# \[Anthias Labs\] Weekly Market Updates

**URL:** <https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772>\
**Category:** Updates\
**Created:** [July 4, 2025, 10:36pm UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772 "2025-07-04T22:36:48Z")\
**Posts on this page:** 1\
**Showing post:** 86

<div class="post-metadata">

**Author:** ![AnthiasLabs](https://dub1.discourse-cdn.com/flex017/user_avatar/forum.moonwell.fi/anthiaslabs/32/3489_2.png) [@AnthiasLabs](https://forum.moonwell.fi/u/AnthiasLabs)\
**Post date:** [October 9, 2026, 5:20am UTC](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772/86 "2026-10-09T05:20:57Z")

</div>

# Weekly Update (10/2/26 - 10/8/26)

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 10/2/26 to 10/8/26. More information can be found on our [monitoring dashboard](https://risk.anthias.xyz/moonwell/core/base/overview).

## Base

 ![1](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/2/2536eb135ac4877c690faa059066bc37d14a576c.png)

| 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% |
| USDC | 0.00 | 200.00M | N/A | 4.05% | 100.00% |
| cbETH | 0.00 | 4.00K | N/A | 17.21% | 100.00% |
| EURC | 0.00 | 21.90M | N/A | 1.45% | 100.00% |
| USDS | 0.00 | 0.00 | N/A | N/A | 100.00% |
| MORPHO | 0.00 | 400.00K | N/A | 31.52% | 99.92% |
| VIRTUAL | 0.00 | 4.50M | N/A | 31.74% | 87.83% |
| cbBTC | 0.00 | 1.50K | N/A | 4.70% | 82.84% |
| WETH | 0.00 | 96.00K | N/A | 1.87% | 79.99% |
| wstETH | 0.00 | 14.40K | N/A | 4.52% | 71.60% |
| DAI | 0.00 | 0.00 | N/A | N/A | 64.71% |
| cbXRP | 0.00 | 5.00M | N/A | 31.95% | 48.64% |
| AERO | 0.00 | 20.00M | N/A | 17.32% | 38.82% |
| tBTC | 0.00 | 0.00 | N/A | N/A | 13.17% |
| WELL | 0.00 | 0.00 | N/A | N/A | 12.85% |
| USDbC | 0.00 | 1.00 | N/A | 799.71K% | 11.16% |
| rETH | 0.00 | 0.00 | N/A | N/A | 1.92% |
| VVV | 0.00 | 170.00K | N/A | 2.51% | 1.21% |
| 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 | $4,486,046.69 | 54.62289118 | $9,608.49 | 0.1177 |
| USDC | $2,338,896.41 | 2339334.116267 | $71,444.31 | 71444.3062 |
| cbETH | $1,919,158.99 | 675.99426016 | $10,676.32 | 3.7863 |
| WETH | $1,859,033.22 | 747.33677768 | $2,275.21 | 0.9209 |
| wstETH | $1,235,911.82 | 398.84789686 | $4,381.34 | 1.4236 |
| cbXRP | $1,038,711.73 | 746431.86265 | $1,466.73 | 1060.5393 |
| VIRTUAL | $883,903.47 | 1242916.34466385 | $979.85 | 1378.1285 |
| MORPHO | $259,325.61 | 108396.47266928 | $3,617.62 | 1531.5917 |
| EURC | $168,108.57 | 149994.350153 | $10,604.98 | 9460.2887 |
| AERO | $131,046.85 | 155318.98637209 | $8,849.38 | 10636.2713 |
| MAMO | $16,099.02 | 2077636.68213356 | $15,260.84 | 1907605.3317 |
| USDS | $938.28 | 938.47762857 | $323.95 | 323.952 |
| WELL | $56.84 | 25441.64202849 | $159.39 | 79693.2417 |
| weETH | $9.98 | 0.00362996 | $0.00 | 0 |
| rETH | $7.00 | 0.00239778 | $3.19 | 0.0011 |
| wrsETH | $3.63 | 0.00135258 | $0.00 | 0 |
| tBTC | $3.27 | 0.00003991 | $16.33 | 0.0002 |
| LBTC | $2.33 | 0.00002822 | $8.20 | 0.0001 |
| USDbC | $0.03 | 0.033643 | $0.40 | 0.4026 |

