Weekly Update (11/14/25 - 11/20/25)
Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, and Moonbeam. Data from 11/14/25 to 11/20/25. 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 |
|---|---|---|---|---|---|
| EURC | 21.00M | 21.90M | 6.83% | 7.45% | 88.01% |
| USDC | 184.00M | 200.00M | 16.90% | 18.60% | 83.62% |
| USDS | 690.00K | 750.00K | 1.18% | 1.35% | 81.33% |
| VIRTUAL | 10.00K | 4.50M | 19.40K% | 65.00% | 67.74% |
| DAI | 300.00K | 400.00K | 4.70% | 5.55% | 63.45% |
| cbXRP | 1.60M | 5.00M | 87.34% | 45.49% | 61.46% |
| WETH | 64.00K | 96.00K | 7.65% | 8.40% | 60.66% |
| LBTC | 10.00 | 95.00 | 59.91% | 28.00% | 22.62% |
| AERO | 25.00M | 70.00M | 16.34% | 25.88% | 22.60% |
| MAMO | 3.00M | 20.00M | 12.92% | 10.89% | 17.93% |
| tBTC | 5.00 | 90.00 | 13.55% | 4.98% | 14.96% |
| USDbC | 1.00 | 1.00 | 108.49K% | 855.96K% | 12.67% |
| cbBTC | 640.00 | 1.50K | 7.37% | 25.00% | 12.60% |
| weETH | 200.00 | 5.40K | 6.83% | 2.21% | 11.46% |
| WELL | 10.00M | 250.00M | 167.47% | 73.38% | 9.13% |
| cbETH | 6.40K | 16.00K | 1.55% | 9.86% | 6.28% |
| MORPHO | 100.00K | 6.00M | 252.62% | 89.92% | 4.68% |
| wstETH | 4.80K | 14.40K | 3.25% | 26.30% | 4.13% |
| rETH | 200.00 | 2.60K | 11.06% | 31.97% | 2.66% |
| wrsETH | 0.00 | 1.00 | 0.00% | 9.38K% | 0.02% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| EURC | -5% from 1.46M EURC to 1.39M EURC | -4% from 1.63M EURC to 1.56M EURC | -0% from 89.37% to 89.10% |
| USDC | -8% from 32.65M USDC to 29.97M USDC | -6% from 39.87M USDC to 37.38M USDC | -2% from 81.91% to 80.18% |
| USDS | -38% from 12.28K USDS to 7.57K USDS | -38% from 13.62K USDS to 8.48K USDS | -1% from 90.15% to 89.32% |
| VIRTUAL | +1% from 1.92M VIRTUAL to 1.95M VIRTUAL | +39% from 2.32M VIRTUAL to 3.23M VIRTUAL | -27% from 82.86% to 60.14% |
| DAI | +3% from 13.77K DAI to 14.16K DAI | +0% from 22.16K DAI to 22.24K DAI | +3% from 62.11% to 63.70% |
| cbXRP | -2% from 1.42M cbXRP to 1.39M cbXRP | +2% from 2.20M cbXRP to 2.25M cbXRP | -4% from 64.73% to 61.92% |
| WETH | +22% from 4.69K WETH to 5.72K WETH | +11% from 8.02K WETH to 8.94K WETH | +10% from 58.40% to 63.96% |
| LBTC | +21% from 5.00 LBTC to 6.06 LBTC | +19% from 23.69 LBTC to 28.24 LBTC | +2% from 21.10% to 21.46% |
| AERO | +3% from 4.03M AERO to 4.16M AERO | +13% from 16.67M AERO to 18.86M AERO | -9% from 24.17% to 22.07% |
| MAMO | +29% from 344.77K MAMO to 445.84K MAMO | +36% from 1.63M MAMO to 2.22M MAMO | -5% from 21.16% to 20.13% |
| tBTC | +28% from 0.78 tBTC to 1.00 tBTC | +29% from 4.30 tBTC to 5.55 tBTC | -1% from 18.06% to 17.93% |
