[Anthias Labs] Weekly Market Updates

[AnthiasLabs]

Weekly Update (8/27/26 - 9/2/26)

Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, Ethereum and OP Mainnet. Data from 8/28/26 to 9/3/26. 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
cbETH	0.00	4.00K	0.00%	17.20%	100.00%
USDC	0.00	200.00M	0.00%	6.29%	98.52%
USDS	0.00	0.00	0.00%	0.00%	96.83%
EURC	0.00	21.90M	0.00%	1.76%	92.96%
VIRTUAL	0.00	4.50M	0.00%	34.27%	81.25%
WETH	0.00	96.00K	0.00%	4.12%	74.37%
DAI	0.00	0.00	0.00%	0.00%	58.80%
MAMO	0.00	0.00	0.00%	0.00%	56.27%
wstETH	0.00	14.40K	0.00%	5.76%	53.41%
cbBTC	0.00	1.50K	0.00%	8.66%	50.90%
MORPHO	0.00	400.00K	0.00%	283.40%	40.63%
cbXRP	0.00	5.00M	0.00%	44.21%	35.70%
AERO	0.00	20.00M	0.00%	83.34%	18.30%
WELL	0.00	0.00	0.00%	0.00%	13.09%
USDbC	0.00	1.00	0.00%	801.18K%	11.15%
tBTC	0.00	0.00	0.00%	0.00%	9.52%
rETH	0.00	0.00	0.00%	0.00%	1.77%
LBTC	0.00	95.00	0.00%	50.92%	1.51%
weETH	0.00	5.40K	0.00%	1.10%	0.32%
VVV	0.00	170.00K	0.00%	43.19%	0.27%
wrsETH	0.00	0.00	0.00%	0.00%	0.03%

Bad Debt & Reserves

Market	Bad Debt (USD)	Bad Debt (tokens)	Reserves (USD)	Reserves (tokens)
cbBTC	$4,193,455.83	53.86508152	$14,247.01	0.1757
USDC	$2,534,775.23	2535405.738849	$46,863.70	46863.6993
cbETH	$1,847,128.46	675.31761543	$8,808.07	3.0944
WETH	$1,791,662.08	745.58632065	$2,857.43	1.1427
wstETH	$1,178,248.08	394.7973819	$3,566.08	1.1474
cbXRP	$1,022,040.60	745701.622239	$3,026.19	2069.8946
VIRTUAL	$850,192.70	1241683.69033357	$1,092.59	1530.2448
MORPHO	$258,097.24	105405.75133625	$697.36	279.5048
EURC	$169,562.18	146296.679597	$9,564.73	8231.2648
AERO	$75,045.12	154239.29079951	$7,221.13	14384.7139
MAMO	$15,246.41	1852938.73855396	N/A	N/A
USDS	$909.98	910.20074273	$146.52	146.5171
WELL	$58.94	25369.07171185	$5,911.91	2955954.4627
weETH	$9.83	0.00371065	$142.28	0.0516
rETH	$6.74	0.0023975	$1,781.15	0.6083
wrsETH	$3.51	0.00135258	$3,205.56	1.1877
tBTC	$3.10	0.00003988	$6,138.34	0.0757
LBTC	$2.21	0.00002822	$40.74	0.0005
USDbC	$0.03	0.033628	$4.56	4.5633

