36 | 1204.6247 |
| MAMO | $15,225.94 | 2075981.5795641 | $13,334.82 | 1904974.1492 |
| USDS | $923.93 | 924.04890465 | $168.14 | 168.1439 |
| WELL | $51.81 | 25383.88361698 | $139.22 | 69608.9175 |
| weETH | $9.89 | 0.00362984 | $0.00 | 0 |
| rETH | $6.94 | 0.00239756 | $0.58 | 0.0002 |
| wrsETH | $3.60 | 0.00135258 | $0.00 | 0 |
| tBTC | $3.11 | 0.00003989 | $7.77 | 0.0001 |
| LBTC | $2.21 | 0.00002822 | $0.00 | 0 |
| USDbC | $0.03 | 0.033633 | $0.12 | 0.1216 |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| cbETH | +0% from 687.98 cbETH to 688.10 cbETH | +0% from 687.98 cbETH to 688.10 cbETH | 0% from 100.00% to 100.00% |
| MAMO | +12% from 3.10M MAMO to 3.47M MAMO | +12% from 3.10M MAMO to 3.47M MAMO | +0% from 100.00% to 100.00% |
| USDS | +1% from 9.85K USDS to 9.97K USDS | +1% from 9.85K USDS to 9.98K USDS | +0% from 99.99% to 100.00% |
| USDC | -21% from 11.48M USDC to 9.01M USDC | -21% from 11.48M USDC to 9.01M USDC | 0% from 100.00% to 100.00% |
| EURC | -3% from 347.07K EURC to 337.97K EURC | -3% from 347.08K EURC to 337.97K EURC | +0% from 99.99% to 100.00% |
| MORPHO | -0% from 147.63K MORPHO to 147.62K MORPHO | -51% from 306.04K MORPHO to 148.54K MORPHO | +106% from 48.24% to 99.38% |
| VIRTUAL | +0% from 1.25M VIRTUAL to 1.25M VIRTUAL | -2% from 1.51M VIRTUAL to 1.48M VIRTUAL | +2% from 82.73% to 84.41% |
| WETH | -42% from 2.70K WETH to 1.56K WETH | -47% from 3.74K WETH to 1.97K WETH | +10% from 72.12% to 79.17% |
| cbBTC | -8% from 64.10 cbBTC to 58.69 cbBTC | -13% from 94.92 cbBTC to 82.35 cbBTC | +6% from 67.53% to 71.27% |
| wstETH | +0% from 464.01 wstETH to 464.85 wstETH | -17% from 791.04 wstETH to 652.94 wstETH | +21% from 58.66% to 71.19% |
| DAI | +0% from 12.54K DAI to 12.57K DAI | -8% from 21.33K DAI to 19.54K DAI | +9% from 58.77% to 64.34% |
| cbXRP | +0% from 787.77K cbXRP to 787.91K cbXRP | -2% from 2.10M cbXRP to 2.06M cbXRP | +2% from 37.43% to 38.23% |
| AERO | -34% from 2.68M AERO to 1.77M AERO | -60% from 15.00M AERO to 5.98M AERO | +65% from 17.85% to 29.53% |
| WELL | -1% from 18.54M WELL to 18.26M WELL | -3% from 135.73M WELL to 131.91M WELL | +1% from 13.66% to 13.84% |
| tBTC | 0% from 0.06 tBTC to 0.06 tBTC | -16% from 0.55 tBTC to 0.46 tBTC | +18% from 10.26% to 12.15% |
| USDbC | +0% from 893.61 USDbC to 893.67 USDbC | -0% from 8.01K USDbC to 8.00K USDbC | +0% from 11.16% to 11.17% |
| rETH | -2% from 11.03 rETH to 10.79 rETH | -10% from 565.78 rETH to 512.02 rETH | +8% from 1.95% to 2.11% |
| LBTC | -5% from 0.58 LBTC to 0.55 LBTC | -8% from 47.37 LBTC to 43.75 LBTC | +2% from 1.23% to 1.25% |
| weETH | -1% from 0.19 weETH to 0.19 weETH | +0% from 57.83 weETH to 58.05 weETH | -1% from 0.32% to 0.32% |
| VVV | -52% from 108.92 VVV to 52.12 VVV | -12% from 66.79K VVV to 58.77K VVV | -46% from 0.16% to 0.09% |
| wrsETH | 0% from 0.00 wrsETH to 0.00 wrsETH | -4% from 28.85 wrsETH to 27.67 wrsETH | +4% from 0.01% to 0.02% |
Notable Trends
- AERO supply -60% (15.00M → 5.98M AERO)
- WETH supply -47% (3.74K → 1.97K WETH)
