[Anthias Labs] Weekly Market Updates

AnthiasLabs · November 20, 2025, 3:37pm

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

AnthiasLabs · November 27, 2025, 5:03pm

Weekly Update (11/21/25 - 11/27/25)

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 11/21/25 to 11/27/25. 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
USDS	690.00K	750.00K	1.01%	1.11%	83.68%
USDC	184.00M	200.00M	15.66%	17.61%	81.94%
EURC	21.00M	21.90M	6.32%	7.66%	79.39%
WETH	64.00K	96.00K	9.65%	9.86%	65.20%
VIRTUAL	10.00K	4.50M	19.50K%	70.87%	61.13%
DAI	300.00K	400.00K	4.43%	5.58%	59.57%
cbXRP	1.60M	5.00M	88.74%	50.16%	56.75%
LBTC	10.00	95.00	59.58%	28.85%	21.74%
AERO	25.00M	70.00M	16.91%	28.87%	20.92%
tBTC	5.00	90.00	20.09%	6.17%	18.09%
MAMO	3.00M	20.00M	12.35%	10.40%	17.80%
cbBTC	640.00	1.50K	8.58%	23.55%	15.54%
weETH	200.00	5.40K	7.01%	1.96%	14.12%
USDbC	1.00	1.00	107.99K%	847.49K%	12.74%
WELL	10.00M	250.00M	157.78%	78.01%	8.09%
cbETH	6.40K	16.00K	1.54%	8.72%	7.10%
MORPHO	100.00K	6.00M	250.12%	89.72%	4.65%
wstETH	4.80K	14.40K	3.26%	26.50%	4.10%
rETH	200.00	2.60K	10.54%	32.00%	2.53%
wrsETH	0.00	1.00	0.00%	9.28K%	0.02%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
USDS	-7% from 7.50K USDS to 6.99K USDS	-5% from 8.48K USDS to 8.05K USDS	-2% from 88.43% to 86.94%
USDC	+1% from 29.05M USDC to 29.21M USDC	-2% from 37.64M USDC to 36.80M USDC	+3% from 77.17% to 79.37%
EURC	-6% from 1.39M EURC to 1.31M EURC	+11% from 1.56M EURC to 1.73M EURC	-15% from 88.84% to 75.85%
WETH	+13% from 5.73K WETH to 6.50K WETH	+13% from 8.90K WETH to 10.02K WETH	+1% from 64.40% to 64.92%
VIRTUAL	+0% from 1.95M VIRTUAL to 1.95M VIRTUAL	-2% from 3.23M VIRTUAL to 3.17M VIRTUAL	+2% from 60.29% to 61.60%
DAI	-11% from 14.17K DAI to 12.57K DAI	+0% from 22.24K DAI to 22.32K DAI	-12% from 63.69% to 56.31%
cbXRP	-0% from 1.39M cbXRP to 1.39M cbXRP	+19% from 2.24M cbXRP to 2.67M cbXRP	-16% from 61.95% to 51.98%
LBTC	-3% from 6.06 LBTC to 5.87 LBTC	-3% from 28.24 LBTC to 27.30 LBTC	+0% from 21.45% to 21.51%
AERO	+6% from 4.14M AERO to 4.41M AERO	+11% from 18.68M AERO to 20.76M AERO	-4% from 22.19% to 21.23%
tBTC	+14% from 1.00 tBTC to 1.13 tBTC	+0% from 5.55 tBTC to 5.56 tBTC	+14% from 17.93% to 20.41%
MAMO	-10% from 472.90K MAMO to 427.48K MAMO	-8% from 2.22M MAMO to 2.04M MAMO	-2% from 21.35% to 20.95%
cbBTC	+8% from 52.35 cbBTC to 56.29 cbBTC	-1% from 356.86 cbBTC to 351.79 cbBTC	+9% from 14.67% to 16.00%
weETH	+0% from 13.98 weETH to 13.99 weETH	-24% from 118.77 weETH to 90.31 weETH	+32% from 11.77% to 15.49%
USDbC	-0% from 1.08K USDbC to 1.08K USDbC	+0% from 8.47K USDbC to 8.47K USDbC	-0% from 12.75% to 12.74%
WELL	-7% from 16.60M WELL to 15.40M WELL	+6% from 186.11M WELL to 197.59M WELL	-13% from 8.92% to 7.79%
cbETH	-0% from 99.23 cbETH to 98.78 cbETH	-19% from 1.64K cbETH to 1.33K cbETH	+22% from 6.05% to 7.41%
MORPHO	-12% from 252.46K MORPHO to 221.91K MORPHO	+0% from 5.37M MORPHO to 5.38M MORPHO	-12% from 4.70% to 4.13%
wstETH	+1% from 155.48 wstETH to 156.54 wstETH	+2% from 3.82K wstETH to 3.89K wstETH	-1% from 4.07% to 4.03%
rETH	-6% from 22.13 rETH to 20.81 rETH	-1% from 832.25 rETH to 827.92 rETH	-5% from 2.66% to 2.51%
wrsETH	-17% from 0.02 wrsETH to 0.02 wrsETH	-0% from 93.12 wrsETH to 92.69 wrsETH	-17% from 0.02% to 0.02%

Notable Trends

WETH supply +13% (8.90K → 10.02K WETH)
AERO supply +11% (18.68M → 20.76M AERO)
cbXRP supply +19% (2.24M → 2.67M cbXRP)

Liquidations

Total liquidations: 242
Total Collateral Seized (USD): $368,519.00
Total Debt Repaid (USD): $335,017.27
Total Liquidation Bonus (USD): $33,501.73
Total Liquidator Bonus (USD): $23,451.21
Total Protocol Bonus (USD): $10,050.52

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
cbBTC	2.236768	$186,562.39	$169,602.17	$16,960.22	$11,872.15	$5,088.07	48
LBTC	1.002555	$82,173.22	$74,702.93	$7,470.29	$5,229.20	$2,241.09	5
WETH	12.814425	$34,375.89	$31,250.81	$3,125.08	$2,187.56	$937.52	75
cbETH	10.008528	$30,037.83	$27,307.12	$2,730.71	$1,911.50	$819.21	9
AERO	17,723.912979	$11,888.01	$10,807.28	$1,080.73	$756.51	$324.22	53
USDC	8,975.649960	$8,973.68	$8,157.89	$815.79	$571.05	$244.74	8
WELL	690,484.682400	$5,589.60	$5,081.45	$508.15	$355.70	$152.44	11
VIRTUAL	6,002.161800	$5,496.14	$4,996.50	$499.65	$349.75	$149.89	6
wstETH	0.734302	$2,424.26	$2,203.87	$220.39	$154.27	$66.12	2
cbXRP	408.345810	$814.87	$740.79	$74.08	$51.86	$22.22	10
weETH	0.032356	$95.57	$86.88	$8.69	$6.08	$2.61	2
EURC	33.101767	$38.09	$34.63	$3.46	$2.42	$1.04	9
MORPHO	21.902600	$32.88	$29.89	$2.99	$2.09	$0.90	1
tBTC	0.000183	$15.31	$13.92	$1.39	$0.97	$0.42	1
USDS	0.850490	$0.85	$0.77	$0.08	$0.05	$0.02	1
rETH	0.000129	$0.40	$0.37	$0.04	$0.03	$0.01	1

OP Mainnet

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
WETH	30.00K	32.00K	7.16%	8.54%	78.58%
DAI	4.50M	4.80M	0.87%	1.24%	65.65%
WBTC	0.00	0.00	0.00%	0.00%	61.62%
USDT0	8.00M	10.00M	0.88%	1.15%	61.53%
USDC	34.00M	36.40M	1.87%	3.19%	55.10%
USDT	18.40M	22.60M	0.45%	0.98%	38.61%
cbETH	0.00	10.00	0.00%	2.65%	37.73%
OP	650.00K	5.60M	31.14%	15.76%	22.94%
VELO	20.00M	80.00M	47.23%	56.91%	20.75%
rETH	340.00	750.00	1.00%	3.59%	12.63%
wstETH	1.50K	5.00K	1.13%	2.98%	11.40%
weETH	220.00	1.20K	0.79%	4.03%	3.60%
wrsETH	0.00	0.00	0.00%	0.00%	1.61%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
WETH	+13% from 1.97K WETH to 2.23K WETH	+9% from 2.58K WETH to 2.81K WETH	+4% from 76.14% to 79.25%
DAI	-1% from 39.48K DAI to 39.17K DAI	+0% from 59.72K DAI to 59.75K DAI	-1% from 66.10% to 65.55%
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%
USDT0	-31% from 99.72K USDT0 to 69.25K USDT0	-6% from 121.70K USDT0 to 114.32K USDT0	-26% from 81.94% to 60.57%
USDC	+21% from 632.42K USDC to 765.48K USDC	-3% from 1.19M USDC to 1.15M USDC	+25% from 53.10% to 66.35%
USDT	-10% from 91.29K USDT to 82.48K USDT	+64% from 158.76K USDT to 260.21K USDT	-45% from 57.50% to 31.70%
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%
OP	+0% from 201.62K OP to 202.28K OP	-4% from 905.79K OP to 867.90K OP	+5% from 22.26% to 23.31%
VELO	-8% from 10.01M VELO to 9.22M VELO	+1% from 44.96M VELO to 45.61M VELO	-9% from 22.26% to 20.22%
rETH	+0% from 3.40 rETH to 3.41 rETH	-0% from 26.97 rETH to 26.97 rETH	+0% from 12.62% to 12.63%
wstETH	+0% from 14.90 wstETH to 14.91 wstETH	+3% from 144.46 wstETH to 148.24 wstETH	-2% from 10.31% to 10.06%
weETH	-13% from 1.82 weETH to 1.58 weETH	-5% from 49.32 weETH to 47.01 weETH	-9% from 3.69% to 3.36%
wrsETH	+0% from 0.28 wrsETH to 0.28 wrsETH	-0% from 17.19 wrsETH to 17.18 wrsETH	+0% from 1.61% to 1.61%

Notable Trends

WETH borrows +13% (1.97K → 2.23K WETH)
USDC borrows +21% (632.42K → 765.48K USDC)
USDT supply +64% (158.76K → 260.21K USDT)

Liquidations

Total liquidations: 37
Total Collateral Seized (USD): $22,305.87
Total Debt Repaid (USD): $20,278.06
Total Liquidation Bonus (USD): $2,027.81
Total Liquidator Bonus (USD): $1,419.46
Total Protocol Bonus (USD): $608.34

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
wstETH	6.455140	$20,996.76	$19,087.97	$1,908.80	$1,336.16	$572.64	4
OP	2,726.508140	$860.22	$782.02	$78.20	$54.74	$23.46	17
weETH	0.124691	$367.46	$334.05	$33.41	$23.38	$10.02	5
rETH	0.012043	$36.75	$33.41	$3.34	$2.34	$1.00	2
VELO	1,098.353800	$31.79	$28.90	$2.89	$2.02	$0.87	2
USDT0	8.240970	$8.24	$7.49	$0.75	$0.52	$0.22	5
WETH	0.001724	$4.64	$4.22	$0.42	$0.30	$0.13	2

Moonbeam

Asset	Current Borrow Cap	Average Borrow Cap Usage (Past Week)	Average Utilization
GLMR	0.10	7837.86M%	67.00%
xcDOT	0.10	19.68M%	47.74%
FRAX	0.10	198.00K%	46.58%
xcUSDC	0.10	26.97M%	45.23%
xcUSDT	0.10	24.58M%	30.39%
USDC.wh	0.10	21.93M%	22.03%
BTC.wh	0.10	93.00%	7.82%
ETH.wh	0.10	1.10K%	3.52%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
GLMR	+1% from 7.79M GLMR to 7.89M GLMR	+4% from 11.32M GLMR to 11.77M GLMR	-3% from 68.79% to 67.07%
xcDOT	-1% from 19.82K xcDOT to 19.66K xcDOT	-0% from 1.12M xcDOT to 1.12M xcDOT	+0% from 47.69% to 47.80%
FRAX	-18% from 238.24 FRAX to 194.50 FRAX	-0% from 38.77K FRAX to 38.75K FRAX	-0% from 46.68% to 46.58%
xcUSDC	-1% from 27.16K xcUSDC to 26.91K xcUSDC	-1% from 60.59K xcUSDC to 60.00K xcUSDC	+0% from 44.82% to 44.84%
xcUSDT	-3% from 25.07K xcUSDT to 24.27K xcUSDT	+0% from 80.85K xcUSDT to 80.87K xcUSDT	-3% from 31.01% to 30.01%
USDC.wh	-4% from 22.48K USDC.wh to 21.59K USDC.wh	+0% from 99.56K USDC.wh to 99.59K USDC.wh	-4% from 22.59% to 21.68%
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 7.82% to 7.82%
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 3.53%

Liquidations

Total liquidations: 45
Total Collateral Seized (USD): $1,601.88
Total Debt Repaid (USD): $1,456.26
Total Liquidation Bonus (USD): $145.63
Total Liquidator Bonus (USD): $101.94
Total Protocol Bonus (USD): $43.69

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
xcDOT	629.832884	$1,438.37	$1,307.61	$130.76	$91.53	$39.23	37
GLMR	5,374.570200	$148.69	$135.17	$13.52	$9.46	$4.06	5
xcUSDT	14.246870	$14.24	$12.94	$1.29	$0.91	$0.39	2
ETH_wh	0.000214	$0.59	$0.54	$0.05	$0.04	$0.02	1

Moonriver

Asset	Current Borrow Cap	Average Borrow Cap Usage (Past Week)	Average Utilization
xcKSM	0.10	6.51M%	45.10%
FRAX	0.10	51.16M%	15.87%
MOVR	0.10	3.57M%	2.58%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
xcKSM	+0% from 6.48K xcKSM to 6.51K xcKSM	+0% from 14.41K xcKSM to 14.43K xcKSM	+0% from 45.00% to 45.13%
FRAX	-1% from 51.31K FRAX to 51.01K FRAX	-0% from 322.42K FRAX to 322.25K FRAX	-1% from 15.91% to 15.83%
MOVR	+0% from 3.57K MOVR to 3.57K MOVR	-0% from 138.62K MOVR to 138.41K MOVR	+0% from 2.57% to 2.58%

Liquidations

Total liquidations: 2
Total Collateral Seized (USD): $19.73
Total Debt Repaid (USD): $17.94
Total Liquidation Bonus (USD): $1.79
Total Liquidator Bonus (USD): $1.26
Total Protocol Bonus (USD): $0.54

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
MOVR	6.686920	$19.73	$17.94	$1.79	$1.26	$0.54	2

AnthiasLabs · December 4, 2025, 5:40pm

Weekly Update (11/28/25 - 12/4/25)

Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, Moonbeam, and Moonriver. Data from 11/28/25 to 12/4/25. 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
USDS	690.00K	750.00K	1.01%	1.06%	88.33%
USDC	184.00M	200.00M	14.99%	17.29%	79.93%
EURC	21.00M	21.90M	6.24%	8.13%	73.93%
DAI	300.00K	400.00K	5.27%	5.63%	70.25%
WETH	64.00K	96.00K	9.83%	9.72%	67.38%
VIRTUAL	10.00K	4.50M	19.54K%	71.67%	60.64%
cbXRP	1.60M	5.00M	87.44%	54.11%	51.71%
AERO	25.00M	70.00M	20.01%	29.05%	24.63%
tBTC	5.00	90.00	21.94%	5.63%	21.67%
LBTC	10.00	95.00	58.24%	28.84%	21.26%
MAMO	3.00M	20.00M	14.41%	10.67%	20.27%
cbBTC	640.00	1.50K	8.91%	22.69%	16.78%
weETH	200.00	5.40K	7.01%	1.66%	15.61%
USDbC	1.00	1.00	107.87K%	846.73K%	12.74%
WELL	10.00M	250.00M	148.74%	79.69%	7.47%
cbETH	6.40K	16.00K	1.53%	8.28%	7.41%
MORPHO	100.00K	6.00M	221.13%	89.57%	4.11%
wstETH	4.80K	14.40K	3.26%	26.97%	4.04%
rETH	200.00	2.60K	10.41%	31.44%	2.55%
wrsETH	0.00	1.00	0.00%	9.25K%	0.02%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
USDS	+0% from 6.99K USDS to 7.02K USDS	-5% from 8.05K USDS to 7.66K USDS	+5% from 86.94% to 91.67%
USDC	-12% from 29.19M USDC to 25.65M USDC	-11% from 36.74M USDC to 32.64M USDC	-1% from 79.45% to 78.58%
EURC	-0% from 1.31M EURC to 1.31M EURC	-0% from 1.73M EURC to 1.72M EURC	-0% from 75.99% to 75.85%
DAI	+4% from 12.57K DAI to 13.04K DAI	+1% from 22.32K DAI to 22.60K DAI	+2% from 56.31% to 57.71%
WETH	+6% from 6.50K WETH to 6.86K WETH	-3% from 10.01K WETH to 9.69K WETH	+9% from 64.93% to 70.84%
VIRTUAL	+0% from 1.95M VIRTUAL to 1.96M VIRTUAL	+29% from 3.16M VIRTUAL to 4.07M VIRTUAL	-22% from 61.84% to 48.13%
cbXRP	+6% from 1.39M cbXRP to 1.47M cbXRP	+1% from 2.67M cbXRP to 2.69M cbXRP	+5% from 51.98% to 54.48%
AERO	+28% from 4.38M AERO to 5.62M AERO	-3% from 20.76M AERO to 20.13M AERO	+32% from 21.11% to 27.90%
tBTC	+0% from 1.13 tBTC to 1.13 tBTC	-11% from 5.56 tBTC to 4.94 tBTC	+13% from 20.41% to 22.98%
LBTC	-1% from 5.87 LBTC to 5.80 LBTC	+1% from 27.30 LBTC to 27.54 LBTC	-2% from 21.51% to 21.08%
MAMO	+5% from 423.90K MAMO to 446.81K MAMO	+6% from 2.04M MAMO to 2.16M MAMO	-0% from 20.77% to 20.69%
cbBTC	+1% from 55.97 cbBTC to 56.28 cbBTC	-7% from 351.55 cbBTC to 325.47 cbBTC	+9% from 15.92% to 17.29%
weETH	-0% from 13.99 weETH to 13.95 weETH	-1% from 90.31 weETH to 89.59 weETH	+1% from 15.49% to 15.57%
USDbC	-0% from 1.08K USDbC to 1.08K USDbC	-0% from 8.47K USDbC to 8.46K USDbC	-0% from 12.74% to 12.73%
WELL	-6% from 15.40M WELL to 14.48M WELL	+1% from 197.59M WELL to 199.37M WELL	-7% from 7.79% to 7.26%
cbETH	-1% from 98.78 cbETH to 98.00 cbETH	-2% from 1.33K cbETH to 1.31K cbETH	+1% from 7.41% to 7.48%
MORPHO	-1% from 221.91K MORPHO to 220.70K MORPHO	-0% from 5.38M MORPHO to 5.37M MORPHO	-1% from 4.13% to 4.11%
wstETH	+0% from 156.54 wstETH to 156.98 wstETH	-1% from 3.89K wstETH to 3.86K wstETH	+1% from 4.03% to 4.07%
rETH	+0% from 20.81 rETH to 20.83 rETH	-2% from 828.09 rETH to 811.15 rETH	+2% from 2.51% to 2.57%
wrsETH	0% from 0.02 wrsETH to 0.02 wrsETH	-2% from 92.69 wrsETH to 90.69 wrsETH	+2% from 0.02% to 0.02%