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
cbETH	+0% from 687.84 cbETH to 687.96 cbETH	+0% from 687.84 cbETH to 687.96 cbETH	0% from 100.00% to 100.00%
USDC	+3% from 11.28M USDC to 11.60M USDC	-14% from 13.45M USDC to 11.60M USDC	+19% from 83.88% to 100.00%
USDS	-1% from 9.97K USDS to 9.85K USDS	-15% from 11.54K USDS to 9.85K USDS	+16% from 86.40% to 99.99%
EURC	-19% from 428.96K EURC to 345.74K EURC	-35% from 533.42K EURC to 345.75K EURC	+24% from 80.42% to 100.00%
VIRTUAL	+0% from 1.25M VIRTUAL to 1.25M VIRTUAL	-4% from 1.58M VIRTUAL to 1.52M VIRTUAL	+4% from 79.37% to 82.37%
WETH	-30% from 3.84K WETH to 2.70K WETH	-19% from 4.63K WETH to 3.77K WETH	-14% from 82.80% to 71.43%
DAI	-0% from 12.56K DAI to 12.54K DAI	+0% from 21.33K DAI to 21.33K DAI	-0% from 58.91% to 58.77%
MAMO	+21% from 2.42M MAMO to 2.92M MAMO	-23% from 4.90M MAMO to 3.78M MAMO	+57% from 49.32% to 77.19%
wstETH	+251% from 131.68 wstETH to 462.69 wstETH	-31% from 1.07K wstETH to 745.67 wstETH	+406% from 12.25% to 62.05%
cbBTC	+445% from 11.89 cbBTC to 64.83 cbBTC	-45% from 169.99 cbBTC to 93.43 cbBTC	+892% from 6.99% to 69.39%
MORPHO	+0% from 147.02K MORPHO to 147.55K MORPHO	-95% from 5.62M MORPHO to 306.08K MORPHO	+1741% from 2.62% to 48.21%
cbXRP	-0% from 787.76K cbXRP to 787.75K cbXRP	-11% from 2.38M cbXRP to 2.11M cbXRP	+13% from 33.08% to 37.38%
AERO	-48% from 5.19M AERO to 2.68M AERO	-21% from 19.03M AERO to 15.06M AERO	-35% from 27.27% to 17.78%
WELL	-24% from 24.29M WELL to 18.53M WELL	-26% from 183.97M WELL to 135.74M WELL	+3% from 13.20% to 13.65%
USDbC	+0% from 893.53 USDbC to 893.58 USDbC	-0% from 8.01K USDbC to 8.01K USDbC	+0% from 11.15% to 11.15%
tBTC	0% from 0.06 tBTC to 0.06 tBTC	-36% from 0.85 tBTC to 0.55 tBTC	+55% from 6.60% to 10.26%
rETH	+0% from 11.03 rETH to 11.03 rETH	-21% from 717.46 rETH to 565.78 rETH	+27% from 1.54% to 1.95%
LBTC	-26% from 0.78 LBTC to 0.58 LBTC	-6% from 50.39 LBTC to 47.37 LBTC	-21% from 1.56% to 1.23%
weETH	-1% from 0.19 weETH to 0.19 weETH	-14% from 66.92 weETH to 57.83 weETH	+14% from 0.28% to 0.32%
VVV	-89% from 1000.00 VVV to 108.92 VVV	-11% from 75.23K VVV to 66.85K VVV	-88% from 1.33% to 0.16%
wrsETH	-55% from 0.01 wrsETH to 0.00 wrsETH	-0% from 28.87 wrsETH to 28.85 wrsETH	-55% from 0.03% to 0.01%

Notable Trends

• MORPHO supply -95% (5.62M → 306.08K MORPHO)
• cbBTC supply -45% (169.99 → 93.43 cbBTC)
• cbBTC borrows +445% (11.89 → 64.83 cbBTC)
• WETH borrows -30% (3.84K → 2.70K WETH)
• WETH supply -19% (4.63K → 3.77K WETH)
• AERO supply -21% (19.03M → 15.06M AERO)

Liquidations

• Total liquidations: 918
• Total Collateral Seized (USD): $2,394,442.22
• Total Debt Repaid (USD): $2,176,765.65
• Total Liquidation Bonus (USD): $217,676.57
• Total Liquidator Bonus (USD): $152,373.60
• Total Protocol Bonus (USD): $65,302.97