| USDbC | -0% from 1.09K USDbC to 1.08K USDbC | -1% from 8.58K USDbC to 8.47K USDbC | +1% from 12.65% to 12.79% |
| cbBTC | +1% from 51.51 cbBTC to 52.10 cbBTC | -7% from 397.86 cbBTC to 371.18 cbBTC | +8% from 12.95% to 14.04% |
| weETH | +1% from 13.80 weETH to 13.98 weETH | -2% from 121.14 weETH to 118.90 weETH | +3% from 11.39% to 11.76% |
| WELL | -3% from 17.14M WELL to 16.60M WELL | +10% from 170.02M WELL to 186.21M WELL | -12% from 10.08% to 8.91% |
| cbETH | +1% from 98.75 cbETH to 99.85 cbETH | +6% from 1.55K cbETH to 1.65K cbETH | -5% from 6.36% to 6.07% |
| MORPHO | -1% from 254.08K MORPHO to 252.51K MORPHO | -1% from 5.40M MORPHO to 5.37M MORPHO | -0% from 4.70% to 4.70% |
| wstETH | +0% from 155.38 wstETH to 155.47 wstETH | +2% from 3.73K wstETH to 3.82K wstETH | -2% from 4.17% to 4.07% |
| rETH | +0% from 22.13 rETH to 22.13 rETH | +0% from 831.70 rETH to 832.16 rETH | -0% from 2.66% to 2.66% |
| wrsETH | 0% from 0.02 wrsETH to 0.02 wrsETH | -5% from 98.12 wrsETH to 93.12 wrsETH | +5% from 0.02% to 0.02% |
Notable Trends
- WETH borrows +22% (4.69K → 5.72K WETH)
- WETH supply +11% (8.02K → 8.94K WETH)
- AERO supply +13% (16.67M → 18.86M AERO)
Liquidations
- Total liquidations: 234
- Total Collateral Seized (USD): $467,640.38
- Total Debt Repaid (USD): $425,127.62
- Total Liquidation Bonus (USD): $42,512.76
- Total Liquidator Bonus (USD): $29,758.93
- Total Protocol Bonus (USD): $12,753.83
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| cbBTC | 4.197260 | $387,807.45 | $352,552.23 | $35,255.22 | $24,678.66 | $10,576.57 | 48 |
| WETH | 16.137979 | $46,903.95 | $42,639.95 | $4,264.00 | $2,984.80 | $1,279.20 | 114 |
| AERO | 21,120.891109 | $18,067.89 | $16,425.35 | $1,642.54 | $1,149.77 | $492.76 | 27 |
| WELL | 844,752.671000 | $7,631.33 | $6,937.58 | $693.76 | $485.63 | $208.13 | 14 |
| rETH | 0.920089 | $3,327.16 | $3,024.69 | $302.47 | $211.73 | $90.74 | 2 |
| VIRTUAL | 2,178.719200 | $2,333.81 | $2,121.65 | $212.16 | $148.52 | $63.65 | 3 |
| cbXRP | 229.394000 | $489.18 | $444.71 | $44.47 | $31.13 | $13.34 | 1 |
| cbETH | 0.119827 | $389.66 | $354.23 | $35.42 | $24.80 | $10.63 | 4 |
| MAMO | 10,767.300000 | $342.88 | $311.71 | $31.17 | $21.82 | $9.35 | 1 |
| LBTC | 0.001799 | $170.64 | $155.12 | $15.51 | $10.86 | $4.65 | 4 |
| USDC | 133.810300 | $133.79 | $121.63 | $12.16 | $8.51 | $3.65 | 10 |
| weETH | 0.009958 | $33.43 | $30.39 | $3.04 | $2.13 | $0.91 | 1 |
| wstETH | 0.002182 | $7.81 | $7.10 | $0.71 | $0.50 | $0.21 | 2 |
| USDS | 1.304890 | $1.30 | $1.19 | $0.12 | $0.08 | $0.04 | 1 |
| EURC | 0.086366 | $0.10 | $0.09 | $0.01 | $0.01 | $0.00 | 2 |
OP Mainnet