Notable Trends

USDC supply -11% (36.74M → 32.64M USDC)
AERO borrows +28% (4.38M → 5.62M AERO)
VIRTUAL supply +29% (3.16M → 4.07M VIRTUAL)

Liquidations

Total liquidations: 89
Total Collateral Seized (USD): $49,145.00
Total Debt Repaid (USD): $44,677.27
Total Liquidation Bonus (USD): $4,467.73
Total Liquidator Bonus (USD): $3,127.41
Total Protocol Bonus (USD): $1,340.32

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
AERO	73,087.691573	$43,894.22	$39,903.84	$3,990.38	$2,793.27	$1,197.12	42
cbBTC	0.020062	$1,722.33	$1,565.76	$156.58	$109.60	$46.97	5
WETH	0.477561	$1,508.31	$1,371.19	$137.12	$95.98	$41.14	18
VIRTUAL	996.490000	$813.27	$739.34	$73.93	$51.75	$22.18	5
EURC	490.649400	$569.20	$517.46	$51.75	$36.22	$15.52	3
cbXRP	131.553460	$287.29	$261.17	$26.12	$18.28	$7.84	6
WELL	22,338.520000	$200.90	$182.64	$18.26	$12.78	$5.48	2
weETH	0.027882	$85.26	$77.51	$7.75	$5.43	$2.33	1
USDC	42.339720	$42.33	$38.48	$3.85	$2.69	$1.15	5
MORPHO	14.190500	$21.56	$19.60	$1.96	$1.37	$0.59	1
rETH	0.000097	$0.34	$0.31	$0.03	$0.02	$0.01	1

OP Mainnet

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
WETH	30.00K	32.00K	7.72%	9.14%	79.21%
DAI	4.50M	4.80M	0.87%	1.25%	65.49%
USDC	34.00M	36.40M	2.11%	3.07%	63.85%
USDT0	8.00M	10.00M	0.90%	1.14%	63.33%
WBTC	0.00	0.00	0.00%	0.00%	61.62%
cbETH	0.00	10.00	0.00%	2.69%	37.28%
USDT	18.40M	22.60M	0.47%	1.10%	35.51%
OP	650.00K	5.60M	36.49%	16.17%	26.07%
VELO	20.00M	80.00M	47.04%	57.62%	20.41%
rETH	340.00	750.00	1.00%	3.60%	12.65%
wstETH	1.50K	5.00K	0.99%	2.99%	9.98%
weETH	220.00	1.20K	0.72%	3.92%	3.36%
wrsETH	0.00	0.00	0.00%	0.00%	1.64%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
WETH	+6% from 2.23K WETH to 2.35K WETH	+6% from 2.81K WETH to 2.98K WETH	-0% from 79.25% to 78.95%
DAI	-0% from 39.17K DAI to 39.05K DAI	+0% from 59.75K DAI to 59.79K DAI	-0% from 65.55% to 65.32%
USDC	+2% from 765.50K USDC to 781.22K USDC	-1% from 1.15M USDC to 1.14M USDC	+3% from 66.35% to 68.27%
USDT0	+7% from 69.25K USDT0 to 73.88K USDT0	-1% from 114.32K USDT0 to 113.18K USDT0	+8% from 60.57% to 65.28%
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%
cbETH	+0% from 0.10 cbETH to 0.10 cbETH	+3% from 0.27 cbETH to 0.27 cbETH	-3% from 37.73% to 36.64%
USDT	+13% from 82.48K USDT to 92.80K USDT	+3% from 260.21K USDT to 268.75K USDT	+9% from 31.70% to 34.53%
OP	+48% from 202.28K OP to 298.49K OP	+12% from 867.91K OP to 974.64K OP	+31% from 23.31% to 30.63%
VELO	-2% from 9.22M VELO to 9.00M VELO	+3% from 45.61M VELO to 46.83M VELO	-5% from 20.22% to 19.23%
rETH	+31% from 3.41 rETH to 4.46 rETH	+4% from 26.97 rETH to 28.03 rETH	+26% from 12.63% to 15.93%
wstETH	+0% from 14.91 wstETH to 14.91 wstETH	+2% from 148.24 wstETH to 151.60 wstETH	-2% from 10.06% to 9.83%
weETH	+0% from 1.58 weETH to 1.58 weETH	+0% from 47.01 weETH to 47.01 weETH	+0% from 3.36% to 3.36%
wrsETH	0% from 0.28 wrsETH to 0.28 wrsETH	-7% from 17.18 wrsETH to 16.01 wrsETH	+7% from 1.61% to 1.73%

Notable Trends

OP supply +12% (867.91K → 974.64K OP)
OP borrows +48% (202.28K → 298.49K OP)

Liquidations

Total liquidations: 12
Total Collateral Seized (USD): $124.15
Total Debt Repaid (USD): $112.87
Total Liquidation Bonus (USD): $11.29
Total Liquidator Bonus (USD): $7.90
Total Protocol Bonus (USD): $3.39

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
VELO	3,969.575000	$112.17	$101.98	$10.20	$7.14	$3.06	8
OP	41.690975	$11.98	$10.89	$1.09	$0.76	$0.33	4

Moonbeam

Asset	Current Borrow Cap	Average Borrow Cap Usage (Past Week)	Average Utilization
GLMR	0.10	7948.25M%	68.56%
xcDOT	0.10	19.62M%	47.85%
FRAX	0.10	194.50K%	46.58%
xcUSDC	0.10	25.56M%	43.25%
xcUSDT	0.10	23.45M%	29.00%
USDC.wh	0.10	20.98M%	21.06%
BTC.wh	0.10	93.00%	7.82%
ETH.wh	0.10	1.10K%	3.66%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
GLMR	+2% from 7.89M GLMR to 8.01M GLMR	-2% from 11.77M GLMR to 11.51M GLMR	+4% from 67.07% to 69.63%
xcDOT	-0% from 19.66K xcDOT to 19.61K xcDOT	-0% from 1.12M xcDOT to 1.11M xcDOT	+0% from 47.80% to 47.88%
FRAX	0% from 194.50 FRAX to 194.50 FRAX	0% from 38.75K FRAX to 38.75K FRAX	0% from 46.58% to 46.58%
xcUSDC	-10% from 26.91K xcUSDC to 24.28K xcUSDC	-4% from 60.01K xcUSDC to 57.67K xcUSDC	-6% from 44.84% to 42.11%
xcUSDT	-7% from 24.28K xcUSDT to 22.63K xcUSDT	-0% from 80.88K xcUSDT to 80.88K xcUSDT	-7% from 30.02% to 27.98%
USDC.wh	-6% from 21.59K USDC.wh to 20.40K USDC.wh	+0% from 99.59K USDC.wh to 99.60K USDC.wh	-6% from 21.68% to 20.48%
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 7.82% to 7.82%
ETH.wh	+0% from 1.10 ETH.wh to 1.10 ETH.wh	-5% from 31.10 ETH.wh to 29.61 ETH.wh	+5% from 3.53% to 3.71%

Liquidations

Total liquidations: 66
Total Collateral Seized (USD): $5,448.40
Total Debt Repaid (USD): $4,953.09
Total Liquidation Bonus (USD): $495.31
Total Liquidator Bonus (USD): $346.72
Total Protocol Bonus (USD): $148.59

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
xcDOT	2,312.011873	$4,740.11	$4,309.19	$430.92	$301.64	$129.28	35
GLMR	26,742.119360	$670.85	$609.86	$60.99	$42.69	$18.30	28
xcUSDC	22.779600	$22.77	$20.70	$2.07	$1.45	$0.62	1
xcUSDT	12.827900	$12.83	$11.66	$1.17	$0.82	$0.35	1
USDC_wh	1.838960	$1.84	$1.67	$0.17	$0.12	$0.05	1

Moonriver

Asset	Current Borrow Cap	Average Borrow Cap Usage (Past Week)	Average Utilization
xcKSM	0.10	6.51M%	47.04%
FRAX	0.10	50.98M%	15.82%
MOVR	0.10	3.20M%	2.35%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
xcKSM	-1% from 6.52K xcKSM to 6.48K xcKSM	-6% from 14.43K xcKSM to 13.59K xcKSM	+6% from 45.18% to 47.70%
FRAX	-0% from 51.01K FRAX to 50.92K FRAX	-0% from 322.25K FRAX to 322.16K FRAX	-0% from 15.83% to 15.81%
MOVR	-23% from 3.57K MOVR to 2.76K MOVR	-2% from 138.31K MOVR to 135.01K MOVR	-21% from 2.58% to 2.04%

Liquidations

Total liquidations: 17
Total Collateral Seized (USD): $2,097.66
Total Debt Repaid (USD): $1,906.97
Total Liquidation Bonus (USD): $190.70
Total Liquidator Bonus (USD): $133.49
Total Protocol Bonus (USD): $57.21

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
MOVR	572.027287	$1,759.12	$1,599.20	$159.92	$111.94	$47.98	14
xcKSM	27.676500	$240.38	$218.53	$21.85	$15.30	$6.56	1
FRAX	98.814300	$98.16	$89.24	$8.92	$6.25	$2.68	2

AnthiasLabs · December 11, 2025, 2:45pm

Weekly Update (12/5/25 - 12/11/25)

Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, Moonbeam, and Moonriver. Data from 12/5/25 to 12/11/25. 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
USDS	690.00K	750.00K	1.02%	1.07%	87.40%
USDC	184.00M	200.00M	14.05%	16.03%	81.27%
EURC	21.00M	21.90M	6.21%	8.27%	72.13%
WETH	64.00K	96.00K	8.72%	8.38%	69.09%
DAI	300.00K	400.00K	4.35%	5.65%	57.75%
cbXRP	1.60M	5.00M	86.76%	54.07%	51.36%
VIRTUAL	10.00K	4.50M	19.59K%	93.92%	46.37%
AERO	25.00M	70.00M	23.04%	28.91%	28.46%
MAMO	3.00M	20.00M	17.60%	11.11%	23.75%
LBTC	10.00	95.00	46.26%	28.02%	17.34%
cbBTC	640.00	1.50K	8.17%	21.70%	16.05%
weETH	200.00	5.40K	6.95%	1.67%	15.44%
tBTC	5.00	90.00	14.09%	5.17%	14.79%
USDbC	1.00	1.00	107.76K%	846.28K%	12.73%
cbETH	6.40K	16.00K	1.59%	8.18%	7.77%
WELL	10.00M	250.00M	143.83%	79.86%	7.20%
wstETH	4.80K	14.40K	3.30%	26.74%	4.11%
MORPHO	100.00K	6.00M	220.47%	89.41%	4.11%
rETH	200.00	2.60K	10.44%	31.20%	2.57%
wrsETH	0.00	1.00	0.00%	8.85K%	0.02%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
USDS	-1% from 7.02K USDS to 6.98K USDS	+14% from 7.66K USDS to 8.74K USDS	-13% from 91.67% to 79.82%
USDC	+1% from 25.67M USDC to 25.89M USDC	-2% from 32.59M USDC to 31.95M USDC	+3% from 78.77% to 81.04%
EURC	+0% from 1.31M EURC to 1.31M EURC	+2% from 1.72M EURC to 1.76M EURC	-2% from 75.85% to 74.14%
WETH	-10% from 6.86K WETH to 6.18K WETH	-11% from 9.69K WETH to 8.61K WETH	+1% from 70.82% to 71.79%
DAI	+0% from 13.04K DAI to 13.07K DAI	-0% from 22.60K DAI to 22.58K DAI	+0% from 57.71% to 57.88%
cbXRP	-8% from 1.47M cbXRP to 1.35M cbXRP	+2% from 2.69M cbXRP to 2.76M cbXRP	-10% from 54.49% to 49.02%
VIRTUAL	+0% from 1.96M VIRTUAL to 1.96M VIRTUAL	+5% from 4.07M VIRTUAL to 4.28M VIRTUAL	-5% from 48.11% to 45.83%
AERO	+13% from 5.61M AERO to 6.37M AERO	+4% from 19.94M AERO to 20.70M AERO	+9% from 28.15% to 30.77%
MAMO	-33% from 446.81K MAMO to 297.93K MAMO	+6% from 2.16M MAMO to 2.28M MAMO	-37% from 20.69% to 13.07%
LBTC	-39% from 5.80 LBTC to 3.52 LBTC	+0% from 27.54 LBTC to 27.57 LBTC	-39% from 21.08% to 12.75%
cbBTC	-7% from 56.46 cbBTC to 52.41 cbBTC	-1% from 325.44 cbBTC to 322.04 cbBTC	-6% from 17.35% to 16.27%
weETH	-0% from 13.95 weETH to 13.94 weETH	-3% from 89.59 weETH to 86.84 weETH	+3% from 15.57% to 16.06%
tBTC	-26% from 1.13 tBTC to 0.84 tBTC	-6% from 5.04 tBTC to 4.74 tBTC	-22% from 22.53% to 17.64%
USDbC	+0% from 1.08K USDbC to 1.08K USDbC	-0% from 8.46K USDbC to 8.46K USDbC	+0% from 12.73% to 12.74%
cbETH	+11% from 98.00 cbETH to 108.90 cbETH	-0% from 1.31K cbETH to 1.30K cbETH	+12% from 7.48% to 8.35%
WELL	-1% from 14.48M WELL to 14.34M WELL	+0% from 199.37M WELL to 200.12M WELL	-1% from 7.26% to 7.16%
wstETH	+1% from 156.98 wstETH to 158.66 wstETH	+0% from 3.85K wstETH to 3.86K wstETH	+1% from 4.07% to 4.11%
MORPHO	-0% from 220.70K MORPHO to 220.22K MORPHO	-0% from 5.37M MORPHO to 5.36M MORPHO	-0% from 4.11% to 4.11%
rETH	+0% from 20.83 rETH to 20.90 rETH	-0% from 811.15 rETH to 811.14 rETH	+0% from 2.57% to 2.58%
wrsETH	0% from 0.02 wrsETH to 0.02 wrsETH	-2% from 90.69 wrsETH to 88.48 wrsETH	+2% from 0.02% to 0.02%

Notable Trends

WETH supply -11% (9.69K → 8.61K WETH)
AERO borrows +13% (5.61M → 6.37M AERO)
AERO supply +4% (19.94M → 20.70M AERO)

Liquidations

Total liquidations: 40
Total Collateral Seized (USD): $3,203.43
Total Debt Repaid (USD): $2,912.21
Total Liquidation Bonus (USD): $291.22
Total Liquidator Bonus (USD): $203.85
Total Protocol Bonus (USD): $87.37

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
USDC	2,946.537416	$2,946.00	$2,678.18	$267.82	$187.47	$80.35	3
MORPHO	102.322783	$128.93	$117.21	$11.72	$8.20	$3.52	3
AERO	85.444970	$56.14	$51.03	$5.10	$3.57	$1.53	6
WETH	0.009379	$30.66	$27.87	$2.79	$1.95	$0.84	24
cbBTC	0.000202	$18.97	$17.24	$1.72	$1.21	$0.52	2
weETH	0.004975	$17.91	$16.28	$1.63	$1.14	$0.49	1
EURC	4.152440	$4.83	$4.39	$0.44	$0.31	$0.13	1

Optimism

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
DAI	4.50M	4.80M	0.87%	1.25%	65.16%
USDC	34.00M	36.40M	1.88%	2.76%	62.70%
WBTC	0.00	0.00	0.00%	0.00%	61.62%
USDT0	8.00M	10.00M	0.86%	1.13%	60.97%
WETH	30.00K	32.00K	3.51%	5.06%	50.56%
cbETH	0.00	10.00	0.00%	2.74%	36.67%
USDT	18.40M	22.60M	0.52%	1.19%	35.40%
OP	650.00K	5.60M	52.20%	17.44%	34.75%
VELO	20.00M	80.00M	44.57%	57.33%	19.44%
rETH	340.00	750.00	0.81%	3.48%	10.47%
wstETH	1.50K	5.00K	0.51%	2.86%	5.16%
weETH	4.00	10.00	32.00%	467.08%	2.74%
wrsETH	0.00	0.00	0.00%	0.00%	1.81%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
DAI	-1% from 39.05K DAI to 38.75K DAI	+0% from 59.79K DAI to 59.83K DAI	-1% from 65.32% to 64.77%
USDC	-11% from 780.81K USDC to 691.10K USDC	-10% from 1.15M USDC to 1.03M USDC	-1% from 68.16% to 67.33%
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%
USDT0	-7% from 73.88K USDT0 to 68.67K USDT0	+1% from 113.18K USDT0 to 114.08K USDT0	-8% from 65.28% to 60.19%
WETH	-10% from 2.35K WETH to 2.13K WETH	-6% from 2.98K WETH to 2.80K WETH	-4% from 78.96% to 75.94%
cbETH	+0% from 0.10 cbETH to 0.10 cbETH	-0% from 0.27 cbETH to 0.27 cbETH	+0% from 36.64% to 36.79%
USDT	-4% from 92.80K USDT to 89.38K USDT	-7% from 268.75K USDT to 248.71K USDT	+4% from 34.53% to 35.94%
OP	+19% from 299.96K OP to 356.62K OP	-1% from 974.67K OP to 968.11K OP	+20% from 30.78% to 36.84%
VELO	+2% from 9.00M VELO to 9.17M VELO	-2% from 46.87M VELO to 45.71M VELO	+4% from 19.21% to 20.07%
rETH	-45% from 4.46 rETH to 2.46 rETH	-8% from 28.03 rETH to 25.74 rETH	-40% from 15.93% to 9.57%
wstETH	-61% from 14.91 wstETH to 5.77 wstETH	+6% from 151.60 wstETH to 160.50 wstETH	-63% from 9.83% to 3.59%
weETH	-32% from 1.58 weETH to 1.08 weETH	-1% from 47.01 weETH to 46.51 weETH	-31% from 3.36% to 2.33%
wrsETH	0% from 0.28 wrsETH to 0.28 wrsETH	-5% from 16.01 wrsETH to 15.14 wrsETH	+6% from 1.73% to 1.83%

Notable Trends

WETH borrows -10% (2.35K → 2.13K WETH)
WETH supply -6% (2.98K → 2.80K WETH)
USDC supply -10% (1.15M → 1.03M USDC)
USDC borrows -11% (780.81K → 691.10K USDC)
wstETH supply +6% (151.60 → 160.50 wstETH)