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
MAMO	55,776,287.278160	$2,005,953.21	$1,823,593.83	$182,359.38	$127,651.57	$54,707.81	604
EURC	229,968.257737	$267,943.51	$243,585.01	$24,358.50	$17,050.95	$7,307.55	86
USDC	106,137.187998	$106,135.32	$96,486.65	$9,648.67	$6,754.07	$2,894.60	70
cbBTC	0.070187	$5,444.74	$4,949.77	$494.98	$346.48	$148.49	14
USDS	4,031.735620	$4,031.49	$3,664.99	$366.50	$256.55	$109.95	5
WELL	912,216.707200	$2,466.60	$2,242.36	$224.24	$156.97	$67.27	37
MORPHO	543.645903	$1,425.93	$1,296.30	$129.63	$90.74	$38.89	8
WETH	0.223590	$562.86	$511.69	$51.17	$35.82	$15.35	33
cbXRP	134.715418	$193.88	$176.25	$17.63	$12.34	$5.29	8
AERO	218.655672	$114.37	$103.97	$10.40	$7.28	$3.12	17
VVV	4.575767	$84.39	$76.72	$7.67	$5.37	$2.30	19
cbETH	0.023353	$63.57	$57.80	$5.78	$4.05	$1.73	6
LBTC	0.000094	$7.55	$6.86	$0.69	$0.48	$0.21	3
wrsETH	0.001750	$4.79	$4.35	$0.44	$0.30	$0.13	2
wstETH	0.001263	$3.98	$3.62	$0.36	$0.25	$0.11	2
USDbC	3.230680	$3.23	$2.94	$0.29	$0.21	$0.09	1
tBTC	0.000017	$1.36	$1.24	$0.12	$0.09	$0.04	1
weETH	0.000343	$0.96	$0.87	$0.09	$0.06	$0.03	1
rETH	0.000161	$0.48	$0.44	$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
cbETH	0.00	0.00	0.00%	0.00%	99.98%
USDC	34.00M	36.40M	1.62%	1.85%	81.96%
DAI	0.00	0.00	0.00%	0.00%	70.80%
USDT	18.40M	22.60M	0.19%	0.22%	70.33%
WETH	30.00K	32.00K	0.34%	0.65%	49.11%
OP	0.00	0.00	0.00%	0.00%	34.75%
USDT0	8.00M	10.00M	0.14%	0.32%	33.98%
rETH	0.00	0.00	0.00%	0.00%	15.73%
WBTC	0.00	0.00	0.00%	0.00%	13.07%
weETH	0.00	0.00	0.00%	0.00%	3.58%
VELO	0.00	0.00	0.00%	0.00%	3.00%
wstETH	0.00	5.00K	0.00%	2.62%	1.62%
wrsETH	0.00	0.00	0.00%	0.00%	0.33%

Bad Debt & Reserves

Market	Bad Debt (USD)	Bad Debt (tokens)	Reserves (USD)	Reserves (tokens)
rETH	$6,016.00	2.04452827	$0.88	0.0003
cbETH	$550.00	0.19228614	$26.48	0.0093
WETH	$91.00	0.03626617	$77,623.30	31.041
VELO	$36.00	1465.55210608	$14,256.11	594004.6715

