Weekly Update (9/25/26 - 10/1/26)
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 9/25/26 to 10/1/26, inclusive in UTC. 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 |
|---|---|---|---|---|---|
| MAMO | 0.00 | 0.00 | N/A | N/A | 100.00% |
| cbETH | 0.00 | 4.00K | N/A | 17.21% | 100.00% |
| USDC | 0.00 | 200.00M | N/A | 4.09% | 100.00% |
| USDS | 0.00 | 0.00 | N/A | N/A | 100.00% |
| EURC | 0.00 | 21.90M | N/A | 1.47% | 99.97% |
| MORPHO | 0.00 | 400.00K | N/A | 31.95% | 99.38% |
| VIRTUAL | 0.00 | 4.50M | N/A | 31.96% | 87.19% |
| cbBTC | 0.00 | 1.50K | N/A | 4.70% | 82.54% |
| WETH | 0.00 | 96.00K | N/A | 1.89% | 81.30% |
| wstETH | 0.00 | 14.40K | N/A | 4.53% | 71.39% |
| DAI | 0.00 | 0.00 | N/A | N/A | 64.60% |
| cbXRP | 0.00 | 5.00M | N/A | 32.47% | 47.85% |
| AERO | 0.00 | 20.00M | N/A | 19.07% | 36.28% |
| WELL | 0.00 | 0.00 | N/A | N/A | 12.89% |
| tBTC | 0.00 | 0.00 | N/A | N/A | 12.51% |
| USDbC | 0.00 | 1.00 | N/A | 800.10K% | 11.16% |
| rETH | 0.00 | 0.00 | N/A | N/A | 2.12% |
| VVV | 0.00 | 170.00K | N/A | 2.51% | 1.22% |
| LBTC | 0.00 | 95.00 | N/A | 45.62% | 0.50% |
| weETH | 0.00 | 5.40K | N/A | 1.06% | 0.30% |
| wrsETH | 0.00 | 0.00 | N/A | N/A | 0.02% |
Bad Debt & Reserves
| Market | Gross exposure (USD) | Gross exposure (tokens) | Reserves (USD) | Reserves (tokens) |
|---|---|---|---|---|
| cbBTC | $4,671,153.48 | 54.42102323 | $8,303.70 | 0.0966 |
| USDC | $2,332,123.41 | 2332240.506612 | $69,008.53 | 69008.5252 |
| cbETH | $2,101,187.89 | 675.85294095 | $11,245.96 | 3.6279 |
| WETH | $2,036,255.18 | 747.18208704 | $2,408.05 | 0.8862 |
| wstETH | $1,351,446.64 | 398.5025969 | $4,615.95 | 1.3651 |
| cbXRP | $1,137,085.81 | 746287.357852 | $1,392.45 | 918.5038 |
| VIRTUAL | $1,002,937.82 | 1242677.68589936 | $915.15 | 1139.6687 |
| MORPHO | $281,817.19 | 107821.25369722 | $3,355.23 | 1296.9579 |
| EURC | $168,227.40 | 149465.064027 | $10,523.21 | 9345.6593 |
| AERO | $121,952.47 | 155058.06896564 | $7,770.48 | 9836.0505 |
| MAMO | $15,744.54 | 2077013.5201209 | $15,252.60 | 1906574.6405 |
| USDS | $935.09 | 935.10674152 | $287.93 | 287.9339 |
| WELL | $58.99 | 25424.58286583 | $153.72 | 76857.8753 |
| weETH | $10.93 | 0.00362994 | $0.00 | 0 |
| rETH | $7.67 | 0.00239775 | $3.19 | 0.001 |
| wrsETH | $3.99 | 0.00135258 | $0.00 | 0 |
| tBTC | $3.43 | 0.00003991 | $17.20 | 0.0002 |
| LBTC | $2.43 | 0.00002822 | $8.64 | 0.0001 |
| USDbC | $0.03 | 0.033641 | $0.34 | 0.3439 |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| MAMO | +0% from 3.47M MAMO to 3.47M MAMO | +0% from 3.47M MAMO to 3.47M MAMO | 0% from 100.00% to 100.00% |
| cbETH | +0% from 688.36 cbETH to 688.49 cbETH | +0% from 688.36 cbETH to 688.49 cbETH | 0% from 100.00% to 100.00% |
| USDC | -3% from 8.36M USDC to 8.11M USDC | -3% from 8.36M USDC to 8.11M USDC | 0% from 100.00% to 100.00% |
| USDS | 0% from 10.05K USDS to 10.05K USDS | 0% from 10.05K USDS to 10.05K USDS | 0% from 100.00% to 100.00% |
| EURC | -6% from 337.99K EURC to 319.15K EURC | -6% from 337.99K EURC to 319.15K EURC | 0% from 100.00% to 100.00% |
| MORPHO | -8% from 136.72K MORPHO to 125.87K MORPHO | -10% from 140.46K MORPHO to 125.87K MORPHO | +3% from 97.33% to 100.00% |
| VIRTUAL | +0% from 1.25M VIRTUAL to 1.25M VIRTUAL | -1% from 1.45M VIRTUAL to 1.43M VIRTUAL | +1% from 86.64% to 87.66% |