- WETH borrows -42% (2.70K → 1.56K WETH)
- USDC supply -21% (11.48M → 9.01M USDC)
- USDC borrows -21% (11.48M → 9.01M USDC)
- cbBTC supply -13% (94.92 → 82.35 cbBTC)
Liquidations
- Total liquidations: 81
- Total Collateral Seized (USD): $36,280.93
- Total Debt Repaid (USD): $32,982.66
- Total Liquidation Bonus (USD): $3,298.27
- Total Liquidator Bonus (USD): $2,308.79
- Total Protocol Bonus (USD): $989.48
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| USDC | 24,823.081915 | $24,820.31 | $22,563.92 | $2,256.39 | $1,579.47 | $676.92 | 24 |
| cbBTC | 0.095476 | $7,620.19 | $6,927.45 | $692.74 | $484.92 | $207.82 | 2 |
| cbETH | 0.435201 | $1,237.51 | $1,125.01 | $112.50 | $78.75 | $33.75 | 14 |
| WELL | 475,921.903000 | $885.63 | $805.11 | $80.51 | $56.36 | $24.15 | 4 |
| AERO | 1,020.333482 | $508.32 | $462.11 | $46.21 | $32.35 | $13.86 | 7 |
| VIRTUAL | 552.287673 | $403.46 | $366.78 | $36.68 | $25.67 | $11.00 | 2 |
| tBTC | 0.004450 | $351.72 | $319.74 | $31.97 | $22.38 | $9.59 | 4 |
| VVV | 15.999900 | $332.37 | $302.15 | $30.22 | $21.15 | $9.06 | 1 |
| WETH | 0.039707 | $98.25 | $89.32 | $8.93 | $6.25 | $2.68 | 19 |
| cbXRP | 13.362900 | $18.58 | $16.89 | $1.69 | $1.18 | $0.51 | 1 |
| DAI | 4.024520 | $4.02 | $3.66 | $0.37 | $0.26 | $0.11 | 1 |
| EURC | 0.502736 | $0.58 | $0.53 | $0.05 | $0.04 | $0.02 | 2 |
OP Mainnet
Source: Anthias monitoring dashboard, 7d view; amounts in USD.
| Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|---|---|
| cbETH | 0.00 | 0.00 | N/A | N/A | 99.98% |
| USDC | 34.00M | 36.40M | 0.93% | 1.04% | 85.41% |
| DAI | 0.00 | 0.00 | N/A | N/A | 74.70% |
| USDT | 18.40M | 10.00M | 0.21% | 0.57% | 69.46% |
| USDT0 | 8.00M | 10.00M | 0.17% | 0.29% | 45.79% |
| OP | 0.00 | 0.00 | N/A | N/A | 29.92% |
| rETH | 0.00 | 0.00 | N/A | N/A | 15.78% |
| WBTC | 0.00 | 0.00 | N/A | N/A | 13.28% |
| WETH | 30.00K | 32.00K | 0.08% | 0.55% | 13.10% |
| wstETH | 0.00 | 5.00K | N/A | 1.00% | 4.78% |
| weETH | 0.00 | 0.00 | N/A | N/A | 3.63% |
| VELO | 0.00 | 0.00 | N/A | N/A | 3.29% |
| wrsETH | 0.00 | 0.00 | N/A | N/A | 0.35% |
Bad Debt & Reserves
| Market | Bad Debt (USD) | Bad Debt (tokens) | Reserves (USD) | Reserves (tokens) |
|---|---|---|---|---|
| rETH | $5,895.00 | 2.04493045 | $1.73 | 0.0006 |
| cbETH | $539.00 | 0.19228614 | $26.10 | 0.0093 |
| WETH | $89.00 | 0.03626756 | $2.71 | 0.0011 |
| VELO | $34.00 | 1466.19907736 | $6.97 | 290.2618 |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| cbETH | 0% from 0.19 cbETH to 0.19 cbETH | 0% from 0.19 cbETH to 0.19 cbETH | 0% from 99.98% to 99.98% |
| USDC | -67% from 550.27K USDC to 182.79K USDC | -70% from 669.32K USDC to 199.76K USDC | +11% from 82.21% to 91.51% |
| DAI | +0% from 17.73K DAI to 17.76K DAI | -10% from 24.99K DAI to 22.40K DAI | +12% from 70.95% to 79.30% |
| USDT | +0% from 39.23K USDT to 39.26K USDT | -20% from 64.19K USDT to 51.41K USDT | +25% from 61.12% to 76.36% |
| USDT0 | +66% from 11.69K USDT0 to 19.37K USDT0 | -11% from 31.47K USDT0 to 27.99K USDT0 | +86% from 37.16% to 69.19% |