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
cbETH	0% from 0.19 cbETH to 0.19 cbETH	0% from 0.19 cbETH to 0.19 cbETH	0% from 99.98% to 99.98%
USDC	-3% from 566.27K USDC to 549.78K USDC	-2% from 679.45K USDC to 668.93K USDC	-1% from 83.34% to 82.19%
DAI	+0% from 17.72K DAI to 17.73K DAI	-1% from 25.22K DAI to 24.99K DAI	+1% from 70.29% to 70.95%
USDT	+18% from 33.15K USDT to 39.23K USDT	+14% from 47.38K USDT to 54.19K USDT	+3% from 69.98% to 72.39%
WETH	-11% from 108.97 WETH to 96.59 WETH	-15% from 237.65 WETH to 202.97 WETH	+4% from 45.85% to 47.59%
OP	+16% from 206.13K OP to 238.89K OP	-5% from 678.82K OP to 644.09K OP	+22% from 30.37% to 37.09%
USDT0	+15% from 10.15K USDT0 to 11.72K USDT0	-11% from 35.39K USDT0 to 31.47K USDT0	+30% from 28.69% to 37.23%
rETH	+0% from 2.05 rETH to 2.05 rETH	-1% from 13.07 rETH to 12.98 rETH	+1% from 15.65% to 15.77%
WBTC	0% from 0.00 WBTC to 0.00 WBTC	0% from 0.00 WBTC to 0.00 WBTC	0% from 13.07% to 13.07%
weETH	0% from 0.26 weETH to 0.26 weETH	0% from 7.32 weETH to 7.32 weETH	0% from 3.58% to 3.58%
VELO	-64% from 2.17M VELO to 771.10K VELO	-22% from 33.08M VELO to 25.76M VELO	-54% from 6.57% to 2.99%
wstETH	0% from 2.11 wstETH to 2.11 wstETH	-13% from 143.41 wstETH to 125.19 wstETH	+15% from 1.47% to 1.69%
wrsETH	0% from 0.00 wrsETH to 0.00 wrsETH	-1% from 1.22 wrsETH to 1.21 wrsETH	+1% from 0.33% to 0.33%

Notable Trends

• VELO supply -22% (33.08M → 25.76M VELO)
• WETH supply -15% (237.65 → 202.97 WETH)
• wstETH supply -13% (143.41 → 125.19 wstETH)
• VELO borrows -64% (2.17M → 771.10K VELO**)
• WETH borrows -11% (108.97 → 96.59 WETH)

Liquidations

• Total liquidations: 4
• Total Collateral Seized (USD): $164.86
• Total Debt Repaid (USD): $149.87
• Total Liquidation Bonus (USD): $14.99
• Total Liquidator Bonus (USD): $10.49
• Total Protocol Bonus (USD): $4.50

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
OP	1,750.250320	$164.16	$149.24	$14.92	$10.45	$4.48	3
wstETH	0.000224	$0.70	$0.63	$0.06	$0.04	$0.02	1

Ethereum

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
USDC	180.00M	200.00M	0.09%	0.11%	73.49%
WETH	20.00K	30.00K	1.91%	1.96%	65.15%
USDT	180.00M	200.00M	0.06%	0.09%	60.12%
cbBTC	600.00	1.00K	0.92%	1.36%	40.60%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
USDC	-51% from 308.06K USDC to 151.71K USDC	-48% from 403.42K USDC to 208.78K USDC	-5% from 76.36% to 72.66%
WETH	+5% from 365.95 WETH to 384.79 WETH	-12% from 638.48 WETH to 561.92 WETH	+19% from 57.32% to 68.48%
USDT	-50% from 205.00K USDT to 102.07K USDT	-47% from 308.10K USDT to 162.27K USDT	-5% from 66.54% to 62.90%
cbBTC	-24% from 5.96 cbBTC to 4.56 cbBTC	-29% from 15.15 cbBTC to 10.69 cbBTC	+8% from 39.36% to 42.66%

Notable Trends

• cbBTC supply -29% (15.15 → 10.69 cbBTC)
• USDC supply -48% (403.42K → 208.78K USDC)
• WETH supply -12% (638.48 → 561.92 WETH)
• USDC borrows -51% (308.06K → 151.71K USDC)
• USDT supply -47% (308.10K → 162.27K USDT)
• cbBTC borrows -24% (5.96 → 4.56 cbBTC)

Liquidations

No liquidation events this week.

[AnthiasLabs]

Weekly Update (9/4/26 - 9/10/26)

Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, Ethereum and OP Mainnet. Data from 9/4/26 to 9/10/26, through the latest available September 10 snapshots. More information can be found on our monitoring dashboard.

Base

Source: Anthias monitoring dashboard, 7d view; amounts in USD.