| cbBTC | +0% from 58.06 cbBTC to 58.26 cbBTC | +0% from 70.16 cbBTC to 70.44 cbBTC | -0% from 82.74% to 82.70% |
| WETH | -3% from 1.51K WETH to 1.46K WETH | -1% from 1.83K WETH to 1.81K WETH | -2% from 82.60% to 80.65% |
| wstETH | +0% from 465.05 wstETH to 465.40 wstETH | -0% from 652.99 wstETH to 650.24 wstETH | +0% from 71.22% to 71.57% |
| DAI | +0% from 12.68K DAI to 12.74K DAI | +0% from 19.65K DAI to 19.69K DAI | +0% from 64.54% to 64.69% |
| cbXRP | +0% from 776.74K cbXRP to 776.88K cbXRP | -1% from 1.63M cbXRP to 1.61M cbXRP | +1% from 47.77% to 48.20% |
| AERO | -9% from 1.48M AERO to 1.34M AERO | -30% from 5.01M AERO to 3.50M AERO | +30% from 29.47% to 38.44% |
| WELL | -1% from 17.02M WELL to 16.92M WELL | -0% from 131.73M WELL to 131.60M WELL | -0% from 12.92% to 12.86% |
| tBTC | 0% from 0.05 tBTC to 0.05 tBTC | -1% from 0.41 tBTC to 0.41 tBTC | +1% from 12.47% to 12.60% |
| USDbC | +0% from 892.54 USDbC to 892.62 USDbC | -0% from 8.00K USDbC to 8.00K USDbC | +0% from 11.15% to 11.16% |
| rETH | -13% from 10.75 rETH to 9.41 rETH | -3% from 505.67 rETH to 488.35 rETH | -9% from 2.13% to 1.93% |
| VVV | -0% from 52.03 VVV to 51.94 VVV | -1% from 4.29K VVV to 4.26K VVV | +0% from 1.21% to 1.22% |
| LBTC | 0% from 0.21 LBTC to 0.21 LBTC | -0% from 43.34 LBTC to 43.34 LBTC | -0% from 0.50% to 0.50% |
| weETH | 0% from 0.17 weETH to 0.17 weETH | -0% from 57.21 weETH to 57.20 weETH | +0% from 0.30% to 0.30% |
| wrsETH | 0% from 0.00 wrsETH to 0.00 wrsETH | -32% from 27.67 wrsETH to 18.75 wrsETH | +48% from 0.02% to 0.02% |
Notable Trends
- AERO supply -30% (5.01M → 3.50M AERO)
- USDC borrows -3% (8.36M → 8.11M USDC)
Liquidations
- Total liquidations: 78
- Total Collateral Seized (USD): $9,339.77
- Total Debt Repaid (USD): $8,490.70
- Total Liquidation Bonus (USD): $849.07
- Total Liquidator Bonus (USD): $594.35
- Total Protocol Bonus (USD): $254.72
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| EURC | 2,216.436908 | $2,526.38 | $2,296.71 | $229.67 | $160.77 | $68.90 | 4 |
| cbXRP | 1,644.580000 | $2,473.85 | $2,248.95 | $224.90 | $157.43 | $67.47 | 1 |
| USDC | 2,369.873500 | $2,369.75 | $2,154.32 | $215.43 | $150.80 | $64.63 | 27 |
| AERO | 1,218.122078 | $1,066.96 | $969.97 | $97.00 | $67.90 | $29.10 | 15 |
| WETH | 0.300790 | $808.75 | $735.22 | $73.52 | $51.47 | $22.06 | 11 |
| cbETH | 0.011960 | $36.70 | $33.36 | $3.34 | $2.34 | $1.00 | 9 |
| cbBTC | 0.000324 | $27.12 | $24.66 | $2.47 | $1.73 | $0.74 | 2 |
| WELL | 4,860.845000 | $10.69 | $9.72 | $0.97 | $0.68 | $0.29 | 4 |
| VIRTUAL | 12.330430 | $9.66 | $8.78 | $0.88 | $0.61 | $0.26 | 3 |
| wstETH | 0.002697 | $9.11 | $8.28 | $0.83 | $0.58 | $0.25 | 1 |
| MORPHO | 0.313604 | $0.81 | $0.73 | $0.07 | $0.05 | $0.02 | 1 |
OP Mainnet
| 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% |
| DAI | 0.00 | 0.00 | N/A | N/A | 99.89% |
| USDC | 34.00M | 36.40M | 0.52% | 0.58% | 82.84% |
| USDT | 18.40M | 10.00M | 0.08% | 0.25% | 61.17% |
| WETH | 30.00K | 32.00K | 0.27% | 0.43% | 59.38% |
| USDT0 | 8.00M | 10.00M | 0.13% | 0.25% | 40.41% |
| OP | 0.00 | 0.00 | N/A | N/A | 20.42% |
| rETH | 0.00 | 0.00 | N/A | N/A | 15.80% |
| WBTC | 0.00 | 0.00 | N/A | N/A | 13.38% |
| VELO | 0.00 | 0.00 | N/A | N/A | 4.32% |
| weETH | 0.00 | 0.00 | N/A | N/A | 2.91% |