### 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% |
| USDC | -1% from 8.11M USDC to 8.04M USDC | -1% from 8.11M USDC to 8.04M USDC | 0% from 100.00% to 100.00% |
| cbETH | +0% from 688.49 cbETH to 688.52 cbETH | +0% from 688.49 cbETH to 688.52 cbETH | -0% from 100.00% to 100.00% |
| EURC | -0% from 319.15K EURC to 318.19K EURC | -0% from 319.15K EURC to 318.19K EURC | 0% from 100.00% to 100.00% |
| USDS | -4% from 10.05K USDS to 9.60K USDS | -4% from 10.05K USDS to 9.60K USDS | -0% from 100.00% to 100.00% |
| MORPHO | -1% from 125.87K MORPHO to 124.45K MORPHO | -1% from 125.87K MORPHO to 124.45K MORPHO | -0% from 100.00% to 100.00% |
| VIRTUAL | +0% from 1.25M VIRTUAL to 1.25M VIRTUAL | -0% from 1.43M VIRTUAL to 1.43M VIRTUAL | +0% from 87.66% to 87.89% |
| cbBTC | +0% from 58.26 cbBTC to 58.45 cbBTC | +1% from 70.44 cbBTC to 70.93 cbBTC | -0% from 82.70% to 82.41% |
| WETH | -2% from 1.46K WETH to 1.43K WETH | -2% from 1.81K WETH to 1.77K WETH | +0% from 80.65% to 80.81% |
| wstETH | +0% from 465.40 wstETH to 465.73 wstETH | +0% from 650.24 wstETH to 650.41 wstETH | +0% from 71.57% to 71.61% |
| DAI | +0% from 12.74K DAI to 12.75K DAI | +0% from 19.69K DAI to 19.70K DAI | +0% from 64.69% to 64.72% |
| cbXRP | +0% from 776.88K cbXRP to 777.04K cbXRP | -1% from 1.61M cbXRP to 1.59M cbXRP | +1% from 48.20% to 48.87% |
| AERO | +0% from 1.34M AERO to 1.35M AERO | -2% from 3.50M AERO to 3.42M AERO | +2% from 38.44% to 39.39% |
| tBTC | 0% from 0.05 tBTC to 0.05 tBTC | -27% from 0.41 tBTC to 0.30 tBTC | +37% from 12.60% to 17.26% |
| WELL | -0% from 16.92M WELL to 16.90M WELL | -0% from 131.60M WELL to 131.33M WELL | +0% from 12.86% to 12.87% |
| USDbC | +0% from 892.62 USDbC to 892.67 USDbC | -0% from 8.00K USDbC to 7.99K USDbC | +0% from 11.16% to 11.17% |
| rETH | -0% from 9.41 rETH to 9.39 rETH | -0% from 488.35 rETH to 488.25 rETH | -0% from 1.93% to 1.92% |
| VVV | -0% from 51.94 VVV to 51.72 VVV | +0% from 4.26K VVV to 4.26K VVV | -0% from 1.22% to 1.21% |
| 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 57.20 weETH to 57.20 weETH | +0% from 0.30% to 0.30% |
| wrsETH | 0% from 0.00 wrsETH to 0.00 wrsETH | 0% from 18.75 wrsETH to 18.75 wrsETH | 0% from 0.02% to 0.02% |

### Notable Trends

- USDC borrows -1% (8.11M → 8.04M USDC)
- USDC supply -1% (8.11M → 8.04M USDC)

### Liquidations

- **Total liquidations:** 92
- **Total Collateral Seized (USD):** $2,726.49
- **Total Debt Repaid (USD):** $2,478.63
- **Total Liquidation Bonus (USD):** $247.86
- **Total Liquidator Bonus (USD):** $173.50
- **Total Protocol Bonus (USD):** $74.36

| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
| --- | --- | --- | --- | --- | --- | --- | --- |
| cbETH | 0.658495 | $1,913.40 | $1,739.46 | $173.95 | $121.76 | $52.18 | 18 |
| WETH | 0.164034 | $401.25 | $364.77 | $36.48 | $25.53 | $10.94 | 15 |
| AERO | 282.720623 | $243.68 | $221.52 | $22.15 | $15.51 | $6.65 | 9 |
| USDC | 122.889969 | $122.87 | $111.70 | $11.17 | $7.82 | $3.35 | 37 |
| EURC | 37.198025 | $41.82 | $38.02 | $3.80 | $2.66 | $1.14 | 7 |
| cbBTC | 0.000024 | $2.03 | $1.85 | $0.18 | $0.13 | $0.06 | 1 |
| USDS | 1.383100 | $1.38 | $1.26 | $0.13 | $0.09 | $0.04 | 1 |
| VIRTUAL | 0.054036 | $0.04 | $0.04 | $0.00 | $0.00 | $0.00 | 3 |
| wstETH | 0.000005 | $0.02 | $0.01 | $0.00 | $0.00 | $0.00 | 1 |

## OP Mainnet

 ![2](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/5/57b5ed59f17be90a1a1931ae1e21f75a6014aa2b.png)

| 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 | 91.53% |
| USDC | 34.00M | 36.40M | 0.45% | 0.50% | 85.23% |
| USDT | 18.40M | 10.00M | 0.07% | 0.23% | 60.54% |
| WETH | 30.00K | 32.00K | 0.23% | 0.42% | 51.79% |
| USDT0 | 8.00M | 10.00M | 0.13% | 0.25% | 40.52% |
| OP | 0.00 | 0.00 | N/A | N/A | 20.05% |
| rETH | 0.00 | 0.00 | N/A | N/A | 15.81% |
| WBTC | 0.00 | 0.00 | N/A | N/A | 13.40% |
| VELO | 0.00 | 0.00 | N/A | N/A | 4.46% |
| weETH | 0.00 | 0.00 | N/A | N/A | 2.91% |
| wstETH | 0.00 | 5.00K | N/A | 1.92% | 2.66% |
| 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 | $5,972.00 | 2.04639668 | $8.42 | 0.0029 |
| cbETH | $546.00 | 0.19228614 | $26.25 | 0.0093 |
| WETH | $90.00 | 0.03628813 | $15.83 | 0.0064 |
| VELO | $54.00 | 1468.99506138 | $62.14 | 1726.0356 |