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
cbETH	0.00	4.00K	N/A	17.20%	100.00%
MAMO	0.00	0.00	N/A	N/A	100.00%
USDS	0.00	0.00	N/A	N/A	99.99%
USDC	0.00	200.00M	N/A	5.29%	99.96%
EURC	0.00	21.90M	N/A	1.55%	99.77%
MORPHO	0.00	400.00K	N/A	46.24%	87.71%
VIRTUAL	0.00	4.50M	N/A	33.24%	83.81%
WETH	0.00	96.00K	N/A	3.05%	83.31%
cbBTC	0.00	1.50K	N/A	5.85%	70.26%
wstETH	0.00	14.40K	N/A	5.13%	63.43%
DAI	0.00	0.00	N/A	N/A	61.67%
cbXRP	0.00	5.00M	N/A	41.58%	37.90%
AERO	0.00	20.00M	N/A	61.89%	20.48%
WELL	0.00	0.00	N/A	N/A	13.75%
tBTC	0.00	0.00	N/A	N/A	11.48%
USDbC	0.00	1.00	N/A	800.62K%	11.16%
rETH	0.00	0.00	N/A	N/A	1.96%
LBTC	0.00	95.00	N/A	48.74%	1.19%
weETH	0.00	5.40K	N/A	1.07%	0.32%
VVV	0.00	170.00K	N/A	37.77%	0.12%
wrsETH	0.00	0.00	N/A	N/A	0.01%

Bad Debt & Reserves

Market	Bad Debt (USD)	Bad Debt (tokens)	Reserves (USD)	Reserves (tokens)
cbBTC	$4,219,355.01	54.08273052	$4,689.01	0.0602
USDC	$2,310,800.93	2311013.494462	$56,851.28	56851.282
cbETH	$1,898,048.32	675.45133431	$9,034.74	3.2208
WETH	$1,842,625.90	746.62671786	$879.76	0.3571
wstETH	$1,220,443.39	397.47321043	$3,630.95	1.1846
cbXRP	$1,026,172.98	745842.589073	$323.90	235.3906
VIRTUAL	$805,089.01	1241935.43017855	$265.98	410.4604
MORPHO	$242,722.46	106436.08381487	$1,504.62	659.9197
EURC	$171,877.72	147911.593243	$9,958.12	8569.8101
AERO	$85,927.81	154377.49224977	$667.36	1204.6247
MAMO	$15,225.94	2075981.5795641	$13,334.82	1904974.1492
USDS	$923.93	924.04890465	$168.14	168.1439
WELL	$51.81	25383.88361698	$139.22	69608.9175
weETH	$9.89	0.00362984	$0.00	0
rETH	$6.94	0.00239756	$0.58	0.0002
wrsETH	$3.60	0.00135258	$0.00	0
tBTC	$3.11	0.00003989	$7.77	0.0001
LBTC	$2.21	0.00002822	$0.00	0
USDbC	$0.03	0.033633	$0.12	0.1216