| Asset | Current Borrow Cap | Current Supply Cap | Average Borrow Cap Usage (Past Week) | Average Supply Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|---|---|
| USDT0 | 8.00M | 10.00M | 1.27% | 1.26% | 80.95% |
| WETH | 30.00K | 32.00K | 7.01% | 8.63% | 76.17% |
| DAI | 4.50M | 4.80M | 0.88% | 1.29% | 64.02% |
| WBTC | 0.00 | 0.00 | 0.00% | 0.00% | 61.62% |
| USDT | 18.40M | 22.60M | 0.56% | 0.75% | 60.57% |
| USDC | 34.00M | 36.40M | 2.08% | 3.28% | 58.84% |
| cbETH | 0.00 | 10.00 | 0.00% | 2.65% | 37.73% |
| VELO | 20.00M | 80.00M | 43.38% | 53.96% | 20.09% |
| OP | 650.00K | 5.60M | 27.93% | 16.30% | 19.86% |
| rETH | 340.00 | 750.00 | 1.10% | 3.95% | 13.12% |
| wstETH | 1.50K | 5.00K | 0.91% | 2.95% | 9.26% |
| weETH | 220.00 | 1.20K | 0.83% | 4.35% | 3.49% |
| wrsETH | 0.00 | 0.00 | 0.00% | 0.00% | 1.61% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| USDT0 | -4% from 103.55K USDT0 to 99.71K USDT0 | -6% from 130.02K USDT0 to 121.70K USDT0 | +3% from 79.64% to 81.93% |
| WETH | -11% from 2.20K WETH to 1.97K WETH | -12% from 2.95K WETH to 2.59K WETH | +2% from 74.70% to 76.05% |
| DAI | -0% from 39.55K DAI to 39.48K DAI | -4% from 62.33K DAI to 59.72K DAI | +4% from 63.45% to 66.10% |
| WBTC | 0% from 0.00 WBTC to 0.00 WBTC | 0% from 0.01 WBTC to 0.01 WBTC | 0% from 61.62% to 61.62% |
| USDT | -6% from 104.82K USDT to 98.63K USDT | -4% from 174.18K USDT to 166.60K USDT | -2% from 60.18% to 59.20% |
| USDC | -38% from 1.04M USDC to 638.63K USDC | -20% from 1.48M USDC to 1.19M USDC | -23% from 70.09% to 53.63% |
| cbETH | 0% from 0.10 cbETH to 0.10 cbETH | 0% from 0.27 cbETH to 0.27 cbETH | 0% from 37.73% to 37.73% |
| VELO | +7% from 9.35M VELO to 10.00M VELO | +4% from 43.04M VELO to 44.96M VELO | +2% from 21.73% to 22.23% |
| OP | +66% from 121.51K OP to 201.61K OP | +0% from 899.37K OP to 903.13K OP | +65% from 13.51% to 22.32% |
| rETH | -9% from 3.76 rETH to 3.40 rETH | -42% from 46.74 rETH to 26.97 rETH | +57% from 8.05% to 12.62% |
| wstETH | +62% from 9.19 wstETH to 14.90 wstETH | +6% from 139.85 wstETH to 147.88 wstETH | +53% from 6.57% to 10.07% |
| weETH | -0% from 1.82 weETH to 1.82 weETH | -6% from 52.69 weETH to 49.32 weETH | +7% from 3.46% to 3.69% |
| wrsETH | 0% from 0.28 wrsETH to 0.28 wrsETH | 0% from 17.19 wrsETH to 17.19 wrsETH | 0% from 1.61% to 1.61% |
Notable Trends
- WETH supply -12% (2.95K → 2.59K WETH)
- USDC borrows -38% (1.04M → 638.63K USDC)
- USDC supply -20% (1.48M → 1.19M USDC)
- rETH supply -42% (46.74 → 26.97 rETH**)
Liquidations
- Total liquidations: 7
- Total Collateral Seized (USD): $503.23
- Total Debt Repaid (USD): $457.48