Liquidations

Total liquidations: 4
Total Collateral Seized (USD): $12.70
Total Debt Repaid (USD): $11.54
Total Liquidation Bonus (USD): $1.15
Total Liquidator Bonus (USD): $0.81
Total Protocol Bonus (USD): $0.35

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
VELO	401.746000	$10.92	$9.93	$0.99	$0.70	$0.30	1
USDT0	1.776274	$1.78	$1.61	$0.16	$0.11	$0.05	3

Moonbeam

Asset	Current Borrow Cap	Average Borrow Cap Usage (Past Week)	Average Utilization
GLMR	0.10	8079.46M%	71.05%
xcDOT	0.10	19.61M%	48.13%
FRAX	0.10	194.51K%	46.60%
xcUSDC	0.10	24.30M%	42.71%
xcUSDT	0.10	21.73M%	26.86%
USDC.wh	0.10	18.84M%	19.04%
BTC.wh	0.10	93.00%	7.82%
ETH.wh	0.10	1.10K%	3.84%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
GLMR	+2% from 8.01M GLMR to 8.15M GLMR	-1% from 11.52M GLMR to 11.46M GLMR	+2% from 69.56% to 71.14%
xcDOT	-0% from 19.61K xcDOT to 19.61K xcDOT	-1% from 1.11M xcDOT to 1.10M xcDOT	+1% from 47.88% to 48.25%
FRAX	+0% from 194.50 FRAX to 194.51 FRAX	-0% from 38.75K FRAX to 38.71K FRAX	+0% from 46.58% to 46.64%
xcUSDC	+0% from 24.28K xcUSDC to 24.31K xcUSDC	-3% from 57.67K xcUSDC to 56.02K xcUSDC	+3% from 42.11% to 43.40%
xcUSDT	-9% from 22.63K xcUSDT to 20.64K xcUSDT	+0% from 80.88K xcUSDT to 80.88K xcUSDT	-9% from 27.98% to 25.52%
USDC.wh	-16% from 20.40K USDC.wh to 17.20K USDC.wh	-1% from 99.60K USDC.wh to 98.60K USDC.wh	-15% from 20.48% to 17.45%
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 7.82% to 7.82%
ETH.wh	+0% from 1.10 ETH.wh to 1.10 ETH.wh	-7% from 29.61 ETH.wh to 27.58 ETH.wh	+7% from 3.71% to 3.98%

Liquidations

Total liquidations: 12
Total Collateral Seized (USD): $11.03
Total Debt Repaid (USD): $10.03
Total Liquidation Bonus (USD): $1.00
Total Liquidator Bonus (USD): $0.70
Total Protocol Bonus (USD): $0.30

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
xcDOT	3.169441	$6.63	$6.03	$0.60	$0.42	$0.18	8
FRAX	2.153660	$2.14	$1.95	$0.19	$0.14	$0.06	1
xcUSDT	2.048360	$2.05	$1.86	$0.19	$0.13	$0.06	1
GLMR	6.500139	$0.21	$0.19	$0.02	$0.01	$0.01	2

Moonriver

Asset	Current Borrow Cap	Average Borrow Cap Usage (Past Week)	Average Utilization
xcKSM	0.10	6.49M%	48.02%
FRAX	0.10	50.59M%	16.06%
MOVR	0.10	2.76M%	2.05%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
xcKSM	+0% from 6.49K xcKSM to 6.51K xcKSM	-0% from 13.52K xcKSM to 13.50K xcKSM	+0% from 47.98% to 48.19%
FRAX	-0% from 50.65K FRAX to 50.59K FRAX	-6% from 322.16K FRAX to 303.16K FRAX	+6% from 15.72% to 16.69%
MOVR	-1% from 2.76K MOVR to 2.73K MOVR	-1% from 135.00K MOVR to 134.31K MOVR	-0% from 2.04% to 2.03%

Liquidations

Total liquidations: 6
Total Collateral Seized (USD): $64.27
Total Debt Repaid (USD): $58.43
Total Liquidation Bonus (USD): $5.84
Total Liquidator Bonus (USD): $4.09
Total Protocol Bonus (USD): $1.75

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
MOVR	19.950320	$56.20	$51.09	$5.11	$3.58	$1.53	2
xcKSM	0.996818	$8.08	$7.34	$0.73	$0.51	$0.22	4

Additional Information

As a reminder, Moonwell is deprecating the Moonriver markets this month by gradually reducing collateral factors. This may cause users with existing positions to get liquidated. We released a list of addresses likely to be affected by the upcoming proposal here, please check if your address is in this list and close your outstanding positions on Moonriver.

AnthiasLabs · December 18, 2025, 4:18pm

Weekly Update (12/12/25 - 12/18/25)

Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, Moonbeam, and Moonriver. Data from 12/12/25 to 12/18/25. 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
USDS	690.00K	750.00K	1.14%	1.23%	85.54%
USDC	184.00M	200.00M	14.08%	16.40%	79.10%
WETH	64.00K	96.00K	9.37%	8.66%	72.22%
EURC	21.00M	21.90M	6.27%	8.45%	71.22%
DAI	300.00K	400.00K	4.17%	5.64%	55.48%
cbXRP	1.60M	5.00M	92.86%	56.16%	52.91%
VIRTUAL	10.00K	4.50M	19.63K%	95.74%	45.58%
AERO	25.00M	70.00M	25.83%	29.45%	31.33%
cbBTC	640.00	1.50K	8.32%	21.30%	16.67%
weETH	200.00	5.40K	6.90%	1.62%	15.79%
tBTC	5.00	90.00	14.54%	5.25%	15.37%
MAMO	3.00M	20.00M	12.29%	12.78%	14.81%
USDbC	1.00	1.00	107.77K%	845.12K%	12.75%
LBTC	10.00	95.00	30.03%	30.11%	10.49%
cbETH	6.40K	16.00K	1.70%	8.08%	8.41%
WELL	10.00M	250.00M	126.79%	79.60%	6.37%
wstETH	4.80K	14.40K	3.29%	26.37%	4.15%
MORPHO	100.00K	6.00M	220.19%	89.06%	4.12%
rETH	200.00	2.60K	10.45%	31.35%	2.56%
wrsETH	0.00	1.00	0.00%	8.54K%	0.02%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
USDS	+0% from 7.88K USDS to 7.89K USDS	+5% from 8.74K USDS to 9.22K USDS	-5% from 90.12% to 85.51%
USDC	-1% from 25.93M USDC to 25.74M USDC	+2% from 32.11M USDC to 32.90M USDC	-3% from 80.75% to 78.25%
WETH	-7% from 6.19K WETH to 5.76K WETH	-10% from 8.62K WETH to 7.74K WETH	+3% from 71.86% to 74.37%
EURC	-6% from 1.31M EURC to 1.23M EURC	+1% from 1.82M EURC to 1.83M EURC	-6% from 72.09% to 67.43%
DAI	-13% from 13.07K DAI to 11.38K DAI	-0% from 22.58K DAI to 22.56K DAI	-13% from 57.89% to 50.42%
cbXRP	+12% from 1.35M cbXRP to 1.50M cbXRP	+3% from 2.76M cbXRP to 2.83M cbXRP	+9% from 48.80% to 53.12%
VIRTUAL	+0% from 1.96M VIRTUAL to 1.96M VIRTUAL	+1% from 4.27M VIRTUAL to 4.33M VIRTUAL	-1% from 45.89% to 45.33%
AERO	+3% from 6.37M AERO to 6.58M AERO	-3% from 20.70M AERO to 20.19M AERO	+6% from 30.78% to 32.61%
cbBTC	+1% from 52.55 cbBTC to 53.03 cbBTC	+0% from 319.04 cbBTC to 319.13 cbBTC	+1% from 16.47% to 16.62%
weETH	-7% from 13.94 weETH to 12.95 weETH	+4% from 86.10 weETH to 89.19 weETH	-10% from 16.20% to 14.52%
tBTC	-24% from 0.84 tBTC to 0.64 tBTC	-5% from 4.84 tBTC to 4.62 tBTC	-20% from 17.28% to 13.78%
MAMO	+29% from 308.94K MAMO to 399.88K MAMO	+29% from 2.27M MAMO to 2.92M MAMO	+1% from 13.59% to 13.68%
USDbC	-0% from 1.08K USDbC to 1.08K USDbC	-0% from 8.46K USDbC to 8.44K USDbC	+0% from 12.74% to 12.75%
LBTC	-11% from 3.53 LBTC to 3.15 LBTC	+6% from 27.57 LBTC to 29.12 LBTC	-15% from 12.79% to 10.83%
cbETH	+0% from 108.90 cbETH to 108.92 cbETH	-2% from 1.30K cbETH to 1.28K cbETH	+2% from 8.36% to 8.52%
WELL	-17% from 14.34M WELL to 11.91M WELL	-0% from 199.96M WELL to 199.48M WELL	-17% from 7.17% to 5.97%
wstETH	-6% from 158.66 wstETH to 149.36 wstETH	-2% from 3.86K wstETH to 3.77K wstETH	-4% from 4.11% to 3.96%
MORPHO	-0% from 220.22K MORPHO to 220.17K MORPHO	-2% from 5.36M MORPHO to 5.27M MORPHO	+2% from 4.11% to 4.18%
rETH	-0% from 20.90 rETH to 20.89 rETH	+1% from 811.16 rETH to 815.92 rETH	-1% from 2.58% to 2.56%
wrsETH	-3% from 0.02 wrsETH to 0.01 wrsETH	-5% from 88.48 wrsETH to 84.38 wrsETH	+1% from 0.02% to 0.02%

Notable Trends

WETH supply -10% (8.62K → 7.74K WETH)
cbXRP borrows +12% (1.35M → 1.50M cbXRP)

Liquidations

Total liquidations: 201
Total Collateral Seized (USD): $126,167.45
Total Debt Repaid (USD): $114,697.69
Total Liquidation Bonus (USD): $11,469.77
Total Liquidator Bonus (USD): $8,028.84
Total Protocol Bonus (USD): $3,440.93

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
AERO	150,165.674802	$78,895.61	$71,723.28	$7,172.33	$5,020.63	$2,151.70	126
cbXRP	11,829.424571	$21,824.60	$19,840.55	$1,984.05	$1,388.84	$595.22	8
cbBTC	0.096141	$8,274.59	$7,522.36	$752.24	$526.57	$225.67	3
WETH	2.842633	$8,129.97	$7,390.88	$739.09	$517.36	$221.73	21
USDC	3,340.717046	$3,340.28	$3,036.62	$303.66	$212.56	$91.10	6
VIRTUAL	3,211.890230	$2,341.95	$2,129.04	$212.90	$149.03	$63.87	6
WELL	224,679.300000	$1,983.91	$1,803.55	$180.36	$126.25	$54.11	6
rETH	0.331952	$1,026.34	$933.04	$93.30	$65.31	$27.99	15
wstETH	0.036795	$131.84	$119.86	$11.99	$8.39	$3.60	2
EURC	105.936220	$124.50	$113.18	$11.32	$7.92	$3.40	2
MORPHO	51.222551	$57.92	$52.65	$5.27	$3.69	$1.58	4
weETH	0.009094	$30.53	$27.75	$2.78	$1.94	$0.83	1
USDS	5.420640	$5.42	$4.93	$0.49	$0.34	$0.15	1

OP Mainnet

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
WETH	30.00K	32.00K	8.50%	10.02%	79.42%
DAI	4.50M	4.80M	0.86%	1.24%	64.56%
USDC	34.00M	36.40M	1.97%	2.90%	63.51%
WBTC	0.00	0.00	0.00%	0.00%	61.62%
USDT0	8.00M	10.00M	0.86%	1.12%	61.36%
USDT	18.40M	22.60M	0.59%	0.86%	57.49%
cbETH	0.00	10.00	0.00%	2.73%	36.79%
OP	650.00K	5.60M	53.74%	17.46%	35.73%
VELO	20.00M	80.00M	43.96%	54.59%	20.16%
rETH	340.00	750.00	0.72%	3.40%	9.68%
wstETH	1.50K	5.00K	0.38%	3.47%	3.32%
weETH	4.00	10.00	27.06%	465.08%	2.33%
wrsETH	0.00	0.00	0.00%	0.00%	1.83%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
WETH	+30% from 2.13K WETH to 2.76K WETH	+22% from 2.80K WETH to 3.42K WETH	+6% from 75.94% to 80.77%
DAI	-1% from 38.75K DAI to 38.49K DAI	-0% from 59.83K DAI to 59.70K DAI	-0% from 64.77% to 64.47%
USDC	-11% from 690.72K USDC to 614.15K USDC	+3% from 1.03M USDC to 1.06M USDC	-14% from 67.26% to 57.85%
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%
USDT0	+0% from 68.67K USDT0 to 68.69K USDT0	-2% from 114.08K USDT0 to 111.25K USDT0	+3% from 60.19% to 61.74%
USDT	+25% from 111.38K USDT to 138.94K USDT	-29% from 248.71K USDT to 176.60K USDT	+76% from 44.78% to 78.68%
cbETH	0% from 0.10 cbETH to 0.10 cbETH	0% from 0.27 cbETH to 0.27 cbETH	0% from 36.79% to 36.79%
OP	-3% from 357.39K OP to 347.20K OP	+1% from 968.14K OP to 982.55K OP	-4% from 36.91% to 35.34%
VELO	-1% from 9.17M VELO to 9.03M VELO	-10% from 45.71M VELO to 40.95M VELO	+10% from 20.05% to 22.06%
rETH	+0% from 2.46 rETH to 2.46 rETH	-15% from 25.74 rETH to 21.86 rETH	+18% from 9.57% to 11.27%
wstETH	-0% from 5.77 wstETH to 5.76 wstETH	+8% from 160.50 wstETH to 173.18 wstETH	-7% from 3.59% to 3.33%
weETH	-0% from 1.08 weETH to 1.08 weETH	0% from 46.51 weETH to 46.51 weETH	-0% from 2.33% to 2.33%
wrsETH	0% from 0.28 wrsETH to 0.28 wrsETH	0% from 15.14 wrsETH to 15.14 wrsETH	0% from 1.83% to 1.83%

Notable Trends

WETH borrows +30% (2.13K → 2.76K WETH)
WETH supply +22% (2.80K → 3.42K WETH)
USDT supply -29% (248.71K → 176.60K USDT)

Liquidations

Total liquidations: 205
Total Collateral Seized (USD): $17,573.81
Total Debt Repaid (USD): $15,976.19
Total Liquidation Bonus (USD): $1,597.62
Total Liquidator Bonus (USD): $1,118.33
Total Protocol Bonus (USD): $479.29

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
rETH	3.991611	$12,468.46	$11,334.96	$1,133.50	$793.45	$340.05	171
VELO	204,636.238450	$4,715.74	$4,287.03	$428.70	$300.09	$128.61	24
OP	1,283.727754	$349.97	$318.16	$31.82	$22.27	$9.54	9
USDT0	39.637300	$39.64	$36.04	$3.60	$2.52	$1.08	1

Moonbeam

Asset	Current Borrow Cap	Average Borrow Cap Usage (Past Week)	Average Utilization
GLMR	0.10	8223.95M%	70.21%
xcDOT	0.10	19.61M%	48.21%
FRAX	0.10	194.49K%	46.64%
xcUSDC	0.10	21.81M%	39.60%
xcUSDT	0.10	20.51M%	25.35%
USDC.wh	0.10	16.63M%	16.87%
BTC.wh	0.10	93.00%	7.82%
ETH.wh	0.10	1.10K%	3.98%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
GLMR	+2% from 8.16M GLMR to 8.29M GLMR	+4% from 11.46M GLMR to 11.93M GLMR	-2% from 71.16% to 69.45%
xcDOT	+0% from 19.61K xcDOT to 19.62K xcDOT	+0% from 1.10M xcDOT to 1.11M xcDOT	-0% from 48.26% to 48.23%
FRAX	-0% from 194.51 FRAX to 194.27 FRAX	+0% from 38.71K FRAX to 38.71K FRAX	-0% from 46.64% to 46.64%
xcUSDC	-27% from 24.32K xcUSDC to 17.73K xcUSDC	+0% from 55.05K xcUSDC to 55.15K xcUSDC	-27% from 44.17% to 32.14%
xcUSDT	-4% from 20.64K xcUSDT to 19.88K xcUSDT	+0% from 80.88K xcUSDT to 80.90K xcUSDT	-4% from 25.52% to 24.57%
USDC.wh	-10% from 17.20K USDC.wh to 15.54K USDC.wh	-0% from 98.60K USDC.wh to 98.52K USDC.wh	-10% from 17.45% to 15.77%
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 7.82% to 7.82%
ETH.wh	+0% from 1.10 ETH.wh to 1.10 ETH.wh	+0% from 27.58 ETH.wh to 27.58 ETH.wh	+0% from 3.98% to 3.99%

Liquidations

Total liquidations: 87
Total Collateral Seized (USD): $9,549.90
Total Debt Repaid (USD): $8,681.73
Total Liquidation Bonus (USD): $868.17
Total Liquidator Bonus (USD): $607.72
Total Protocol Bonus (USD): $260.45

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
xcDOT	3,995.444520	$7,604.11	$6,912.83	$691.28	$483.90	$207.38	54
GLMR	77,449.494941	$1,891.21	$1,719.28	$171.93	$120.35	$51.58	17
xcUSDC	53.682180	$53.68	$48.80	$4.88	$3.42	$1.46	15
ETH_wh	0.000319	$0.90	$0.81	$0.08	$0.06	$0.02	1

Moonriver

Asset	Current Borrow Cap	Average Borrow Cap Usage (Past Week)	Average Utilization
xcKSM	0.10	6.40M%	47.93%
FRAX	0.10	50.38M%	17.61%
MOVR	0.10	2.41M%	1.82%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
xcKSM	-2% from 6.51K xcKSM to 6.39K xcKSM	-2% from 13.50K xcKSM to 13.22K xcKSM	+0% from 48.19% to 48.36%
FRAX	-2% from 50.59K FRAX to 49.82K FRAX	-6% from 303.16K FRAX to 283.72K FRAX	+5% from 16.69% to 17.56%
MOVR	-13% from 2.73K MOVR to 2.38K MOVR	-1% from 134.31K MOVR to 132.35K MOVR	-12% from 2.03% to 1.80%

Liquidations

Total liquidations: 23
Total Collateral Seized (USD): $983.33
Total Debt Repaid (USD): $893.93
Total Liquidation Bonus (USD): $89.39
Total Liquidator Bonus (USD): $62.58
Total Protocol Bonus (USD): $26.82

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
MOVR	200.490741	$516.25	$469.32	$46.93	$32.85	$14.08	18
xcKSM	65.959186	$467.08	$424.62	$42.46	$29.72	$12.74	5