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
cbETH	+0% from 687.98 cbETH to 688.10 cbETH	+0% from 687.98 cbETH to 688.10 cbETH	0% from 100.00% to 100.00%
MAMO	+12% from 3.10M MAMO to 3.47M MAMO	+12% from 3.10M MAMO to 3.47M MAMO	+0% from 100.00% to 100.00%
USDS	+1% from 9.85K USDS to 9.97K USDS	+1% from 9.85K USDS to 9.98K USDS	+0% from 99.99% to 100.00%
USDC	-21% from 11.48M USDC to 9.01M USDC	-21% from 11.48M USDC to 9.01M USDC	0% from 100.00% to 100.00%
EURC	-3% from 347.07K EURC to 337.97K EURC	-3% from 347.08K EURC to 337.97K EURC	+0% from 99.99% to 100.00%
MORPHO	-0% from 147.63K MORPHO to 147.62K MORPHO	-51% from 306.04K MORPHO to 148.54K MORPHO	+106% from 48.24% to 99.38%
VIRTUAL	+0% from 1.25M VIRTUAL to 1.25M VIRTUAL	-2% from 1.51M VIRTUAL to 1.48M VIRTUAL	+2% from 82.73% to 84.41%
WETH	-42% from 2.70K WETH to 1.56K WETH	-47% from 3.74K WETH to 1.97K WETH	+10% from 72.12% to 79.17%
cbBTC	-8% from 64.10 cbBTC to 58.69 cbBTC	-13% from 94.92 cbBTC to 82.35 cbBTC	+6% from 67.53% to 71.27%
wstETH	+0% from 464.01 wstETH to 464.85 wstETH	-17% from 791.04 wstETH to 652.94 wstETH	+21% from 58.66% to 71.19%
DAI	+0% from 12.54K DAI to 12.57K DAI	-8% from 21.33K DAI to 19.54K DAI	+9% from 58.77% to 64.34%
cbXRP	+0% from 787.77K cbXRP to 787.91K cbXRP	-2% from 2.10M cbXRP to 2.06M cbXRP	+2% from 37.43% to 38.23%
AERO	-34% from 2.68M AERO to 1.77M AERO	-60% from 15.00M AERO to 5.98M AERO	+65% from 17.85% to 29.53%
WELL	-1% from 18.54M WELL to 18.26M WELL	-3% from 135.73M WELL to 131.91M WELL	+1% from 13.66% to 13.84%
tBTC	0% from 0.06 tBTC to 0.06 tBTC	-16% from 0.55 tBTC to 0.46 tBTC	+18% from 10.26% to 12.15%
USDbC	+0% from 893.61 USDbC to 893.67 USDbC	-0% from 8.01K USDbC to 8.00K USDbC	+0% from 11.16% to 11.17%
rETH	-2% from 11.03 rETH to 10.79 rETH	-10% from 565.78 rETH to 512.02 rETH	+8% from 1.95% to 2.11%
LBTC	-5% from 0.58 LBTC to 0.55 LBTC	-8% from 47.37 LBTC to 43.75 LBTC	+2% from 1.23% to 1.25%
weETH	-1% from 0.19 weETH to 0.19 weETH	+0% from 57.83 weETH to 58.05 weETH	-1% from 0.32% to 0.32%
VVV	-52% from 108.92 VVV to 52.12 VVV	-12% from 66.79K VVV to 58.77K VVV	-46% from 0.16% to 0.09%
wrsETH	0% from 0.00 wrsETH to 0.00 wrsETH	-4% from 28.85 wrsETH to 27.67 wrsETH	+4% from 0.01% to 0.02%

Notable Trends

• AERO supply -60% (15.00M → 5.98M AERO)
• WETH supply -47% (3.74K → 1.97K WETH)
• WETH borrows -42% (2.70K → 1.56K WETH)
• USDC supply -21% (11.48M → 9.01M USDC)
• USDC borrows -21% (11.48M → 9.01M USDC)
• cbBTC supply -13% (94.92 → 82.35 cbBTC)

Liquidations

• Total liquidations: 81
• Total Collateral Seized (USD): $36,280.93
• Total Debt Repaid (USD): $32,982.66
• Total Liquidation Bonus (USD): $3,298.27
• Total Liquidator Bonus (USD): $2,308.79
• Total Protocol Bonus (USD): $989.48

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
USDC	24,823.081915	$24,820.31	$22,563.92	$2,256.39	$1,579.47	$676.92	24
cbBTC	0.095476	$7,620.19	$6,927.45	$692.74	$484.92	$207.82	2
cbETH	0.435201	$1,237.51	$1,125.01	$112.50	$78.75	$33.75	14
WELL	475,921.903000	$885.63	$805.11	$80.51	$56.36	$24.15	4
AERO	1,020.333482	$508.32	$462.11	$46.21	$32.35	$13.86	7
VIRTUAL	552.287673	$403.46	$366.78	$36.68	$25.67	$11.00	2
tBTC	0.004450	$351.72	$319.74	$31.97	$22.38	$9.59	4
VVV	15.999900	$332.37	$302.15	$30.22	$21.15	$9.06	1
WETH	0.039707	$98.25	$89.32	$8.93	$6.25	$2.68	19
cbXRP	13.362900	$18.58	$16.89	$1.69	$1.18	$0.51	1
DAI	4.024520	$4.02	$3.66	$0.37	$0.26	$0.11	1
EURC	0.502736	$0.58	$0.53	$0.05	$0.04	$0.02	2

OP Mainnet

Source: Anthias monitoring dashboard, 7d view; amounts in USD.