### 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 | -33% from 18.42K DAI to 12.33K DAI | -4% from 18.44K DAI to 17.64K DAI | -30% from 99.89% to 69.90% |
| USDC | -18% from 182.13K USDC to 150.11K USDC | -20% from 206.82K USDC to 165.04K USDC | +3% from 88.06% to 90.95% |
| USDT | +0% from 13.78K USDT to 13.79K USDT | -0% from 22.83K USDT to 22.74K USDT | +0% from 60.37% to 60.65% |
| WETH | **-85% from 95.65 WETH to 14.54 WETH** | -4% from 136.43 WETH to 130.87 WETH | **-84% from 70.11% to 11.11%** |
| USDT0 | +0% from 10.09K USDT0 to 10.10K USDT0 | -0% from 24.93K USDT0 to 24.88K USDT0 | +0% from 40.47% to 40.58% |
| OP | +0% from 112.07K OP to 112.16K OP | -0% from 559.97K OP to 557.92K OP | +0% from 20.01% to 20.10% |
| rETH | +0% from 2.05 rETH to 2.05 rETH | -0% from 12.96 rETH to 12.93 rETH | +0% from 15.80% to 15.84% |
| WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.00 WBTC to 0.00 WBTC | +0% from 13.38% to 13.41% |
| VELO | -9% from 759.92K VELO to 689.96K VELO | -6% from 17.23M VELO to 16.22M VELO | -4% from 4.41% to 4.25% |
| 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 | **-67% from 122.69 wstETH to 39.89 wstETH** | **+208% from 1.72% to 5.29%** |
| wrsETH | 0% from 0.00 wrsETH to 0.00 wrsETH | -0% from 1.05 wrsETH to 1.05 wrsETH | +0% from 0.36% to 0.36% |

### Notable Trends

- wstETH supply -67% (122.69 → 39.89 wstETH)
- WETH borrows -85% (95.65 → 14.54 WETH)
- USDC supply -20% (206.82K → 165.04K USDC)
- USDC borrows -18% (182.13K → 150.11K USDC)

### Liquidations

- **Total liquidations:** 8
- **Total Collateral Seized (USD):** $7,410.03
- **Total Debt Repaid (USD):** $6,736.39
- **Total Liquidation Bonus (USD):** $673.64
- **Total Liquidator Bonus (USD):** $471.55
- **Total Protocol Bonus (USD):** $202.09

| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
| --- | --- | --- | --- | --- | --- | --- | --- |
| USDC | 7,299.970800 | $7,299.11 | $6,635.56 | $663.56 | $464.49 | $199.07 | 2 |
| rETH | 0.026635 | $81.78 | $74.35 | $7.43 | $5.20 | $2.23 | 1 |
| WETH | 0.004554 | $12.32 | $11.20 | $1.12 | $0.78 | $0.34 | 1 |
| VELO | 265.363340 | $10.16 | $9.23 | $0.92 | $0.65 | $0.28 | 2 |
| OP | 51.095100 | $6.22 | $5.66 | $0.57 | $0.40 | $0.17 | 1 |
| wrsETH | 0.000159 | $0.44 | $0.40 | $0.04 | $0.03 | $0.01 | 1 |

## Ethereum

 ![3](https://europe1.discourse-cdn.com/flex017/uploads/moonwell/original/2X/5/583fc4c65ae971417d18d4e700ced0943b5e047d.png)

| 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% | 84.86% |
| USDC | 180.00M | 200.00M | 0.07% | 0.08% | 84.76% |
| WETH | 20.00K | 30.00K | 1.93% | 1.84% | 69.90% |
| cbBTC | 600.00 | 1.00K | 0.39% | 0.43% | 54.10% |

### Week-over-Week Changes

| Asset | Total Borrow | Total Supply | Utilization |
| --- | --- | --- | --- |
| USDT | -1% from 99.28K USDT to 98.01K USDT | +2% from 115.29K USDT to 117.29K USDT | -3% from 86.11% to 83.56% |
| USDC | +3% from 125.44K USDC to 128.72K USDC | +11% from 148.11K USDC to 163.93K USDC | -7% from 84.69% to 78.52% |
| WETH | +0% from 385.32 WETH to 386.48 WETH | +0% from 550.37 WETH to 552.40 WETH | -0% from 70.01% to 69.96% |
| cbBTC | +9% from 2.31 cbBTC to 2.51 cbBTC | +5% from 4.16 cbBTC to 4.36 cbBTC | +4% from 55.47% to 57.51% |

### Notable Trends

- cbBTC supply +5% (4.16 → 4.36 cbBTC)
- cbBTC borrows +9% (2.31 → 2.51 cbBTC)
- USDC supply +11% (148.11K → 163.93K USDC)

---

_[View the full topic](https://forum.moonwell.fi/t/anthias-labs-weekly-market-updates/1772)._