| OP | -23% from 238.05K OP to 183.20K OP | -4% from 644.13K OP to 620.23K OP | -20% from 36.96% to 29.54% |
| rETH | +0% from 2.05 rETH to 2.05 rETH | -0% from 12.97 rETH to 12.97 rETH | +0% from 15.78% to 15.78% |
| WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.00 WBTC to 0.00 WBTC | +2% from 13.07% to 13.38% |
| WETH | -84% from 95.61 WETH to 15.55 WETH | -23% from 202.93 WETH to 157.23 WETH | -79% from 47.11% to 9.89% |
| wstETH | +0% from 2.11 wstETH to 2.11 wstETH | -68% from 125.19 wstETH to 40.22 wstETH | +211% from 1.69% to 5.25% |
| weETH | 0% from 0.26 weETH to 0.26 weETH | -2% from 7.32 weETH to 7.16 weETH | +2% from 3.58% to 3.66% |
| VELO | -0% from 771.15K VELO to 770.68K VELO | -9% from 25.46M VELO to 23.08M VELO | +10% from 3.03% to 3.34% |
| wrsETH | -5% from 0.00 wrsETH to 0.00 wrsETH | -12% from 1.21 wrsETH to 1.06 wrsETH | +8% from 0.33% to 0.36% |
Notable Trends
- USDC supply -70% (669.32K → 199.76K USDC)
- USDC borrows -67% (550.27K → 182.79K USDC)
- wstETH supply -68% (125.19 → 40.22 wstETH)
- WETH borrows -84% (95.61 → 15.55 WETH)
- WETH supply -23% (202.93 → 157.23 WETH)
- VELO supply -9% (25.46M → 23.08M VELO)
Liquidations
- Total liquidations: 8
- Total Collateral Seized (USD): $27.88
- Total Debt Repaid (USD): $25.35
- Total Liquidation Bonus (USD): $2.53
- Total Liquidator Bonus (USD): $1.77
- Total Protocol Bonus (USD): $0.76
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| DAI | 19.365900 | $19.36 | $17.60 | $1.76 | $1.23 | $0.53 | 1 |
| rETH | 0.001968 | $5.65 | $5.14 | $0.51 | $0.36 | $0.15 | 2 |
| wrsETH | 0.000473 | $1.28 | $1.17 | $0.12 | $0.08 | $0.03 | 2 |
| USDT0 | 0.624643 | $0.62 | $0.57 | $0.06 | $0.04 | $0.02 | 1 |
| VELO | 21.199200 | $0.50 | $0.45 | $0.05 | $0.03 | $0.01 | 1 |
| wstETH | 0.000149 | $0.47 | $0.42 | $0.04 | $0.03 | $0.01 | 1 |
Ethereum
Source: Anthias monitoring dashboard, 7d view; amounts in USD.
| Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|---|---|
| USDC | 180.00M | 200.00M | 0.05% | 0.05% | 85.97% |
| WETH | 20.00K | 30.00K | 1.92% | 1.87% | 68.52% |
| USDT | 180.00M | 200.00M | 0.05% | 0.08% | 57.73% |
| cbBTC | 600.00 | 1.00K | 0.39% | 0.75% | 32.05% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| USDC | -50% from 151.76K USDC to 76.31K USDC | -56% from 204.83K USDC to 90.05K USDC | +14% from 74.09% to 84.75% |
| WETH | +0% from 384.79 WETH to 384.96 WETH | -2% from 561.92 WETH to 550.16 WETH | +2% from 68.48% to 69.97% |
| USDT | -10% from 102.09K USDT to 91.64K USDT | -5% from 166.29K USDT to 158.51K USDT | -6% from 61.39% to 57.81% |
| cbBTC | -50% from 4.56 cbBTC to 2.30 cbBTC | -42% from 10.69 cbBTC to 6.24 cbBTC | -14% from 42.66% to 36.89% |
Notable Trends
- cbBTC supply -42% (10.69 → 6.24 cbBTC)
- cbBTC borrows -50% (4.56 → 2.30 cbBTC)
- USDC supply -56% (204.83K → 90.05K USDC)
- USDC borrows -50% (151.76K → 76.31K USDC)
- WETH supply -2% (561.92 → 550.16 WETH)
- USDT borrows -10% (102.09K → 91.64K USDT)
Liquidations
No liquidation events this week, as shown on the Ethereum liquidations dashboard.