| wstETH | 0.00 | 5.00K | N/A | 2.14% | 1.98% |
| wrsETH | 0.00 | 0.00 | N/A | N/A | 0.36% |
Bad Debt & Reserves
| Market | Gross exposure (USD) | Gross exposure (tokens) | Reserves (USD) | Reserves (tokens) |
|---|---|---|---|---|
| rETH | $6,546.00 | 2.0457599 | $4.78 | 0.0015 |
| cbETH | $598.00 | 0.19228614 | $28.83 | 0.0093 |
| WETH | $99.00 | 0.03628349 | $13.86 | 0.0051 |
| VELO | $50.00 | 1468.32155898 | $47.25 | 1389.7288 |
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% |
| DAI | +1% from 18.25K DAI to 18.42K DAI | +1% from 18.28K DAI to 18.44K DAI | +0% from 99.83% to 99.89% |
| USDC | +18% from 154.25K USDC to 182.13K USDC | +14% from 182.16K USDC to 206.82K USDC | +4% from 84.68% to 88.06% |
| USDT | -65% from 39.31K USDT to 13.78K USDT | -53% from 48.58K USDT to 22.83K USDT | -25% from 80.91% to 60.37% |
| WETH | +25% from 76.73 WETH to 95.65 WETH | -0% from 136.88 WETH to 136.43 WETH | +25% from 56.06% to 70.11% |
| USDT0 | +0% from 10.08K USDT0 to 10.09K USDT0 | -0% from 25.01K USDT0 to 24.93K USDT0 | +0% from 40.32% to 40.47% |
| OP | -7% from 120.46K OP to 112.07K OP | -3% from 580.05K OP to 559.97K OP | -4% from 20.77% to 20.01% |
| rETH | +0% from 2.05 rETH to 2.05 rETH | 0% from 12.96 rETH to 12.96 rETH | +0% from 15.80% to 15.80% |
| WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 13.38% to 13.38% |
| VELO | -1% from 769.32K VELO to 759.92K VELO | -7% from 18.49M VELO to 17.23M VELO | +6% from 4.16% to 4.41% |
| weETH | 0% from 0.21 weETH to 0.21 weETH | -0% from 7.07 weETH to 7.07 weETH | +0% from 2.91% to 2.91% |
| wstETH | 0% from 2.11 wstETH to 2.11 wstETH | +20% from 102.30 wstETH to 122.69 wstETH | -17% from 2.06% to 1.72% |
| wrsETH | 0% from 0.00 wrsETH to 0.00 wrsETH | -1% from 1.06 wrsETH to 1.05 wrsETH | +1% from 0.36% to 0.36% |
Notable Trends
- wstETH supply +20% (102.30 → 122.69 wstETH)
- WETH borrows +25% (76.73 → 95.65 WETH)
- USDC borrows +18% (154.25K → 182.13K USDC)
- USDT supply -53% (48.58K → 22.83K USDT)
- USDT borrows -65% (39.31K → 13.78K USDT)
Liquidations
- Total liquidations: 4
- Total Collateral Seized (USD): $35.55
- Total Debt Repaid (USD): $32.32
- Total Liquidation Bonus (USD): $3.23
- Total Liquidator Bonus (USD): $2.26
- Total Protocol Bonus (USD): $0.97
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| WETH | 0.009237 | $24.75 | $22.50 | $2.25 | $1.57 | $0.67 | 1 |
| DAI | 10.814240 | $10.81 | $9.83 | $0.98 | $0.69 | $0.29 | 3 |
Ethereum
| Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|---|---|
| USDT | 180.00M | 200.00M | 0.06% | 0.06% | 86.28% |
| USDC | 180.00M | 200.00M | 0.07% | 0.07% | 84.26% |
| WETH | 20.00K | 30.00K | 1.93% | 1.83% | 70.05% |
| cbBTC | 600.00 | 1.00K | 0.38% | 0.54% | 46.07% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| USDT | +0% from 99.14K USDT to 99.28K USDT | +1% from 113.64K USDT to 115.29K USDT | -1% from 87.25% to 86.11% |
| USDC | +1% from 124.21K USDC to 125.44K USDC | -1% from 149.07K USDC to 148.11K USDC | +2% from 83.32% to 84.69% |
| WETH | +0% from 385.22 WETH to 385.32 WETH | +0% from 549.68 WETH to 550.37 WETH | -0% from 70.08% to 70.01% |
| cbBTC | +0% from 2.31 cbBTC to 2.31 cbBTC | +0% from 4.16 cbBTC to 4.16 cbBTC | -0% from 55.50% to 55.47% |
Liquidations
No liquidation events this week.