AnthiasLabs · December 25, 2025, 2:52pm

Weekly Update (12/19/25 - 12/25/25)

Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, Moonbeam, and Moonriver. Data from 12/19/25 to 12/25/25. 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
USDS	690.00K	750.00K	1.07%	1.24%	79.42%
USDC	184.00M	200.00M	13.95%	16.26%	78.94%
WETH	64.00K	96.00K	8.71%	7.82%	74.22%
EURC	21.00M	21.90M	5.85%	8.45%	66.66%
cbXRP	1.60M	5.00M	94.82%	57.12%	53.12%
DAI	300.00K	400.00K	3.98%	5.64%	52.87%
VIRTUAL	10.00K	4.50M	19.65K%	96.58%	45.21%
AERO	25.00M	70.00M	25.35%	28.80%	31.44%
cbBTC	640.00	1.50K	8.05%	21.13%	16.26%
weETH	200.00	5.40K	6.47%	1.65%	14.52%
tBTC	5.00	90.00	12.74%	5.10%	13.89%
USDbC	1.00	1.00	104.22K%	844.16K%	12.35%
MAMO	3.00M	20.00M	11.42%	15.19%	11.34%
LBTC	10.00	95.00	32.02%	31.10%	10.84%
cbETH	6.40K	16.00K	1.71%	7.87%	8.71%
WELL	10.00M	250.00M	118.95%	77.43%	6.15%
MORPHO	100.00K	6.00M	220.15%	90.56%	4.06%
wstETH	4.80K	14.40K	3.11%	26.54%	3.90%
rETH	200.00	2.60K	10.43%	31.58%	2.54%
wrsETH	0.00	1.00	0.00%	8.37K%	0.02%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
USDS	+1% from 7.89K USDS to 7.95K USDS	+1% from 9.22K USDS to 9.33K USDS	-0% from 85.51% to 85.24%
USDC	+1% from 25.68M USDC to 25.82M USDC	-1% from 32.85M USDC to 32.58M USDC	+1% from 78.18% to 79.24%
WETH	-5% from 5.75K WETH to 5.45K WETH	-4% from 7.74K WETH to 7.43K WETH	-1% from 74.35% to 73.32%
EURC	-1% from 1.24M EURC to 1.23M EURC	+1% from 1.76M EURC to 1.77M EURC	-1% from 70.38% to 69.42%
cbXRP	+6% from 1.50M cbXRP to 1.60M cbXRP	+1% from 2.84M cbXRP to 2.88M cbXRP	+5% from 52.89% to 55.61%
DAI	+7% from 11.34K DAI to 12.13K DAI	+0% from 22.56K DAI to 22.58K DAI	+7% from 50.26% to 53.69%
VIRTUAL	+0% from 1.96M VIRTUAL to 1.97M VIRTUAL	+0% from 4.32M VIRTUAL to 4.33M VIRTUAL	-0% from 45.40% to 45.39%
AERO	-9% from 6.68M AERO to 6.11M AERO	+0% from 20.25M AERO to 20.28M AERO	-9% from 32.98% to 30.11%
cbBTC	-6% from 53.02 cbBTC to 49.79 cbBTC	-1% from 319.13 cbBTC to 315.83 cbBTC	-5% from 16.61% to 15.76%
weETH	+0% from 12.95 weETH to 12.95 weETH	-0% from 89.19 weETH to 89.18 weETH	+0% from 14.52% to 14.52%
tBTC	+0% from 0.64 tBTC to 0.64 tBTC	-2% from 4.62 tBTC to 4.52 tBTC	+2% from 13.78% to 14.09%
USDbC	-3% from 1.08K USDbC to 1.04K USDbC	-0% from 8.44K USDbC to 8.44K USDbC	-3% from 12.75% to 12.32%
MAMO	-29% from 399.88K MAMO to 285.37K MAMO	+6% from 2.92M MAMO to 3.11M MAMO	-33% from 13.68% to 9.17%
LBTC	+3% from 3.15 LBTC to 3.24 LBTC	+1% from 29.12 LBTC to 29.29 LBTC	+2% from 10.83% to 11.07%
cbETH	+1% from 108.92 cbETH to 109.66 cbETH	+0% from 1.26K cbETH to 1.26K cbETH	+1% from 8.66% to 8.72%
WELL	-0% from 11.91M WELL to 11.89M WELL	-3% from 199.53M WELL to 194.24M WELL	+3% from 5.97% to 6.12%
MORPHO	-0% from 220.17K MORPHO to 220.15K MORPHO	+12% from 5.27M MORPHO to 5.92M MORPHO	-11% from 4.18% to 3.72%
wstETH	-0% from 149.36 wstETH to 149.11 wstETH	+3% from 3.77K wstETH to 3.88K wstETH	-3% from 3.96% to 3.84%
rETH	-0% from 20.89 rETH to 20.82 rETH	+1% from 815.99 rETH to 824.18 rETH	-1% from 2.56% to 2.53%
wrsETH	0% from 0.01 wrsETH to 0.01 wrsETH	-1% from 84.38 wrsETH to 83.38 wrsETH	+1% from 0.02% to 0.02%

Notable Trends

MORPHO supply +12% (5.27M → 5.92M MORPHO)

Liquidations

Total liquidations: 49
Total Collateral Seized (USD): $66,710.94
Total Debt Repaid (USD): $60,646.31
Total Liquidation Bonus (USD): $6,064.63
Total Liquidator Bonus (USD): $4,245.24
Total Protocol Bonus (USD): $1,819.39

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
WELL	7,550,771.196000	$59,630.79	$54,209.81	$5,420.98	$3,794.69	$1,626.29	11
USDC	4,104.339750	$4,103.53	$3,730.49	$373.05	$261.13	$111.91	6
AERO	5,529.293620	$2,572.81	$2,338.92	$233.89	$163.72	$70.17	13
cbXRP	138.822010	$247.34	$224.85	$22.49	$15.74	$6.75	2
WETH	0.048694	$144.37	$131.25	$13.12	$9.19	$3.94	14
cbETH	0.002681	$9.06	$8.24	$0.82	$0.58	$0.25	1
EURC	2.581330	$3.02	$2.75	$0.27	$0.19	$0.08	2

OP Mainnet

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
WETH	30.00K	32.00K	7.61%	8.94%	79.72%
USDT	18.40M	22.60M	0.63%	0.70%	73.34%
DAI	4.50M	4.80M	0.86%	1.24%	64.47%
USDT0	8.00M	10.00M	0.86%	1.11%	61.99%
WBTC	0.00	0.00	0.00%	0.00%	61.62%
USDC	34.00M	36.40M	1.45%	2.63%	51.24%
cbETH	0.00	10.00	0.00%	2.73%	36.79%
OP	650.00K	5.60M	54.29%	17.60%	35.81%
VELO	20.00M	80.00M	46.49%	47.80%	24.32%
rETH	340.00	750.00	0.72%	2.92%	11.27%
wstETH	1.50K	5.00K	0.38%	3.43%	3.33%
weETH	4.00	10.00	27.04%	462.73%	2.34%
wrsETH	0.00	0.00	0.00%	0.00%	1.83%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
WETH	-1% from 2.29K WETH to 2.27K WETH	-0% from 2.86K WETH to 2.86K WETH	-1% from 80.16% to 79.38%
USDT	-27% from 138.95K USDT to 101.44K USDT	-20% from 176.61K USDT to 140.96K USDT	-9% from 78.68% to 71.97%
DAI	+0% from 38.49K DAI to 38.52K DAI	+0% from 59.70K DAI to 59.74K DAI	+0% from 64.47% to 64.48%
USDT0	+0% from 68.69K USDT0 to 68.74K USDT0	-1% from 111.25K USDT0 to 110.53K USDT0	+1% from 61.74% to 62.20%
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%
USDC	-29% from 612.62K USDC to 437.26K USDC	-16% from 1.05M USDC to 884.95K USDC	-15% from 58.13% to 49.41%
cbETH	0% from 0.10 cbETH to 0.10 cbETH	0% from 0.27 cbETH to 0.27 cbETH	0% from 36.79% to 36.79%
OP	+4% from 347.20K OP to 362.24K OP	+1% from 982.54K OP to 994.35K OP	+3% from 35.34% to 36.43%
VELO	-5% from 9.70M VELO to 9.23M VELO	-7% from 40.71M VELO to 37.89M VELO	+2% from 23.84% to 24.36%
rETH	0% from 2.46 rETH to 2.46 rETH	0% from 21.86 rETH to 21.86 rETH	0% from 11.27% to 11.27%
wstETH	-3% from 5.76 wstETH to 5.59 wstETH	-4% from 173.18 wstETH to 166.80 wstETH	+1% from 3.33% to 3.35%
weETH	-0% from 1.08 weETH to 1.08 weETH	-1% from 46.51 weETH to 46.12 weETH	+1% from 2.33% to 2.34%
wrsETH	0% from 0.28 wrsETH to 0.28 wrsETH	0% from 15.14 wrsETH to 15.14 wrsETH	0% from 1.83% to 1.83%

Notable Trends

USDC borrows -29% (612.62K → 437.26K USDC)
USDC supply -16% (1.05M → 884.95K USDC)

Liquidations

No liquidation events this week.

Moonbeam

Asset	Current Borrow Cap	Average Borrow Cap Usage (Past Week)	Average Utilization
GLMR	0.10	8360.53M%	69.73%
xcDOT	0.10	19.62M%	48.21%
FRAX	0.10	194.27K%	46.64%
xcUSDC	0.10	17.54M%	31.82%
xcUSDT	0.10	19.03M%	23.52%
USDC.wh	0.10	15.15M%	15.37%
BTC.wh	0.10	97.87%	8.23%
ETH.wh	0.10	1.09K%	3.96%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
GLMR	+2% from 8.30M GLMR to 8.43M GLMR	+1% from 11.94M GLMR to 12.05M GLMR	+1% from 69.48% to 69.93%
xcDOT	+0% from 19.62K xcDOT to 19.62K xcDOT	+0% from 1.10M xcDOT to 1.11M xcDOT	-0% from 48.25% to 48.21%
FRAX	0% from 194.27 FRAX to 194.27 FRAX	0% from 38.71K FRAX to 38.71K FRAX	0% from 46.64% to 46.64%
xcUSDC	-1% from 17.73K xcUSDC to 17.51K xcUSDC	+0% from 55.15K xcUSDC to 55.20K xcUSDC	-1% from 32.15% to 31.71%
xcUSDT	-2% from 19.34K xcUSDT to 19.02K xcUSDT	-0% from 80.90K xcUSDT to 80.89K xcUSDT	-2% from 23.91% to 23.51%
USDC.wh	-3% from 15.43K USDC.wh to 14.92K USDC.wh	+0% from 98.52K USDC.wh to 98.54K USDC.wh	-3% from 15.66% to 15.14%
BTC.wh	+7% from 0.09 BTC.wh to 0.10 BTC.wh	+0% from 1.19 BTC.wh to 1.19 BTC.wh	+7% from 7.82% to 8.40%
ETH.wh	-1% from 1.10 ETH.wh to 1.09 ETH.wh	-0% from 27.58 ETH.wh to 27.56 ETH.wh	-1% from 3.99% to 3.96%

Liquidations

Total liquidations: 42
Total Collateral Seized (USD): $381.37
Total Debt Repaid (USD): $346.70
Total Liquidation Bonus (USD): $34.67
Total Liquidator Bonus (USD): $24.27
Total Protocol Bonus (USD): $10.40

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
xcDOT	207.113232	$355.74	$323.40	$32.34	$22.64	$9.70	31
GLMR	1,102.142580	$25.47	$23.15	$2.32	$1.62	$0.69	10
BTC_wh	0.000002	$0.16	$0.15	$0.01	$0.01	$0.00	1

Moonriver

Asset	Current Borrow Cap	Average Borrow Cap Usage (Past Week)	Average Utilization
xcKSM	0.10	5.71M%	45.69%
FRAX	0.10	48.85M%	17.33%
MOVR	0.10	1.59M%	1.22%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
xcKSM	-13% from 6.39K xcKSM to 5.59K xcKSM	-7% from 13.22K xcKSM to 12.35K xcKSM	-7% from 48.36% to 45.21%
FRAX	-2% from 49.82K FRAX to 48.87K FRAX	-1% from 283.72K FRAX to 281.12K FRAX	-1% from 17.56% to 17.39%
MOVR	-42% from 2.38K MOVR to 1.39K MOVR	-1% from 132.35K MOVR to 130.48K MOVR	-41% from 1.80% to 1.07%

Liquidations

Total liquidations: 136
Total Collateral Seized (USD): $10,682.20
Total Debt Repaid (USD): $9,711.09
Total Liquidation Bonus (USD): $971.11
Total Liquidator Bonus (USD): $679.78
Total Protocol Bonus (USD): $291.33

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
xcKSM	881.587235	$6,270.57	$5,700.51	$570.05	$399.04	$171.02	32
MOVR	1,551.816810	$3,867.23	$3,515.67	$351.57	$246.10	$105.47	94
FRAX	548.694970	$544.41	$494.92	$49.49	$34.64	$14.85	10

AnthiasLabs · January 1, 2026, 4:49pm

Weekly Update (12/26/25 - 1/1/26)

Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, Moonbeam, and Moonriver. Data from 12/26/25 to 1/1/26. 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
USDS	690.00K	750.00K	1.15%	1.23%	86.40%
USDC	184.00M	200.00M	14.07%	16.39%	79.01%
WETH	64.00K	96.00K	8.51%	7.56%	75.05%
EURC	21.00M	21.90M	5.84%	8.16%	68.86%
DAI	300.00K	400.00K	4.20%	5.66%	55.69%
cbXRP	1.60M	5.00M	100.09%	57.95%	55.27%
VIRTUAL	10.00K	4.50M	19.70K%	96.79%	45.23%
AERO	25.00M	70.00M	24.56%	29.04%	30.21%
cbBTC	640.00	1.50K	7.52%	20.89%	15.36%
weETH	200.00	5.40K	6.48%	1.65%	14.54%
LBTC	10.00	95.00	39.39%	31.27%	13.26%
tBTC	5.00	50.00	12.84%	9.87%	13.21%
USDbC	1.00	1.00	104.00K%	843.84K%	12.32%
MAMO	3.00M	20.00M	9.21%	15.34%	9.01%
cbETH	6.40K	16.00K	1.69%	7.91%	8.56%
WELL	10.00M	250.00M	118.84%	79.06%	6.01%
wstETH	4.80K	14.40K	3.10%	27.10%	3.82%
MORPHO	100.00K	6.00M	220.14%	98.65%	3.72%
rETH	200.00	2.60K	10.43%	31.71%	2.53%
wrsETH	0.00	1.00	0.00%	8.13K%	0.02%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
USDS	-0% from 7.96K USDS to 7.94K USDS	+2% from 9.23K USDS to 9.40K USDS	-2% from 86.17% to 84.47%
USDC	-0% from 25.82M USDC to 25.77M USDC	+1% from 32.71M USDC to 33.08M USDC	-1% from 78.94% to 77.91%
WETH	-9% from 5.73K WETH to 5.21K WETH	-10% from 7.64K WETH to 6.91K WETH	+0% from 75.07% to 75.43%
EURC	-5% from 1.29M EURC to 1.22M EURC	+9% from 1.77M EURC to 1.93M EURC	-14% from 72.94% to 63.08%
DAI	+6% from 12.13K DAI to 12.81K DAI	+0% from 22.58K DAI to 22.64K DAI	+5% from 53.69% to 56.59%
cbXRP	+0% from 1.60M cbXRP to 1.60M cbXRP	+1% from 2.87M cbXRP to 2.91M cbXRP	-1% from 55.70% to 55.13%
VIRTUAL	+0% from 1.97M VIRTUAL to 1.97M VIRTUAL	+0% from 4.34M VIRTUAL to 4.35M VIRTUAL	-0% from 45.37% to 45.37%
AERO	+2% from 6.09M AERO to 6.19M AERO	+0% from 20.29M AERO to 20.30M AERO	+1% from 30.03% to 30.47%
cbBTC	-5% from 49.92 cbBTC to 47.56 cbBTC	-0% from 314.89 cbBTC to 313.56 cbBTC	-4% from 15.85% to 15.17%
weETH	+0% from 12.95 weETH to 12.99 weETH	+0% from 89.18 weETH to 89.22 weETH	+0% from 14.52% to 14.56%
LBTC	+24% from 3.24 LBTC to 4.01 LBTC	+1% from 29.28 LBTC to 29.52 LBTC	+23% from 11.07% to 13.58%
tBTC	+1% from 0.64 tBTC to 0.64 tBTC	-0% from 4.52 tBTC to 4.52 tBTC	+1% from 14.09% to 14.24%
USDbC	+0% from 1.04K USDbC to 1.04K USDbC	-0% from 8.44K USDbC to 8.44K USDbC	+0% from 12.32% to 12.33%
MAMO	+7% from 285.37K MAMO to 305.57K MAMO	-1% from 3.13M MAMO to 3.10M MAMO	+8% from 9.12% to 9.87%
cbETH	-3% from 109.66 cbETH to 106.77 cbETH	+2% from 1.26K cbETH to 1.28K cbETH	-4% from 8.72% to 8.34%
WELL	-0% from 11.89M WELL to 11.87M WELL	+1% from 198.45M WELL to 199.65M WELL	-1% from 5.99% to 5.94%
wstETH	-0% from 149.11 wstETH to 148.88 wstETH	-1% from 3.88K wstETH to 3.86K wstETH	+0% from 3.84% to 3.86%
MORPHO	-0% from 220.15K MORPHO to 220.14K MORPHO	-0% from 5.92M MORPHO to 5.90M MORPHO	+0% from 3.72% to 3.73%
rETH	+0% from 20.82 rETH to 20.90 rETH	+0% from 824.18 rETH to 824.51 rETH	+0% from 2.53% to 2.53%
wrsETH	0% from 0.01 wrsETH to 0.01 wrsETH	-5% from 83.38 wrsETH to 78.88 wrsETH	+6% from 0.02% to 0.02%

Notable Trends

WETH supply -10% (7.64K → 6.91K WETH)
WETH borrows -9% (5.73K → 5.21K WETH)
EURC supply +9% (1.77M → 1.93M EURC)

Liquidations

Total liquidations: 164
Total Collateral Seized (USD): $89,831.29
Total Debt Repaid (USD): $81,664.81
Total Liquidation Bonus (USD): $8,166.48
Total Liquidator Bonus (USD): $5,716.54
Total Protocol Bonus (USD): $2,449.94