- Total Liquidation Bonus (USD): $45.75
- Total Liquidator Bonus (USD): $32.02
- Total Protocol Bonus (USD): $13.72
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| weETH | 0.053708 | $176.87 | $160.79 | $16.08 | $11.26 | $4.82 | 1 |
| wstETH | 0.043212 | $156.09 | $141.90 | $14.19 | $9.93 | $4.26 | 2 |
| OP | 331.166000 | $117.78 | $107.07 | $10.71 | $7.49 | $3.21 | 1 |
| rETH | 0.012672 | $43.11 | $39.19 | $3.92 | $2.74 | $1.18 | 1 |
| WETH | 0.003245 | $9.39 | $8.54 | $0.85 | $0.60 | $0.26 | 2 |
Moonbeam
| Asset | Current Borrow Cap | Average Borrow Cap Usage (Past Week) | Average Utilization |
|---|---|---|---|
| GLMR | 0.10 | 7721.92M% | 69.10% |
| xcDOT | 0.10 | 19.81M% | 47.69% |
| FRAX | 0.10 | 238.24K% | 46.68% |
| xcUSDC | 0.10 | 27.29M% | 44.84% |
| xcUSDT | 0.10 | 25.08M% | 30.63% |
| USDC.wh | 0.10 | 22.62M% | 22.73% |
| BTC.wh | 0.10 | 94.55% | 7.96% |
| ETH.wh | 0.10 | 1.10K% | 3.52% |
Week-over-Week Changes
| Asset | Total Borrow | Total Supply | Utilization |
|---|---|---|---|
| GLMR | +1% from 7.66M GLMR to 7.78M GLMR | -2% from 11.59M GLMR to 11.31M GLMR | +4% from 66.14% to 68.76% |
| xcDOT | +0% from 19.81K xcDOT to 19.82K xcDOT | -0% from 1.12M xcDOT to 1.12M xcDOT | +0% from 47.67% to 47.68% |
| FRAX | 0% from 238.24 FRAX to 238.24 FRAX | 0% from 38.77K FRAX to 38.77K FRAX | 0% from 46.68% to 46.68% |
| xcUSDC | -2% from 27.64K xcUSDC to 27.16K xcUSDC | +2% from 59.57K xcUSDC to 60.59K xcUSDC | -3% from 46.40% to 44.82% |
| xcUSDT | -1% from 25.23K xcUSDT to 25.07K xcUSDT | -11% from 90.84K xcUSDT to 80.85K xcUSDT | +12% from 27.78% to 31.01% |
| USDC.wh | -1% from 22.72K USDC.wh to 22.48K USDC.wh | +0% from 99.52K USDC.wh to 99.56K USDC.wh | -1% from 22.83% to 22.59% |
| BTC.wh | +0% from 0.09 BTC.wh to 0.09 BTC.wh | +0% from 1.19 BTC.wh to 1.19 BTC.wh | +0% from 7.95% to 7.96% |
| ETH.wh | 0% from 1.10 ETH.wh to 1.10 ETH.wh | 0% from 31.10 ETH.wh to 31.10 ETH.wh | 0% from 3.52% to 3.52% |
Liquidations
- Total liquidations: 13
- Total Collateral Seized (USD): $153.40
- Total Debt Repaid (USD): $139.46
- Total Liquidation Bonus (USD): $13.95
- Total Liquidator Bonus (USD): $9.76
- Total Protocol Bonus (USD): $4.18
| Asset | Total Seized (Tokens) | Total Seized (USD) | Debt Repaid (USD) | Liquidation Bonus (USD) | Liquidator Bonus (USD) | Protocol Bonus (USD) | Liquidation Count |
|---|---|---|---|---|---|---|---|
| GLMR | 4,073.370070 | $119.62 | $108.75 | $10.87 | $7.61 | $3.26 | 11 |
| xcUSDC | 22.749500 | $22.76 | $20.69 | $2.07 | $1.45 | $0.62 | 1 |
| xcDOT | 4.235150 | $11.02 | $10.02 | $1.00 | $0.70 | $0.30 | 1 |