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
AERO	128,743.125259	$55,878.18	$50,798.34	$5,079.83	$3,555.88	$1,523.95	116
cbBTC	0.291123	$25,524.98	$23,204.52	$2,320.45	$1,624.32	$696.14	4
WETH	2.138654	$6,329.89	$5,754.45	$575.44	$402.81	$172.63	25
WELL	283,280.896200	$2,010.31	$1,827.55	$182.76	$127.93	$54.83	11
USDC	49.826550	$49.81	$45.29	$4.53	$3.17	$1.36	4
VIRTUAL	39.552600	$25.80	$23.45	$2.35	$1.64	$0.70	1
wstETH	0.002882	$10.34	$9.40	$0.94	$0.66	$0.28	2
rETH	0.000577	$1.99	$1.81	$0.18	$0.13	$0.05	1

OP Mainnet

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
WETH	30.00K	32.00K	7.07%	8.48%	77.93%
DAI	4.50M	4.80M	0.89%	1.11%	76.33%
USDT	18.40M	22.60M	0.66%	0.72%	75.19%
USDT0	8.00M	10.00M	0.91%	1.04%	70.28%
USDC	34.00M	36.40M	1.79%	2.71%	61.75%
WBTC	0.00	0.00	0.00%	0.00%	61.62%
cbETH	0.00	10.00	0.00%	2.73%	36.79%
OP	650.00K	5.60M	55.41%	17.74%	36.26%
VELO	20.00M	80.00M	45.18%	46.83%	24.15%
rETH	340.00	750.00	0.72%	2.92%	11.27%
wstETH	1.50K	5.00K	0.44%	3.24%	4.09%
weETH	4.00	10.00	27.02%	459.47%	2.35%
wrsETH	0.00	0.00	0.00%	0.00%	1.83%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
WETH	-49% from 2.27K WETH to 1.16K WETH	-42% from 2.86K WETH to 1.67K WETH	-12% from 79.38% to 69.79%
DAI	+14% from 38.52K DAI to 44.01K DAI	-17% from 59.74K DAI to 49.36K DAI	+38% from 64.48% to 89.16%
USDT	+56% from 101.46K USDT to 158.77K USDT	-1% from 192.97K USDT to 190.23K USDT	+59% from 52.58% to 83.46%
USDT0	+0% from 68.75K USDT0 to 68.77K USDT0	-6% from 110.51K USDT0 to 103.49K USDT0	+7% from 62.21% to 66.45%
USDC	-29% from 607.71K USDC to 429.66K USDC	-19% from 1.00M USDC to 811.83K USDC	-13% from 60.61% to 52.92%
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%
cbETH	0% from 0.10 cbETH to 0.10 cbETH	0% from 0.27 cbETH to 0.27 cbETH	0% from 36.79% to 36.79%
OP	-11% from 362.07K OP to 321.38K OP	-0% from 994.36K OP to 993.09K OP	-11% from 36.41% to 32.36%
VELO	+1% from 9.23M VELO to 9.33M VELO	-7% from 37.89M VELO to 35.13M VELO	+9% from 24.37% to 26.55%
rETH	+0% from 2.46 rETH to 2.47 rETH	-0% from 21.86 rETH to 21.86 rETH	+0% from 11.27% to 11.28%
wstETH	+27% from 5.59 wstETH to 7.09 wstETH	-4% from 166.80 wstETH to 160.50 wstETH	+32% from 3.35% to 4.41%
weETH	-0% from 1.08 weETH to 1.08 weETH	-0% from 46.12 weETH to 45.93 weETH	+0% from 2.34% to 2.35%
wrsETH	0% from 0.28 wrsETH to 0.28 wrsETH	0% from 15.14 wrsETH to 15.14 wrsETH	0% from 1.83% to 1.83%

Notable Trends

WETH supply -42% (2.86K → 1.67K WETH)
WETH borrows -49% (2.27K → 1.16K WETH)
USDC supply -19% (1.00M → 811.83K USDC)
USDC borrows -29% (607.71K → 429.66K USDC)
USDT borrows +56% (101.46K → 158.77K USDT)

Liquidations

Total liquidations: 12
Total Collateral Seized (USD): $1,833.68
Total Debt Repaid (USD): $1,666.98
Total Liquidation Bonus (USD): $166.70
Total Liquidator Bonus (USD): $116.69
Total Protocol Bonus (USD): $50.01

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
VELO	101,279.370500	$1,833.68	$1,666.98	$166.70	$116.69	$50.01	12

Moonbeam

Asset	Current Borrow Cap	Average Borrow Cap Usage (Past Week)	Average Utilization
GLMR	0.10	8494.27M%	70.84%
xcDOT	0.10	19.62M%	48.23%
FRAX	0.10	194.27K%	46.64%
xcUSDC	0.10	17.37M%	31.46%
xcUSDT	0.10	19.02M%	23.52%
USDC.wh	0.10	14.61M%	14.87%
BTC.wh	0.10	99.70%	8.39%
ETH.wh	0.10	1.09K%	3.96%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
GLMR	+2% from 8.43M GLMR to 8.56M GLMR	-0% from 12.05M GLMR to 12.04M GLMR	+2% from 69.93% to 71.16%
xcDOT	-0% from 19.62K xcDOT to 19.62K xcDOT	-0% from 1.11M xcDOT to 1.11M xcDOT	+0% from 48.21% to 48.23%
FRAX	0% from 194.27 FRAX to 194.27 FRAX	0% from 38.71K FRAX to 38.71K FRAX	0% from 46.64% to 46.64%
xcUSDC	-1% from 17.51K xcUSDC to 17.30K xcUSDC	+0% from 55.20K xcUSDC to 55.22K xcUSDC	-1% from 31.71% to 31.33%
xcUSDT	+0% from 19.02K xcUSDT to 19.03K xcUSDT	+0% from 80.89K xcUSDT to 80.90K xcUSDT	+0% from 23.51% to 23.52%
USDC.wh	-2% from 14.92K USDC.wh to 14.60K USDC.wh	-0% from 98.54K USDC.wh to 98.17K USDC.wh	-2% from 15.14% to 14.87%
BTC.wh	-0% from 0.10 BTC.wh to 0.10 BTC.wh	+0% from 1.19 BTC.wh to 1.19 BTC.wh	-0% from 8.40% to 8.39%
ETH.wh	+0% from 1.09 ETH.wh to 1.09 ETH.wh	+0% from 27.56 ETH.wh to 27.56 ETH.wh	+0% from 3.96% to 3.96%

Liquidations

Total liquidations: 22
Total Collateral Seized (USD): $308.89
Total Debt Repaid (USD): $280.81
Total Liquidation Bonus (USD): $28.08
Total Liquidator Bonus (USD): $19.66
Total Protocol Bonus (USD): $8.42

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
xcDOT	160.370381	$266.57	$242.34	$24.23	$16.96	$7.27	12
GLMR	1,815.033985	$42.32	$38.47	$3.85	$2.69	$1.15	10

Moonriver

Asset	Current Borrow Cap	Average Borrow Cap Usage (Past Week)	Average Utilization
xcKSM	0.10	5.59M%	45.22%
FRAX	0.10	48.98M%	17.41%
MOVR	0.10	1.39M%	1.07%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
xcKSM	+0% from 5.59K xcKSM to 5.59K xcKSM	-0% from 12.35K xcKSM to 12.33K xcKSM	+0% from 45.21% to 45.31%
FRAX	+1% from 48.87K FRAX to 49.23K FRAX	+0% from 281.12K FRAX to 281.85K FRAX	+0% from 17.39% to 17.47%
MOVR	+0% from 1.39K MOVR to 1.39K MOVR	-1% from 130.48K MOVR to 129.44K MOVR	+1% from 1.07% to 1.07%

Liquidations

No liquidation events this week.

AnthiasLabs · January 8, 2026, 2:43pm

Weekly Update (1/2/26 - 1/8/26)

Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, Moonbeam, and Moonriver. Data from 1/2/26 to 1/8/26. 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
USDS	690.00K	750.00K	1.16%	1.19%	89.70%
WETH	64.00K	96.00K	9.53%	7.86%	80.76%
USDC	184.00M	200.00M	13.94%	16.44%	78.02%
EURC	21.00M	21.90M	5.72%	7.90%	69.71%
DAI	300.00K	400.00K	4.29%	5.68%	56.61%
cbXRP	1.60M	5.00M	99.57%	57.34%	55.93%
VIRTUAL	10.00K	4.50M	19.75K%	90.11%	48.77%
AERO	25.00M	70.00M	20.40%	29.06%	25.06%
tBTC	5.00	50.00	12.86%	9.04%	14.23%
cbBTC	640.00	1.50K	6.72%	20.43%	14.03%
weETH	200.00	5.40K	6.05%	1.65%	13.54%
LBTC	10.00	95.00	39.83%	31.79%	13.20%
MAMO	3.00M	20.00M	16.55%	18.35%	12.99%
USDbC	1.00	1.00	104.01K%	843.51K%	12.33%
cbETH	1.00K	16.00K	12.24%	8.03%	9.51%
WELL	22.00M	250.00M	60.58%	81.93%	6.50%
wstETH	1.20K	14.40K	12.33%	26.90%	3.82%
MORPHO	100.00K	6.00M	220.10%	98.91%	3.71%
rETH	200.00	2.60K	10.44%	31.43%	2.56%
wrsETH	0.10	1.00	0.00%	6.61K%	0.02%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
USDS	+1% from 7.94K USDS to 8.05K USDS	-5% from 9.40K USDS to 8.93K USDS	+7% from 84.47% to 90.22%
WETH	+15% from 5.21K WETH to 6.02K WETH	+9% from 6.89K WETH to 7.49K WETH	+6% from 75.63% to 80.41%
USDC	+0% from 25.77M USDC to 25.80M USDC	-1% from 33.10M USDC to 32.67M USDC	+1% from 77.86% to 78.99%
EURC	-2% from 1.22M EURC to 1.19M EURC	-13% from 1.90M EURC to 1.65M EURC	+12% from 64.08% to 71.92%
DAI	+0% from 12.81K DAI to 12.84K DAI	+1% from 22.64K DAI to 22.79K DAI	-0% from 56.59% to 56.31%
cbXRP	-2% from 1.60M cbXRP to 1.57M cbXRP	+8% from 2.94M cbXRP to 3.17M cbXRP	-9% from 54.56% to 49.52%
VIRTUAL	+0% from 1.97M VIRTUAL to 1.98M VIRTUAL	-11% from 4.33M VIRTUAL to 3.86M VIRTUAL	+13% from 45.54% to 51.30%
AERO	-22% from 6.11M AERO to 4.74M AERO	-1% from 20.31M AERO to 20.07M AERO	-22% from 30.08% to 23.61%
tBTC	-0% from 0.64 tBTC to 0.64 tBTC	+0% from 4.52 tBTC to 4.52 tBTC	-0% from 14.24% to 14.21%
cbBTC	-8% from 47.87 cbBTC to 43.93 cbBTC	-2% from 313.46 cbBTC to 306.65 cbBTC	-6% from 15.27% to 14.32%
weETH	-8% from 12.99 weETH to 11.95 weETH	+0% from 89.22 weETH to 89.30 weETH	-8% from 14.56% to 13.38%
LBTC	-1% from 4.01 LBTC to 3.97 LBTC	+5% from 29.52 LBTC to 30.90 LBTC	-5% from 13.58% to 12.84%
MAMO	+13% from 305.58K MAMO to 345.12K MAMO	+44% from 3.15M MAMO to 4.52M MAMO	-21% from 9.71% to 7.63%
USDbC	0% from 1.04K USDbC to 1.04K USDbC	0% from 8.44K USDbC to 8.44K USDbC	0% from 12.33% to 12.33%
cbETH	+125% from 106.77 cbETH to 239.73 cbETH	+2% from 1.28K cbETH to 1.31K cbETH	+120% from 8.34% to 18.37%
WELL	+85% from 11.87M WELL to 22.00M WELL	+3% from 199.58M WELL to 206.40M WELL	+79% from 5.95% to 10.66%
wstETH	-1% from 148.88 wstETH to 147.80 wstETH	+1% from 3.86K wstETH to 3.89K wstETH	-2% from 3.86% to 3.80%
MORPHO	-0% from 220.14K MORPHO to 220.10K MORPHO	+1% from 5.90M MORPHO to 5.94M MORPHO	-1% from 3.73% to 3.71%
rETH	-0% from 20.90 rETH to 20.89 rETH	-2% from 824.51 rETH to 810.32 rETH	+2% from 2.53% to 2.58%
wrsETH	0% from 0.01 wrsETH to 0.01 wrsETH	-30% from 78.88 wrsETH to 55.48 wrsETH	+42% from 0.02% to 0.03%

Notable Trends

WETH borrows +15% (5.21K → 6.02K WETH)
AERO borrows -22% (6.11M → 4.74M AERO)
cbETH borrows +125% (106.77 → 239.73 cbETH)
MAMO supply +44% (3.15M → 4.52M MAMO)

Liquidations

Total liquidations: 50
Total Collateral Seized (USD): $77,356.78
Total Debt Repaid (USD): $70,324.35
Total Liquidation Bonus (USD): $7,032.43
Total Liquidator Bonus (USD): $4,922.70
Total Protocol Bonus (USD): $2,109.73

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
cbXRP	31,289.657800	$71,002.30	$64,547.54	$6,454.75	$4,518.33	$1,936.43	4
cbBTC	0.057659	$5,277.61	$4,797.83	$479.78	$335.85	$143.93	6
WETH	0.187413	$600.71	$546.10	$54.61	$38.23	$16.38	24
AERO	588.969380	$342.27	$311.15	$31.12	$21.78	$9.33	7
VIRTUAL	114.235000	$117.83	$107.12	$10.71	$7.50	$3.21	1
USDC	15.531172	$15.53	$14.12	$1.41	$0.99	$0.42	7
EURC	0.461197	$0.54	$0.49	$0.05	$0.03	$0.01	1

OP Mainnet

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
DAI	4.50M	4.80M	0.71%	0.81%	81.30%
USDT	18.40M	22.60M	0.84%	0.86%	79.90%
WETH	30.00K	32.00K	3.92%	5.22%	70.41%
WBTC	0.00	0.00	0.00%	0.00%	61.62%
USDT0	8.00M	10.00M	0.78%	1.03%	60.26%
USDC	34.00M	36.40M	1.31%	2.20%	55.69%
cbETH	0.00	0.00	0.00%	0.00%	36.79%
OP	650.00K	5.60M	34.74%	17.52%	22.97%
VELO	20.00M	80.00M	32.90%	44.87%	18.49%
rETH	150.00	750.00	1.64%	2.61%	12.71%
wstETH	300.00	5.00K	2.36%	3.02%	4.71%
weETH	4.00	10.00	27.02%	456.55%	2.37%
wrsETH	0.10	0.10	0.00%	0.00%	1.83%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
DAI	-35% from 44.01K DAI to 28.64K DAI	-27% from 49.36K DAI to 36.05K DAI	-11% from 89.16% to 79.44%
USDT	-5% from 158.77K USDT to 150.63K USDT	-4% from 190.23K USDT to 181.94K USDT	-1% from 83.46% to 82.79%
WETH	+1% from 1.16K WETH to 1.17K WETH	-1% from 1.67K WETH to 1.65K WETH	+2% from 69.66% to 70.95%
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%
USDT0	-14% from 68.77K USDT0 to 58.89K USDT0	+0% from 103.49K USDT0 to 103.59K USDT0	-14% from 66.45% to 56.84%
USDC	+42% from 437.95K USDC to 622.95K USDC	+15% from 812.58K USDC to 935.05K USDC	+24% from 53.90% to 66.62%
cbETH	0% from 0.10 cbETH to 0.10 cbETH	0% from 0.27 cbETH to 0.27 cbETH	0% from 36.79% to 36.79%
OP	-39% from 308.08K OP to 186.90K OP	-3% from 993.09K OP to 963.71K OP	-37% from 31.02% to 19.39%
VELO	-60% from 9.19M VELO to 3.72M VELO	+5% from 35.04M VELO to 36.71M VELO	-61% from 26.23% to 10.12%
rETH	+0% from 2.47 rETH to 2.47 rETH	-16% from 21.86 rETH to 18.25 rETH	+20% from 11.28% to 13.51%
wstETH	+1% from 7.09 wstETH to 7.17 wstETH	-2% from 160.50 wstETH to 157.72 wstETH	+3% from 4.41% to 4.54%
weETH	+0% from 1.08 weETH to 1.08 weETH	-1% from 45.93 weETH to 45.49 weETH	+1% from 2.35% to 2.38%
wrsETH	0% from 0.28 wrsETH to 0.28 wrsETH	0% from 15.14 wrsETH to 15.14 wrsETH	0% from 1.83% to 1.83%

Notable Trends

USDC borrows +42% (437.95K → 622.95K USDC)
USDC supply +15% (812.58K → 935.05K USDC)
VELO borrows -60% (9.19M → 3.72M VELO)
OP borrows -39% (308.08K → 186.90K OP)

Liquidations

Total liquidations: 2
Total Collateral Seized (USD): $97.21
Total Debt Repaid (USD): $88.37
Total Liquidation Bonus (USD): $8.84
Total Liquidator Bonus (USD): $6.19
Total Protocol Bonus (USD): $2.65

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
DAI	97.244100	$97.21	$88.37	$8.84	$6.19	$2.65	2

Moonbeam

Asset	Current Borrow Cap	Average Borrow Cap Usage (Past Week)	Average Utilization
GLMR	0.10	8651.91M%	68.09%
xcDOT	0.10	19.62M%	48.26%
FRAX	0.10	194.27K%	46.64%
xcUSDC	0.10	17.31M%	31.33%
xcUSDT	0.10	19.02M%	23.52%
USDC.wh	0.10	14.45M%	14.72%
BTC.wh	0.10	99.70%	8.39%
ETH.wh	0.10	1.09K%	3.97%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
GLMR	+2% from 8.59M GLMR to 8.72M GLMR	+6% from 12.14M GLMR to 12.88M GLMR	-4% from 70.71% to 67.72%
xcDOT	+0% from 19.62K xcDOT to 19.62K xcDOT	-0% from 1.10M xcDOT to 1.10M xcDOT	+0% from 48.25% to 48.26%
FRAX	0% from 194.27 FRAX to 194.27 FRAX	0% from 38.71K FRAX to 38.71K FRAX	0% from 46.64% to 46.64%
xcUSDC	+0% from 17.30K xcUSDC to 17.32K xcUSDC	+0% from 55.22K xcUSDC to 55.27K xcUSDC	+0% from 31.33% to 31.34%
xcUSDT	-0% from 19.03K xcUSDT to 19.02K xcUSDT	-0% from 80.89K xcUSDT to 80.78K xcUSDT	+0% from 23.53% to 23.55%
USDC.wh	-1% from 14.60K USDC.wh to 14.41K USDC.wh	+0% from 98.17K USDC.wh to 98.18K USDC.wh	-1% from 14.87% to 14.67%
BTC.wh	0% from 0.10 BTC.wh to 0.10 BTC.wh	0% from 1.19 BTC.wh to 1.19 BTC.wh	0% from 8.39% to 8.39%
ETH.wh	+0% from 1.09 ETH.wh to 1.09 ETH.wh	+0% from 27.56 ETH.wh to 27.56 ETH.wh	+0% from 3.96% to 3.97%

Liquidations

Total liquidations: 2
Total Collateral Seized (USD): $0.78
Total Debt Repaid (USD): $0.71
Total Liquidation Bonus (USD): $0.07
Total Liquidator Bonus (USD): $0.05
Total Protocol Bonus (USD): $0.02

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
GLMR	31.521510	$0.78	$0.71	$0.07	$0.05	$0.02	2

Moonriver

Asset	Current Borrow Cap	Average Borrow Cap Usage (Past Week)	Average Utilization
xcKSM	0.10	5.59M%	45.31%
FRAX	0.10	49.23M%	17.47%
MOVR	0.10	1.39M%	1.07%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
xcKSM	+0% from 5.59K xcKSM to 5.60K xcKSM	-0% from 12.33K xcKSM to 12.33K xcKSM	+0% from 45.31% to 45.43%
FRAX	0% from 49.23K FRAX to 49.23K FRAX	0% from 281.85K FRAX to 281.85K FRAX	0% from 17.47% to 17.47%
MOVR	-1% from 1.39K MOVR to 1.38K MOVR	-0% from 129.44K MOVR to 129.32K MOVR	-0% from 1.07% to 1.07%

Liquidations

No liquidation events this week.

AnthiasLabs · January 15, 2026, 4:20pm

Weekly Update (1/9/26 - 1/15/26)

Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, Moonbeam, and Moonriver. Data from 1/9/26 to 1/15/26. 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
USDS	690.00K	750.00K	1.17%	1.30%	82.95%
WETH	64.00K	96.00K	8.90%	7.45%	79.67%
USDC	184.00M	200.00M	14.01%	16.28%	79.26%
EURC	21.00M	21.90M	5.72%	7.86%	69.86%
DAI	300.00K	400.00K	4.28%	5.70%	56.34%
VIRTUAL	10.00K	4.50M	19.80K%	86.18%	51.06%
cbXRP	1.60M	5.00M	99.57%	63.97%	49.81%
AERO	25.00M	70.00M	20.11%	28.70%	25.03%
cbETH	1.00K	16.00K	23.44%	8.22%	17.84%
tBTC	5.00	50.00	13.26%	9.05%	14.66%
cbBTC	640.00	1.50K	6.97%	20.41%	14.57%
weETH	200.00	5.40K	5.98%	1.65%	13.39%
LBTC	10.00	95.00	40.32%	33.73%	12.59%
WELL	22.00M	250.00M	99.86%	82.58%	10.64%
wstETH	1.20K	14.40K	12.32%	26.88%	3.82%
MORPHO	100.00K	6.00M	220.01%	99.21%	3.70%
rETH	200.00	2.60K	10.45%	31.15%	2.58%
wrsETH	0.10	1.00	0.00%	5.55K%	0.03%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
USDS	+0% from 8.05K USDS to 8.08K USDS	+11% from 8.93K USDS to 9.88K USDS	-9% from 90.22% to 81.79%
WETH	+0% from 6.02K WETH to 6.04K WETH	-2% from 7.48K WETH to 7.33K WETH	+2% from 80.55% to 82.31%
USDC	-0% from 25.80M USDC to 25.75M USDC	+11% from 30.79M USDC to 34.13M USDC	-10% from 83.80% to 75.44%
EURC	+0% from 1.19M EURC to 1.19M EURC	+4% from 1.70M EURC to 1.77M EURC	-4% from 69.69% to 67.13%
DAI	-7% from 12.84K DAI to 12.00K DAI	+0% from 22.79K DAI to 22.84K DAI	-7% from 56.31% to 52.54%
VIRTUAL	+0% from 1.98M VIRTUAL to 1.98M VIRTUAL	-0% from 3.90M VIRTUAL to 3.89M VIRTUAL	+0% from 50.76% to 50.98%
cbXRP	+2% from 1.57M cbXRP to 1.60M cbXRP	+2% from 3.17M cbXRP to 3.24M cbXRP	-1% from 49.71% to 49.37%
AERO	+10% from 4.74M AERO to 5.21M AERO	+1% from 20.07M AERO to 20.20M AERO	+9% from 23.62% to 25.79%
cbETH	-42% from 239.73 cbETH to 138.12 cbETH	+2% from 1.31K cbETH to 1.33K cbETH	-44% from 18.37% to 10.36%
tBTC	-3% from 0.64 tBTC to 0.62 tBTC	-0% from 4.52 tBTC to 4.52 tBTC	-3% from 14.21% to 13.81%
cbBTC	-2% from 43.97 cbBTC to 43.28 cbBTC	-1% from 306.20 cbBTC to 302.63 cbBTC	-0% from 14.36% to 14.30%
weETH	-0% from 11.95 weETH to 11.95 weETH	+0% from 89.30 weETH to 89.59 weETH	-0% from 13.38% to 13.34%
LBTC	+9% from 3.97 LBTC to 4.30 LBTC	+9% from 30.90 LBTC to 33.56 LBTC	-0% from 12.84% to 12.83%
USDbC	+0% from 1.04K USDbC to 1.04K USDbC	-0% from 8.44K USDbC to 8.43K USDbC	+0% from 12.33% to 12.34%
WELL	+0% from 22.00M WELL to 22.00M WELL	+0% from 206.39M WELL to 206.89M WELL	-0% from 10.66% to 10.63%
wstETH	+0% from 147.80 wstETH to 147.86 wstETH	-1% from 3.89K wstETH to 3.84K wstETH	+1% from 3.80% to 3.85%
MORPHO	-0% from 220.10K MORPHO to 219.88K MORPHO	+1% from 5.94M MORPHO to 5.98M MORPHO	-1% from 3.71% to 3.68%
rETH	+0% from 20.89 rETH to 20.89 rETH	-0% from 810.33 rETH to 810.09 rETH	+0% from 2.58% to 2.58%
wrsETH	0% from 0.01 wrsETH to 0.01 wrsETH	0% from 55.48 wrsETH to 55.48 wrsETH	0% from 0.03% to 0.03%

Notable Trends

USDC supply +11% (30.79M → 34.13M USDC)
cbETH borrows -42% (239.73 → 138.12 cbETH)
AERO borrows +10% (4.74M → 5.21M AERO)
LBTC supply +9% (30.90 → 33.56 LBTC)

Liquidations

Total liquidations: 36
Total Collateral Seized (USD): $34,473.62
Total Debt Repaid (USD): $31,339.66
Total Liquidation Bonus (USD): $3,133.97
Total Liquidator Bonus (USD): $2,193.78
Total Protocol Bonus (USD): $940.19

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
cbXRP	10,816.071600	$22,684.30	$20,622.09	$2,062.21	$1,443.55	$618.66	3
cbBTC	0.119830	$10,834.10	$9,849.18	$984.92	$689.44	$295.48	8
USDC	825.117012	$824.93	$749.94	$74.99	$52.50	$22.50	5
VIRTUAL	64.310400	$61.46	$55.88	$5.59	$3.91	$1.68	1
WETH	0.012743	$40.65	$36.95	$3.70	$2.59	$1.11	13
AERO	43.074240	$24.90	$22.64	$2.26	$1.58	$0.68	2
USDS	2.964920	$2.96	$2.69	$0.27	$0.19	$0.08	1
EURC	0.250187	$0.29	$0.26	$0.03	$0.02	$0.01	1
wrsETH	0.000009	$0.03	$0.03	$0.00	$0.00	$0.00	2

Summary View

The following table summarizes the total supply, total borrows, total reserves, and bad debt in each market.

Asset	Price	Total Supply	Total Supply (USD)	Total Borrows	Total Borrows (USD)	Total Reserves	Total Reserves (USD)	Bad Debt	Bad Debt (USD)
AERO	0.585	20179425.81	$11,804,964.10	5209247.699	$3,047,409.90	169509.2495	$99,162.91	462,371.27	$270,487.19
cbBTC	96590.58	302.6298	$29,231,187.91	43.367	$4,188,843.68	0.4693	$45,329.96	0.1471	$14,208.47
cbETH	3751.836	1333.783	$5,004,135.08	206.1412	$773,407.98	10.6274	$39,872.26	47.8941	$179,690.81
cbXRP	2.12	3233257.19	$6,854,505.24	1600837.037	$3,393,774.52	498708.5062	$1,057,262.03	1,234,991.61	$2,618,182.21
DAI	1	22841.0742	$22,841.07	12069.6632	$12,069.66	1834.7779	$1,834.78	0	$0.00
EURC	1.163	1774763.264	$2,064,049.68	1191499.804	$1,385,714.27	23696.0028	$27,558.45	155,726.57	$181,110.00
LBTC	96844.418	33.5918	$3,253,178.32	4.2987	$416,305.10	0.2015	$19,514.15	0	$0.00
MAMO	0.025	2903215.646	$72,580.39	417473.7448	$10,436.84	3993.9784	$99.85	0	$0.00
MORPHO	1.424	5978649.619	$8,513,597.06	219879.2777	$313,108.09	14273.5306	$20,325.51	119,263.43	$169,831.12
rETH	3867.909	809.8754	$3,132,524.35	20.8922	$80,809.13	2.9434	$11,384.80	0.0005	$1.93
tBTC	97137.899	4.5222	$439,277.01	0.6247	$60,682.05	0.0747	$7,256.20	0.0121	$1,175.37
USDC	1	34095708.09	$34,095,708.09	25760793.64	$25,760,793.64	109997.3688	$109,997.37	80,757.59	$80,757.59
USDS	1	9875.7358	$9,875.74	8077.4162	$8,077.42	132.3637	$132.36	0	$0.00
VIRTUAL	1.032	3865834.617	$3,989,541.32	1982613.516	$2,046,057.15	870430.2451	$898,284.01	1,952,078.91	$2,014,545.44
weETH	3635.463	89.589	$325,697.49	11.9488	$43,439.42	6.0135	$21,861.86	0.0033	$12.00
WELL	0.008	206829901	$1,654,639.21	22000090.98	$176,000.73	2495173.006	$19,961.38	0	$0.00
WETH	3348.784	7255.3181	$24,296,493.17	5861.883	$19,630,180.00	49.3885	$165,391.42	0.2255	$755.15
wrsETH	3559.054	55.4795	$197,454.54	0.0148	$52.67	0.8118	$2,889.24	0.0003	$1.07
wstETH	4099.716	3836.1323	$15,727,052.97	147.8569	$606,171.30	6.6449	$27,242.20	81.8317	$335,486.73

OP Mainnet

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
DAI	4.50M	4.80M	1.14%	1.24%	85.72%
USDT	18.40M	22.60M	0.83%	0.84%	78.83%
WETH	30.00K	32.00K	3.90%	5.14%	71.06%
USDC	34.00M	36.40M	1.84%	2.55%	67.47%
USDT0	8.00M	10.00M	0.74%	1.05%	56.13%
cbETH	0.00	0.00	0.00%	0.00%	36.79%
WBTC	0.00	0.00	0.00%	0.00%	32.07%
OP	650.00K	5.60M	29.58%	17.25%	19.91%
rETH	150.00	750.00	1.64%	2.43%	13.51%
VELO	20.00M	80.00M	19.42%	45.88%	10.58%
wstETH	300.00	5.00K	2.39%	3.12%	4.60%
weETH	4.00	10.00	27.02%	449.49%	2.41%
wrsETH	0.00	0.00	0.00%	0.00%	1.83%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
DAI	+172% from 28.64K DAI to 78.02K DAI	+141% from 36.05K DAI to 86.95K DAI	+13% from 79.44% to 89.73%
USDT	-53% from 150.63K USDT to 71.49K USDT	-31% from 181.94K USDT to 125.24K USDT	-31% from 82.79% to 57.08%
WETH	-1% from 1.17K WETH to 1.16K WETH	-1% from 1.65K WETH to 1.63K WETH	+0% from 70.95% to 71.23%
USDC	+3% from 622.96K USDC to 640.86K USDC	+5% from 935.53K USDC to 986.67K USDC	-2% from 66.59% to 64.95%
USDT0	-0% from 58.89K USDT0 to 58.89K USDT0	+0% from 103.59K USDT0 to 104.10K USDT0	-0% from 56.84% to 56.57%
cbETH	0% from 0.10 cbETH to 0.10 cbETH	0% from 0.27 cbETH to 0.27 cbETH	0% from 36.79% to 36.79%
WBTC	-68% from 0.00 WBTC to 0.00 WBTC	+2% from 0.01 WBTC to 0.01 WBTC	-67% from 61.62% to 20.17%
OP	-7% from 196.90K OP to 183.92K OP	+1% from 963.71K OP to 975.63K OP	-8% from 20.43% to 18.85%
rETH	+0% from 2.47 rETH to 2.47 rETH	+0% from 18.25 rETH to 18.25 rETH	+0% from 13.51% to 13.51%
VELO	+56% from 3.71M VELO to 5.81M VELO	+0% from 36.72M VELO to 36.75M VELO	+56% from 10.12% to 15.80%
wstETH	+0% from 7.17 wstETH to 7.19 wstETH	-2% from 157.72 wstETH to 155.16 wstETH	+2% from 4.54% to 4.63%
weETH	+0% from 1.08 weETH to 1.08 weETH	-6% from 45.49 weETH to 42.74 weETH	+6% from 2.38% to 2.53%
wrsETH	0% from 0.28 wrsETH to 0.28 wrsETH	0% from 15.14 wrsETH to 15.14 wrsETH	0% from 1.83% to 1.83%

Notable Trends

USDT borrows -53% (150.63K → 71.49K USDT)
USDT supply -31% (181.94K → 125.24K USDT)
USDC supply +5% (935.53K → 986.67K USDC)
DAI supply +141% (36.05K → 86.95K DAI)
DAI borrows +172% (28.64K → 78.02K DAI)
VELO borrows +56% (3.71M → 5.81M VELO)

Liquidations

Total liquidations: 2
Total Collateral Seized (USD): $1,507.16
Total Debt Repaid (USD): $1,370.15
Total Liquidation Bonus (USD): $137.01
Total Liquidator Bonus (USD): $95.91
Total Protocol Bonus (USD): $41.10

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
WETH	0.464991	$1,479.98	$1,345.44	$134.54	$94.18	$40.36	1
USDC	27.189200	$27.18	$24.71	$2.47	$1.73	$0.74	1

Moonbeam

Asset	Current Borrow Cap	Average Borrow Cap Usage (Past Week)	Average Utilization
GLMR	0.10	8827.63M%	80.57%
xcDOT	0.10	19.63M%	48.29%
FRAX	0.10	194.27K%	46.64%
xcUSDC	0.10	17.33M%	31.60%
xcUSDT	0.10	17.52M%	21.69%
USDC.wh	0.10	13.28M%	13.53%
ETH.wh	0.10	1.09K%	3.97%
BTC.wh	0.10	22.53%	1.90%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
GLMR	+3% from 8.72M GLMR to 8.96M GLMR	-16% from 12.88M GLMR to 10.88M GLMR	+22% from 67.73% to 82.35%
xcDOT	+0% from 19.62K xcDOT to 19.63K xcDOT	-0% from 1.10M xcDOT to 1.10M xcDOT	+0% from 48.26% to 48.31%
FRAX	0% from 194.27 FRAX to 194.27 FRAX	0% from 38.71K FRAX to 38.71K FRAX	0% from 46.64% to 46.64%
xcUSDC	-1% from 17.32K xcUSDC to 17.19K xcUSDC	-4% from 55.27K xcUSDC to 52.81K xcUSDC	+4% from 31.34% to 32.56%
xcUSDT	-11% from 19.02K xcUSDT to 17.01K xcUSDT	-0% from 80.78K xcUSDT to 80.73K xcUSDT	-11% from 23.55% to 21.07%
USDC.wh	-10% from 14.41K USDC.wh to 12.97K USDC.wh	-0% from 98.18K USDC.wh to 98.16K USDC.wh	-10% from 14.67% to 13.21%
ETH.wh	+0% from 1.09 ETH.wh to 1.09 ETH.wh	-0% from 27.56 ETH.wh to 27.56 ETH.wh	+0% from 3.97% to 3.97%
BTC.wh	-99% from 0.10 BTC.wh to 0.00 BTC.wh	+0% from 1.19 BTC.wh to 1.19 BTC.wh	-99% from 8.39% to 0.09%

Liquidations

Total liquidations: 1
Total Collateral Seized (USD): $0.89
Total Debt Repaid (USD): $0.81
Total Liquidation Bonus (USD): $0.08
Total Liquidator Bonus (USD): $0.06
Total Protocol Bonus (USD): $0.02

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
GLMR	37.056000	$0.89	$0.81	$0.08	$0.06	$0.02	1

Moonriver

Asset	Current Borrow Cap	Average Borrow Cap Usage (Past Week)	Average Utilization
xcKSM	0.10	5.60M%	45.43%
FRAX	0.10	49.23M%	17.47%
MOVR	0.10	1.38M%	1.07%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
xcKSM	0% from 5.60K xcKSM to 5.60K xcKSM	0% from 12.33K xcKSM to 12.33K xcKSM	0% from 45.43% to 45.43%
FRAX	0% from 49.23K FRAX to 49.23K FRAX	0% from 281.85K FRAX to 281.85K FRAX	0% from 17.47% to 17.47%
MOVR	0% from 1.38K MOVR to 1.38K MOVR	0% from 129.32K MOVR to 129.32K MOVR	0% from 1.07% to 1.07%

Liquidations

Total liquidations: 79
Total Collateral Seized (USD): $3,257.51
Total Debt Repaid (USD): $2,961.37
Total Liquidation Bonus (USD): $296.14
Total Liquidator Bonus (USD): $207.30
Total Protocol Bonus (USD): $88.84

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
xcKSM	202.336950	$1,573.55	$1,430.50	$143.05	$100.14	$42.92	19
MOVR	505.597423	$1,367.85	$1,243.50	$124.35	$87.04	$37.30	50
FRAX	318.288220	$316.11	$287.37	$28.74	$20.12	$8.62	10

AnthiasLabs · January 22, 2026, 3:02pm

Weekly Update (1/16/26 - 1/22/26)

Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, Moonbeam, and Moonriver. Data from 1/16/26 to 1/22/26. 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
WETH	64.00K	96.00K	8.93%	7.23%	82.41%
USDS	690.00K	750.00K	1.13%	1.31%	79.41%
EURC	21.00M	21.90M	5.68%	7.21%	75.84%
USDC	184.00M	200.00M	13.95%	17.91%	71.72%
VIRTUAL	10.00K	4.50M	19.86K%	89.10%	49.53%
cbXRP	1.60M	5.00M	100.07%	64.82%	49.41%
DAI	300.00K	400.00K	3.76%	5.71%	49.35%
AERO	25.00M	70.00M	22.03%	28.69%	27.43%
cbETH	1.00K	16.00K	20.46%	8.47%	15.07%
MAMO	3.00M	20.00M	14.29%	14.68%	14.62%
cbBTC	640.00	1.50K	7.03%	21.35%	14.05%
tBTC	5.00	50.00	12.48%	9.05%	13.78%
weETH	200.00	5.40K	5.97%	1.65%	13.38%
LBTC	10.00	95.00	42.86%	35.29%	12.79%
WELL	22.00M	250.00M	100.00%	81.63%	10.78%
wstETH	1.20K	14.40K	12.32%	26.64%	3.85%
MORPHO	100.00K	6.00M	219.75%	97.02%	3.78%
rETH	200.00	2.60K	10.45%	31.16%	2.58%
wrsETH	0.10	1.00	0.00%	5.55K%	0.03%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
WETH	-12% from 6.06K WETH to 5.32K WETH	-12% from 7.34K WETH to 6.44K WETH	-0% from 82.59% to 82.56%
USDS	-11% from 8.08K USDS to 7.19K USDS	-6% from 9.88K USDS to 9.27K USDS	-5% from 81.79% to 77.57%
EURC	-1% from 1.19M EURC to 1.17M EURC	-17% from 1.73M EURC to 1.44M EURC	+19% from 68.67% to 81.79%
USDC	-1% from 25.76M USDC to 25.52M USDC	+10% from 34.00M USDC to 37.24M USDC	-10% from 75.76% to 68.51%
VIRTUAL	+0% from 1.98M VIRTUAL to 1.99M VIRTUAL	+3% from 3.89M VIRTUAL to 4.02M VIRTUAL	-3% from 51.00% to 49.44%
cbXRP	-0% from 1.60M cbXRP to 1.60M cbXRP	+0% from 3.24M cbXRP to 3.24M cbXRP	-0% from 49.48% to 49.34%
DAI	+1% from 12.00K DAI to 12.17K DAI	-0% from 22.84K DAI to 22.80K DAI	+2% from 52.54% to 53.37%
AERO	+6% from 5.21M AERO to 5.50M AERO	-1% from 20.20M AERO to 20.00M AERO	+7% from 25.79% to 27.49%
cbETH	+73% from 138.12 cbETH to 238.79 cbETH	+3% from 1.33K cbETH to 1.37K cbETH	+68% from 10.36% to 17.40%
MAMO	+14% from 417.49K MAMO to 477.60K MAMO	-1% from 2.90M MAMO to 2.88M MAMO	+15% from 14.38% to 16.57%
cbBTC	-2% from 43.30 cbBTC to 42.54 cbBTC	+5% from 302.57 cbBTC to 316.30 cbBTC	-6% from 14.31% to 13.45%
tBTC	-0% from 0.62 tBTC to 0.62 tBTC	-0% from 4.52 tBTC to 4.52 tBTC	-0% from 13.81% to 13.76%
weETH	-0% from 11.95 weETH to 11.94 weETH	-3% from 89.59 weETH to 87.06 weETH	+3% from 13.34% to 13.72%
LBTC	-10% from 4.30 LBTC to 3.89 LBTC	-1% from 33.56 LBTC to 33.14 LBTC	-8% from 12.83% to 11.74%
WELL	+0% from 22.00M WELL to 22.00M WELL	-3% from 206.92M WELL to 201.49M WELL	+3% from 10.63% to 10.92%
wstETH	+0% from 147.86 wstETH to 147.88 wstETH	+0% from 3.84K wstETH to 3.84K wstETH	-0% from 3.85% to 3.85%
MORPHO	-0% from 219.88K MORPHO to 219.63K MORPHO	-3% from 5.98M MORPHO to 5.78M MORPHO	+3% from 3.68% to 3.80%
rETH	+0% from 20.89 rETH to 20.90 rETH	+0% from 810.04 rETH to 810.17 rETH	+0% from 2.58% to 2.58%
wrsETH	0% from 0.01 wrsETH to 0.01 wrsETH	0% from 55.48 wrsETH to 55.48 wrsETH	0% from 0.03% to 0.03%

Notable Trends

USDC supply +10% (34.00M → 37.24M USDC)
WETH supply -12% (7.34K → 6.44K WETH)
cbETH borrows +73% (138.12 → 238.79 cbETH)
EURC supply -17% (1.73M → 1.44M EURC)

Liquidations

Total liquidations: 80
Total Collateral Seized (USD): $199,975.27
Total Debt Repaid (USD): $181,795.70
Total Liquidation Bonus (USD): $18,179.57
Total Liquidator Bonus (USD): $12,725.70
Total Protocol Bonus (USD): $5,453.87

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
cbXRP	77,722.992740	$145,061.74	$131,874.31	$13,187.43	$9,231.20	$3,956.23	8
AERO	59,883.343514	$28,796.28	$26,178.44	$2,617.84	$1,832.49	$785.35	21
cbETH	2.624190	$9,103.92	$8,276.29	$827.63	$579.34	$248.29	1
WELL	827,361.720000	$5,871.65	$5,337.86	$533.79	$373.65	$160.14	4
WETH	1.574354	$4,789.49	$4,354.08	$435.41	$304.79	$130.62	24
VIRTUAL	3,980.085430	$3,396.48	$3,087.71	$308.77	$216.14	$92.63	3
cbBTC	0.024145	$2,134.99	$1,940.90	$194.09	$135.86	$58.23	3
EURC	691.740000	$802.12	$729.20	$72.92	$51.04	$21.88	1
USDC	18.592262	$18.59	$16.90	$1.69	$1.18	$0.51	14
wstETH	0.000000	$0.00	$0.00	$0.00	$0.00	$0.00	1

Reserves & Bad Debt

Asset	Total Reserves (tokens)	Total Reserves (USD)	Bad Debt (tokens)	Bad Debt (USD)
AERO	173711.8904	$85,118.83	462929.994	$223,331.83
cbBTC	0.4707	$42,279.94	0.1471	$13,160.30
cbETH	10.7117	$35,781.73	47.9025	$159,331.70
cbXRP	501881.8535	$975,658.32	1236815.976	$2,376,665.23
DAI	1839.1511	$1,839.15	0	$0.00
EURC	23843.7116	$27,825.61	155890.3932	$182,736.64
LBTC	0.2016	$18,157.85	0	$0.00
MAMO	4151.0579	$87.17	0	$0.00
MORPHO	14285.9813	$17,057.46	119282.7378	$141,684.05
rETH	2.9436	$10,141.27	0.0005	$1.69
tBTC	0.0747	$6,707.15	0.0121	$1,077.27
USDC	112839.2579	$112,839.26	80846.0147	$80,902.65
USDS	133.1609	$133.16	0	$0.00
VIRTUAL	872491.8101	$733,765.61	1957497.797	$1,617,872.00
weETH	6.0142	$19,470.79	0.0033	$10.68
WELL	2522523.332	$17,657.66	0	$0.00
WETH	49.5635	$147,733.43	0.2255	$670.09
wrsETH	0.8118	$2,572.81	0.0003	$1.06
wstETH	6.6459	$24,258.94	81.8354	$297,534.19
		Total: $2,279,086.13		Total: $5,094,979.38

OP Mainnet

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
DAI	4.50M	4.80M	1.75%	1.85%	88.72%
WETH	30.00K	32.00K	3.87%	5.11%	71.04%
USDT	18.40M	22.60M	0.45%	0.56%	66.37%
USDT0	8.00M	10.00M	0.74%	0.98%	62.14%
USDC	34.00M	36.40M	1.69%	2.57%	61.16%
cbETH	0.00	0.00	0.00%	0.00%	42.86%
WBTC	0.00	0.00	0.00%	0.00%	20.17%
OP	650.00K	5.60M	29.84%	17.43%	19.87%
VELO	20.00M	80.00M	32.13%	45.82%	17.54%
rETH	150.00	750.00	1.64%	2.43%	13.52%
wstETH	300.00	5.00K	2.40%	3.08%	4.67%
weETH	4.00	10.00	27.02%	427.26%	2.53%
wrsETH	0.00	0.00	0.00%	0.00%	1.83%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
DAI	+12% from 78.02K DAI to 87.59K DAI	+13% from 86.95K DAI to 98.46K DAI	-1% from 89.73% to 88.97%
WETH	-0% from 1.16K WETH to 1.16K WETH	+0% from 1.63K WETH to 1.64K WETH	-1% from 71.20% to 70.80%
USDT	+86% from 71.45K USDT to 133.12K USDT	+39% from 125.25K USDT to 174.33K USDT	+34% from 57.05% to 76.36%
USDT0	+0% from 58.89K USDT0 to 59.08K USDT0	-37% from 104.10K USDT0 to 65.37K USDT0	+60% from 56.57% to 90.38%
USDC	+0% from 640.87K USDC to 641.65K USDC	-9% from 989.68K USDC to 896.87K USDC	+10% from 64.76% to 71.54%
cbETH	+1% from 0.10 cbETH to 0.10 cbETH	-63% from 0.27 cbETH to 0.10 cbETH	+170% from 36.79% to 99.41%
WBTC	0% from 0.00 WBTC to 0.00 WBTC	0% from 0.01 WBTC to 0.01 WBTC	0% from 20.17% to 20.17%
OP	+23% from 183.92K OP to 225.44K OP	+2% from 973.63K OP to 991.22K OP	+20% from 18.89% to 22.74%
VELO	-47% from 5.98M VELO to 3.15M VELO	-1% from 36.74M VELO to 36.49M VELO	-47% from 16.26% to 8.63%
rETH	+0% from 2.47 rETH to 2.47 rETH	-0% from 18.25 rETH to 18.24 rETH	+0% from 13.51% to 13.52%
wstETH	+0% from 7.19 wstETH to 7.19 wstETH	+8% from 155.16 wstETH to 167.49 wstETH	-7% from 4.63% to 4.29%
weETH	+0% from 1.08 weETH to 1.08 weETH	-0% from 42.74 weETH to 42.64 weETH	+0% from 2.53% to 2.54%
wrsETH	0% from 0.28 wrsETH to 0.28 wrsETH	0% from 15.14 wrsETH to 15.14 wrsETH	0% from 1.83% to 1.83%

Notable Trends

VELO borrows -47% (5.98M → 3.15M VELO)
USDT borrows +86% (71.45K → 133.12K USDT)
USDT supply +39% (125.25K → 174.33K USDT)
USDT0 supply -37% (104.10K → 65.37K USDT0)

Liquidations

No liquidation events this week.

Moonbeam

Asset	Current Borrow Cap	Average Borrow Cap Usage (Past Week)	Average Utilization
GLMR	0.10	9095.65M%	82.82%
xcDOT	0.10	19.58M%	48.31%
FRAX	0.10	194.27K%	46.64%
xcUSDC	0.10	17.13M%	32.43%
xcUSDT	0.10	17.01M%	21.08%
USDC.wh	0.10	12.93M%	13.27%
ETH.wh	0.10	967.85%	3.58%
BTC.wh	0.10	1.00%	0.09%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
GLMR	+3% from 8.96M GLMR to 9.23M GLMR	+5% from 10.88M GLMR to 11.44M GLMR	-2% from 82.35% to 80.66%
xcDOT	-0% from 19.63K xcDOT to 19.54K xcDOT	-0% from 1.10M xcDOT to 1.10M xcDOT	+0% from 48.31% to 48.32%
FRAX	0% from 194.27 FRAX to 194.27 FRAX	0% from 38.71K FRAX to 38.71K FRAX	0% from 46.64% to 46.64%
xcUSDC	-1% from 17.19K xcUSDC to 17.10K xcUSDC	+0% from 52.81K xcUSDC to 52.85K xcUSDC	-1% from 32.56% to 32.37%
xcUSDT	+0% from 17.01K xcUSDT to 17.02K xcUSDT	-0% from 80.73K xcUSDT to 80.72K xcUSDT	+0% from 21.07% to 21.08%
USDC.wh	-0% from 12.97K USDC.wh to 12.93K USDC.wh	-3% from 98.16K USDC.wh to 94.89K USDC.wh	+3% from 13.21% to 13.63%
ETH.wh	-21% from 1.09 ETH.wh to 0.86 ETH.wh	-3% from 27.56 ETH.wh to 26.61 ETH.wh	-18% from 3.97% to 3.25%
BTC.wh	0% from 0.00 BTC.wh to 0.00 BTC.wh	-11% from 1.19 BTC.wh to 1.06 BTC.wh	+12% from 0.09% to 0.10%

Liquidations

Total liquidations: 2
Total Collateral Seized (USD): $1.44
Total Debt Repaid (USD): $1.31
Total Liquidation Bonus (USD): $0.13
Total Liquidator Bonus (USD): $0.09
Total Protocol Bonus (USD): $0.04

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
GLMR	60.627600	$1.44	$1.31	$0.13	$0.09	$0.04	2

Moonriver

Moonriver will be fully deprecated by Feb 1st, this week as while collateral factors were reduced from 15% to 7.5%, the following liquidations occurred.

Liquidations

Total liquidations: 58
Total Collateral Seized (USD): $1,788.42
Total Debt Repaid (USD): $1,625.84
Total Liquidation Bonus (USD): $162.58
Total Liquidator Bonus (USD): $113.81
Total Protocol Bonus (USD): $48.78

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
MOVR	327.530432	$853.98	$776.35	$77.63	$54.34	$23.29	28
FRAX	527.857040	$524.51	$476.83	$47.68	$33.38	$14.30	8
xcKSM	53.546110	$409.93	$372.66	$37.27	$26.09	$11.18	22

The next proposal aims to reduce collateral factors in all three markets from 7.5% to 0%, liquidating all remaining positions. Below is a list of remaining addresses with debt on Moonriver.

Estimated debt repaid: $1,661.00

Newly liquidatable positions after adjustment: 63

Address	Collateral (USD)	Debt (USD)	HF change
0xb10503651649ced3ca08b517197339baf84be6f4	XCKSM:$3,762, MOVR:$2,007	MOVR:$302	1.433→0.000
0xea596b95be434da15c2d438011be8d35ca5826db	XCKSM:$2,577, MOVR:$934, FRAX:$581	MOVR:$143, XCKSM:$91	1.312→0.000
0xf57439b647b5d2ba7309b5b58eaadefa69238926	MOVR:$1,792, XCKSM:$1,099	XCKSM:$102, MOVR:$81, FRAX:$25	1.042→0.000
0x980c8a9be764f1ef008a584a7d3d7975b1245c8c	FRAX:$1,298, XCKSM:$1,059, MOVR:$157	MOVR:$176	1.071→0.000
0xc6302894cd030601d5e1f65c8f504c83d5361279	FRAX:$2,428, MOVR:$764	MOVR:$119	2.012→0.000
0x50bfa31336524ef6f729ae4d07beb44e1f97ed53	FRAX:$873, MOVR:$14	FRAX:$65	1.023→0.000
0x491ffc953e1ab2751817ff90a5f32694a4841474	MOVR:$545, XCKSM:$428	XCKSM:$42	1.737→0.000
0x5963c46aeb3f51ced435a770e40958b640480f6c	FRAX:$604	FRAX:$37	1.224→0.000
0x6b252eed6c28c076fa22c0f006d1d7161e0705ca	MOVR:$585	MOVR:$35	1.254→0.000
0x15fd6f22be98b21ac03e685dac2c38e5de2055b6	XCKSM:$643	XCKSM:$34	1.418→0.000
0x9626087c4e8e63a486c1e7961854f5cbe1cea4c1	FRAX:$3,783	MOVR:$31	9.152→0.000
0x2944778ea6a8c8b05780842b44413022b1246895	MOVR:$462	MOVR:$30	1.155→0.000
0x71583c00b62c85601e83b88ffc59233b1243b30d	XCKSM:$178, MOVR:$176	XCKSM:$23	1.154→0.000
0xe1f5a5166df06f575a755ef26238cb4b07c1ce66	MOVR:$426	MOVR:$20	1.597→0.000
0x9f94ff95cbc403cbfc18802edeaef71da8155f36	FRAX:$344, XCKSM:$102, MOVR:$5	XCKSM:$19	1.780→0.000
0xbcba34246db4f560fc19b9a56111b90f8cadb248	FRAX:$134, MOVR:$106	FRAX:$10, MOVR:$8	1.000→0.000
0x749696fbee9c3b972d62bceb19ed38f9fedc261a	XCKSM:$160, MOVR:$65, FRAX:$7	XCKSM:$10, MOVR:$6	1.087→0.000
0x5cc2687251415ea89335d06f3d83f598a412a6fb	FRAX:$471	MOVR:$16	2.208→0.000
0x62e97d3f157162a5fb1f81a388358909922407e7	MOVR:$243	MOVR:$14	1.302→0.000
0x2e931904f3b4a27455d6fd72687ace315d52fbb7	FRAX:$239, MOVR:$13	MOVR:$14	1.350→0.000
0xd56e6809e34a4271aa4d08dc4522266b9f3527fc	MOVR:$182, FRAX:$10	MOVR:$8, FRAX:$5	1.108→0.000
0x57c0674424b354d55ec45c65fad0f0dd3edd92cb	MOVR:$244	XCKSM:$12	1.525→0.000
0x71f9b420a6b03d2fbe2c0d2aea5f4365b0e95774	MOVR:$211	MOVR:$12	1.319→0.000
0x016f4eb10196d247ae5eb2c9d6c2562d7db7e61c	XCKSM:$255	XCKSM:$11	1.739→0.000
0x5989190301ef1b771ee0b0290519b27f6fdda08a	XCKSM:$81, MOVR:$75	FRAX:$10	1.170→0.000
0xd4c621bcae8bc25cc5be96919bbdc888335a7f49	MOVR:$284	FRAX:$9	2.367→0.000
0xa2ebd97892502847061fe611efd5e289dbfa0703	XCKSM:$198	XCKSM:$8	1.856→0.000
0x3ec80aa5aa9563ae4108ad548af38bdf50bca5c4	MOVR:$126	FRAX:$8	1.181→0.000
0x07a92f07b414157f1b51dc6363c4e41483c9ae30	FRAX:$102	FRAX:$7	1.093→0.000
0xaf05e7650c857a070a46d9afe5f2c704edc9fa3d	XCKSM:$161	FRAX:$7	1.725→0.000
0x826121d2a47c9d6e71fd4fed082ceccc8a5381b1	XCKSM:$62, MOVR:$47	MOVR:$7	1.168→0.000
0x0a4e5c29d7c1c80e0d6d3f06d1a28dfd6609536a	MOVR:$107	MOVR:$6	1.338→0.000
0xeb7dff2aefa350c2b96509053f3376bc1e4eb887	FRAX:$80, MOVR:$28	MOVR:$6	1.350→0.000
0x65274e52b12e0cfac2cc42bc4fb971447507c5e2	XCKSM:$74, MOVR:$72	FRAX:$6	1.825→0.000
0x6c7e7fbfa69f4b5a5ade1c27bc74fa4290a3b8a3	XCKSM:$112	XCKSM:$6	1.400→0.000
0x42e48f81c65c7961f35b1bd13242faacb27160ea	MOVR:$70	FRAX:$5	1.050→0.000
0x75ef617ebe6bb4e7b4e85c37c25462c1dbdd5b00	XCKSM:$70, MOVR:$12	XCKSM:$5	1.230→0.000
0xaa69b502540b8a1b0d05e4df02bae637397d09f3	MOVR:$103	XCKSM:$3, MOVR:$2	1.545→0.000
0x9bbf8d4eae6d0423fc9b1ae37c934a3a0c574aa3	MOVR:$114	MOVR:$5	1.710→0.000
0x157a8c092a9544fb84ed06d633956c1aba075e9f	MOVR:$70, XCKSM:$1	FRAX:$3, XCKSM:$2	1.065→0.000
0xbd24b957413d1006ee642280e8777eeb7dbb0879	MOVR:$89	MOVR:$4	1.669→0.000
0x9187ca4c4426eea21a97fa1c415836ff75b06a69	MOVR:$64	MOVR:$4	1.200→0.000
0x82ad076fe3637e851741a4ec48e3f0a427d8672f	MOVR:$64	FRAX:$4	1.200→0.000
0xd98f10ba79091eb4cf58bafeb6681a77ee30b385	XCKSM:$97, MOVR:$18	MOVR:$4	2.156→0.000
0x409ea67dc4f83b8d91a8b32057aed28f5debbd4a	XCKSM:$74	MOVR:$3	1.850→0.000
0xbf2d4f7bcafb6111fcdeaaa6c1fa680d084dc0c1	MOVR:$54	MOVR:$3	1.350→0.000
0x5972da5ff1b91a83fce2cda94ad8601dc0eb14b3	FRAX:$59, MOVR:$6	FRAX:$2, MOVR:$1	1.625→0.000
0x186fed4e49ae0fb6f312ac81d5af0397d31feb8a	MOVR:$53	MOVR:$3	1.325→0.000
0xc56e69c5412b9629b4418eab6b9b94820eb8be13	MOVR:$68	FRAX:$3	1.700→0.000
0x2f4675d80a50857ea02933f2487ef1fedb6660c1	MOVR:$24, XCKSM:$22	MOVR:$2, XCKSM:$1	1.150→0.000
0xc5ea9eb8cdba62e0a7d89b4fe6a2431afe64133b	MOVR:$38	MOVR:$2	1.425→0.000
0x391d396ebe8f48e17483561d6603066f7d7a0514	MOVR:$34	MOVR:$2	1.275→0.000
0x88086850b484d857ed611701a530d6602303eb66	MOVR:$34	MOVR:$2	1.275→0.000
0x6c7b2911369eb702f4b007633e19f18f75babc73	MOVR:$39	FRAX:$2	1.462→0.000
0xea4c5bd8fb85130439e01ee3a3f0348edcac0858	MOVR:$34	MOVR:$2	1.275→0.000
0x0aac6fe840d4da1261f275562ae33d67ba6869ee	XCKSM:$26, MOVR:$2	FRAX:$2	1.050→0.000
0x73d2d055639d287107b133175978e65c3675e90f	XCKSM:$32, MOVR:$13	XCKSM:$1, MOVR:$1	1.688→0.000
0xd1bf5f87c7f04f93e46521988940b5aea30eb7aa	FRAX:$42	FRAX:$2	1.575→0.000
0x23bca3f361c89a4da94784dc26b70dd04b5558e0	FRAX:$67	XCKSM:$1	5.025→0.000
0x7ea65c38c2d4ef477dbce3b95bed5ca85a0a4b73	MOVR:$15	MOVR:$1	1.125→0.000
0x68541f794a58ce79a21f843745cc73a1d281ee87	XCKSM:$25, MOVR:$4	XCKSM:$1	2.175→0.000
0x4b0a6d7339f7072d0fec5a9f8ae34a5a60624e93	FRAX:$28	MOVR:$1	2.100→0.000
0x29967f828407a15520e9cb6f8026df1620d463af	MOVR:$12, FRAX:$3	FRAX:$1	1.125→0.000

AnthiasLabs · January 29, 2026, 5:54pm

Weekly Update (1/23/26 - 1/29/26)

Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, OP mainnet, Moonbeam, and Moonriver. Data from 1/23/26 to 1/29/26. 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
WETH	64.00K	96.00K	8.44%	6.86%	82.03%
USDS	690.00K	750.00K	1.06%	1.31%	74.53%
EURC	21.00M	21.90M	5.60%	7.33%	73.62%
USDC	184.00M	200.00M	13.90%	18.38%	69.57%
DAI	300.00K	400.00K	4.08%	5.70%	53.61%
cbXRP	1.60M	5.00M	99.49%	62.82%	50.70%
VIRTUAL	10.00K	4.50M	19.90K%	88.72%	49.85%
AERO	25.00M	70.00M	22.05%	28.46%	27.66%
cbETH	1.00K	16.00K	29.60%	9.08%	20.28%
MAMO	3.00M	20.00M	17.48%	13.59%	19.69%
cbBTC	640.00	1.50K	6.65%	20.41%	13.90%
weETH	200.00	5.40K	6.06%	1.62%	13.83%
tBTC	5.00	50.00	10.86%	8.87%	12.23%
LBTC	10.00	95.00	38.92%	34.94%	11.73%
WELL	34.00M	250.00M	66.74%	81.61%	11.12%
wstETH	1.20K	14.40K	12.29%	26.83%	3.82%
MORPHO	100.00K	6.00M	219.64%	96.24%	3.80%
rETH	200.00	2.60K	10.45%	31.15%	2.58%
wrsETH	0.00	1.00	0.00%	5.54K%	0.03%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
WETH	-6% from 5.74K WETH to 5.40K WETH	-7% from 6.93K WETH to 6.48K WETH	+1% from 82.74% to 83.36%
USDS	+4% from 7.19K USDS to 7.45K USDS	-5% from 10.27K USDS to 9.76K USDS	+9% from 70.02% to 76.34%
EURC	-1% from 1.17M EURC to 1.16M EURC	+11% from 1.55M EURC to 1.73M EURC	-11% from 75.80% to 67.45%
USDC	+1% from 25.54M USDC to 25.73M USDC	-3% from 37.13M USDC to 36.14M USDC	+3% from 68.79% to 71.20%
DAI	+1% from 12.17K DAI to 12.33K DAI	+0% from 22.80K DAI to 22.81K DAI	+1% from 53.37% to 54.05%
cbXRP	-1% from 1.60M cbXRP to 1.59M cbXRP	-4% from 3.24M cbXRP to 3.10M cbXRP	+4% from 49.45% to 51.23%
VIRTUAL	+0% from 1.99M VIRTUAL to 1.99M VIRTUAL	-0% from 4.04M VIRTUAL to 4.03M VIRTUAL	+1% from 49.20% to 49.50%
AERO	-4% from 5.75M AERO to 5.52M AERO	-1% from 20.03M AERO to 19.85M AERO	-3% from 28.69% to 27.82%
cbETH	+44% from 236.64 cbETH to 339.72 cbETH	+17% from 1.37K cbETH to 1.60K cbETH	+23% from 17.25% to 21.21%
MAMO	+24% from 472.54K MAMO to 585.96K MAMO	-15% from 2.88M MAMO to 2.44M MAMO	+46% from 16.40% to 23.98%
cbBTC	-7% from 45.74 cbBTC to 42.37 cbBTC	-8% from 323.37 cbBTC to 298.42 cbBTC	+0% from 14.14% to 14.20%
weETH	+0% from 11.94 weETH to 11.95 weETH	+2% from 87.11 weETH to 88.61 weETH	-2% from 13.71% to 13.48%
tBTC	-21% from 0.62 tBTC to 0.49 tBTC	-3% from 4.52 tBTC to 4.37 tBTC	-18% from 13.77% to 11.30%
LBTC	-11% from 4.29 LBTC to 3.83 LBTC	-1% from 33.52 LBTC to 33.19 LBTC	-10% from 12.80% to 11.54%
WELL	+9% from 22.00M WELL to 23.88M WELL	+2% from 201.56M WELL to 205.47M WELL	+6% from 10.92% to 11.62%
wstETH	-0% from 147.88 wstETH to 147.17 wstETH	+1% from 3.84K wstETH to 3.88K wstETH	-2% from 3.85% to 3.79%
MORPHO	+0% from 219.63K MORPHO to 219.66K MORPHO	-0% from 5.78M MORPHO to 5.77M MORPHO	+0% from 3.80% to 3.80%
rETH	+0% from 20.90 rETH to 20.91 rETH	+0% from 810.17 rETH to 810.67 rETH	-0% from 2.58% to 2.58%
wrsETH	-1% from 0.01 wrsETH to 0.01 wrsETH	-1% from 55.48 wrsETH to 55.19 wrsETH	-1% from 0.03% to 0.03%

Notable Trends

cbBTC supply -8% (323.37 → 298.42 cbBTC)
WETH supply -7% (6.93K → 6.48K WETH)
cbETH supply +17% (1370 → 1600 cbETH)
cbETH borrows +44% (236.64 → 339.72 cbETH)

Liquidations

Total liquidations: 53
Total Collateral Seized (USD): $42,643.13
Total Debt Repaid (USD): $38,766.48
Total Liquidation Bonus (USD): $3,876.65
Total Liquidator Bonus (USD): $2,713.65
Total Protocol Bonus (USD): $1,162.99

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
AERO	29,761.713998	$13,340.78	$12,127.98	$1,212.80	$848.96	$363.84	10
cbXRP	5,076.866000	$9,716.18	$8,832.89	$883.29	$618.30	$264.99	2
cbETH	2.352427	$7,783.83	$7,076.21	$707.62	$495.33	$212.29	3
cbBTC	0.054664	$4,794.75	$4,358.87	$435.89	$305.12	$130.77	4
WELL	590,794.388000	$3,484.66	$3,167.87	$316.79	$221.75	$95.04	11
WETH	0.568554	$1,659.70	$1,508.82	$150.88	$105.62	$45.26	15
MAMO	84,069.000000	$1,532.05	$1,392.77	$139.28	$97.49	$41.78	1
weETH	0.048704	$154.16	$140.14	$14.01	$9.81	$4.20	1
USDC	103.581300	$103.55	$94.14	$9.41	$6.59	$2.82	3
wstETH	0.016344	$60.75	$55.23	$5.52	$3.87	$1.66	1
MORPHO	5.968620	$7.15	$6.50	$0.65	$0.46	$0.20	1
VIRTUAL	6.756030	$5.57	$5.06	$0.51	$0.35	$0.15	1

Reserves & Bad Debt

Asset	Price	Total Reserves	Total Reserves (USD)	Bad Debt	Bad Debt (USD)
AERO	0.472	176327.4142	$83,226.54	463504.4107	$201,461.27
cbBTC	90387.36	0.4716	$42,626.68	0.1471	$12,465.37
cbETH	3389.667	10.7221	$36,344.35	47.9143	$151,611.36
cbXRP	1.923	503291.5509	$967,829.65	1240031.591	$2,229,081.21
DAI	1	1844.6315	$1,844.63	0	$0.00
EURC	1.195	23949.2662	$28,619.37	156050.0281	$186,578.59
LBTC	90639.108	0.2016	$18,272.84	0	$0.00
MAMO	0.02	6941.474	$138.83	0	$0.00
MORPHO	1.216	14297.6324	$17,385.92	119303.3657	$142,305.06
rETH	3495.686	2.9438	$10,290.60	0.0005	$1.61
tBTC	90113.228	0.0747	$6,731.46	0.0121	$1,019.12
USDC	1	115292.6941	$115,292.69	80934.1629	$81,055.76
USDS	1	133.8528	$133.85	0	$0.00
VIRTUAL	0.847	874242.2892	$740,483.22	1963063.456	$1,505,081.01
weETH	3285.678	6.016	$19,766.64	0.0033	$10.12
WELL	0.006	2540412.67	$15,242.48	0	$0.00
WETH	3023.241	49.6789	$150,191.29	0.2256	$635.86
wrsETH	3216.049	0.8118	$2,610.79	0.0003	$1.01
wstETH	3704.538	6.6473	$24,625.18	81.8391	$283,028.00
			Total: $2,281,657.01		Total: $4,794,335.35

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	0.00%	0.00%	97.78%
DAI	4.50M	4.80M	2.05%	2.16%	88.96%
USDT0	8.00M	10.00M	0.74%	0.67%	87.90%
USDT	18.40M	22.60M	0.71%	0.75%	76.90%
WETH	30.00K	32.00K	3.89%	5.11%	71.31%
USDC	34.00M	36.40M	1.79%	2.42%	69.06%
OP	650.00K	5.60M	33.41%	17.72%	21.88%
rETH	150.00	750.00	1.65%	2.45%	13.47%
VELO	20.00M	80.00M	14.51%	45.50%	7.96%
wstETH	300.00	5.00K	2.38%	3.28%	4.36%
weETH	4.00	10.00	27.02%	426.38%	2.54%
wrsETH	0.00	0.00	0.00%	0.00%	1.83%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
cbETH	+1% from 0.10 cbETH to 0.10 cbETH	-63% from 0.27 cbETH to 0.10 cbETH	+170% from 36.79% to 99.41%
DAI	+22% from 78.19K DAI to 95.53K DAI	+20% from 89.05K DAI to 107.09K DAI	+2% from 87.81% to 89.21%
USDT0	+0% from 58.94K USDT0 to 59.24K USDT0	+10% from 61.52K USDT0 to 67.55K USDT0	-8% from 95.81% to 87.69%
USDT	+31% from 102.47K USDT to 134.07K USDT	+31% from 133.10K USDT to 173.99K USDT	+0% from 76.98% to 77.05%
WETH	+1% from 1.16K WETH to 1.17K WETH	+0% from 1.63K WETH to 1.64K WETH	+1% from 70.90% to 71.53%
USDC	+30% from 470.47K USDC to 612.91K USDC	+2% from 867.69K USDC to 882.88K USDC	+28% from 54.22% to 69.42%
OP	+5% from 199.67K OP to 209.49K OP	+2% from 974.37K OP to 998.25K OP	+2% from 20.49% to 20.99%
rETH	+0% from 2.47 rETH to 2.47 rETH	+4% from 18.24 rETH to 18.91 rETH	-4% from 13.52% to 13.05%
VELO	-77% from 7.36M VELO to 1.70M VELO	-1% from 36.36M VELO to 35.97M VELO	-77% from 20.26% to 4.72%
wstETH	-11% from 7.19 wstETH to 6.42 wstETH	+9% from 152.51 wstETH to 166.44 wstETH	-18% from 4.72% to 3.86%
weETH	0% from 1.08 weETH to 1.08 weETH	-0% from 42.74 weETH to 42.64 weETH	+0% from 2.53% to 2.54%
wrsETH	0% from 0.28 wrsETH to 0.28 wrsETH	+0% from 15.14 wrsETH to 15.14 wrsETH	-0% from 1.83% to 1.83%

Notable Trends

USDC borrows +30% (470.47K → 612.91K USDC)
VELO borrows -77% (7.36M → 1.70M VELO)
USDT supply +31% (133.10K → 173.99K USDT)

Liquidations

Total liquidations: 4
Total Collateral Seized (USD): $2,216.71
Total Debt Repaid (USD): $2,015.19
Total Liquidation Bonus (USD): $201.52
Total Liquidator Bonus (USD): $141.06
Total Protocol Bonus (USD): $60.46

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
OP	7,884.152200	$2,189.24	$1,990.22	$199.02	$139.32	$59.71	3
WETH	0.009601	$27.47	$24.98	$2.50	$1.75	$0.75	1

Moonbeam

Asset	Current Borrow Cap	Average Borrow Cap Usage (Past Week)	Average Utilization
GLMR	0.10	9324.73M%	80.23%
xcDOT	0.10	19.54M%	48.33%
FRAX	0.10	194.00K%	46.64%
xcUSDC	0.10	17.10M%	32.30%
xcUSDT	0.10	17.02M%	21.09%
USDC.wh	0.10	12.89M%	13.58%
ETH.wh	0.10	863.91%	3.26%
BTC.wh	0.10	1.00%	0.10%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
GLMR	+3% from 9.20M GLMR to 9.44M GLMR	+5% from 11.39M GLMR to 11.94M GLMR	-2% from 80.72% to 79.12%
xcDOT	+0% from 19.54K xcDOT to 19.55K xcDOT	-0% from 1.10M xcDOT to 1.10M xcDOT	+0% from 48.32% to 48.35%
FRAX	-0% from 194.27 FRAX to 193.59 FRAX	+0% from 38.71K FRAX to 38.71K FRAX	-0% from 46.64% to 46.63%
xcUSDC	-0% from 17.10K xcUSDC to 17.08K xcUSDC	+0% from 52.85K xcUSDC to 53.09K xcUSDC	-1% from 32.37% to 32.17%
xcUSDT	+0% from 17.02K xcUSDT to 17.04K xcUSDT	+0% from 80.72K xcUSDT to 80.74K xcUSDT	+0% from 21.08% to 21.10%
USDC.wh	-0% from 12.93K USDC.wh to 12.89K USDC.wh	+0% from 94.89K USDC.wh to 94.90K USDC.wh	-0% from 13.63% to 13.58%
ETH.wh	+0% from 0.86 ETH.wh to 0.86 ETH.wh	-1% from 26.61 ETH.wh to 26.46 ETH.wh	+1% from 3.25% to 3.27%
BTC.wh	0% from 0.00 BTC.wh to 0.00 BTC.wh	-0% from 1.06 BTC.wh to 1.06 BTC.wh	-4% from 0.10% to 0.09%

Liquidations

Total liquidations: 19
Total Collateral Seized (USD): $192.85
Total Debt Repaid (USD): $175.32
Total Liquidation Bonus (USD): $17.53
Total Liquidator Bonus (USD): $12.27
Total Protocol Bonus (USD): $5.26

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
GLMR	7,807.432124	$154.39	$140.35	$14.04	$9.82	$4.21	18
xcUSDC	38.467400	$38.46	$34.97	$3.50	$2.45	$1.05	1

Moonriver

Following the full deprecation of Moonriver markets where collateral factors were reduced to zero, all remaining debt positions were liquidated

Liquidations

Total liquidations: 175
Total Collateral Seized (USD): $1,676.39
Total Debt Repaid (USD): $1,523.99
Total Liquidation Bonus (USD): $152.40
Total Liquidator Bonus (USD): $106.68
Total Protocol Bonus (USD): $45.72

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
MOVR	506.580831	$1,171.46	$1,064.97	$106.50	$74.55	$31.95	119
xcKSM	51.011453	$340.38	$309.43	$30.94	$21.66	$9.28	37
FRAX	165.753500	$164.56	$149.60	$14.96	$10.47	$4.49	19

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