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
cbETH	0.00	0.00	N/A	N/A	99.98%
USDC	34.00M	36.40M	0.93%	1.04%	85.41%
DAI	0.00	0.00	N/A	N/A	74.70%
USDT	18.40M	10.00M	0.21%	0.57%	69.46%
USDT0	8.00M	10.00M	0.17%	0.29%	45.79%
OP	0.00	0.00	N/A	N/A	29.92%
rETH	0.00	0.00	N/A	N/A	15.78%
WBTC	0.00	0.00	N/A	N/A	13.28%
WETH	30.00K	32.00K	0.08%	0.55%	13.10%
wstETH	0.00	5.00K	N/A	1.00%	4.78%
weETH	0.00	0.00	N/A	N/A	3.63%
VELO	0.00	0.00	N/A	N/A	3.29%
wrsETH	0.00	0.00	N/A	N/A	0.35%

Bad Debt & Reserves

Market	Bad Debt (USD)	Bad Debt (tokens)	Reserves (USD)	Reserves (tokens)
rETH	$5,895.00	2.04493045	$1.73	0.0006
cbETH	$539.00	0.19228614	$26.10	0.0093
WETH	$89.00	0.03626756	$2.71	0.0011
VELO	$34.00	1466.19907736	$6.97	290.2618

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
cbETH	0% from 0.19 cbETH to 0.19 cbETH	0% from 0.19 cbETH to 0.19 cbETH	0% from 99.98% to 99.98%
USDC	-67% from 550.27K USDC to 182.79K USDC	-70% from 669.32K USDC to 199.76K USDC	+11% from 82.21% to 91.51%
DAI	+0% from 17.73K DAI to 17.76K DAI	-10% from 24.99K DAI to 22.40K DAI	+12% from 70.95% to 79.30%
USDT	+0% from 39.23K USDT to 39.26K USDT	-20% from 64.19K USDT to 51.41K USDT	+25% from 61.12% to 76.36%
USDT0	+66% from 11.69K USDT0 to 19.37K USDT0	-11% from 31.47K USDT0 to 27.99K USDT0	+86% from 37.16% to 69.19%
OP	-23% from 238.05K OP to 183.20K OP	-4% from 644.13K OP to 620.23K OP	-20% from 36.96% to 29.54%
rETH	+0% from 2.05 rETH to 2.05 rETH	-0% from 12.97 rETH to 12.97 rETH	+0% from 15.78% to 15.78%
WBTC	0% from 0.00 WBTC to 0.00 WBTC	0% from 0.00 WBTC to 0.00 WBTC	+2% from 13.07% to 13.38%
WETH	-84% from 95.61 WETH to 15.55 WETH	-23% from 202.93 WETH to 157.23 WETH	-79% from 47.11% to 9.89%
wstETH	+0% from 2.11 wstETH to 2.11 wstETH	-68% from 125.19 wstETH to 40.22 wstETH	+211% from 1.69% to 5.25%
weETH	0% from 0.26 weETH to 0.26 weETH	-2% from 7.32 weETH to 7.16 weETH	+2% from 3.58% to 3.66%
VELO	-0% from 771.15K VELO to 770.68K VELO	-9% from 25.46M VELO to 23.08M VELO	+10% from 3.03% to 3.34%
wrsETH	-5% from 0.00 wrsETH to 0.00 wrsETH	-12% from 1.21 wrsETH to 1.06 wrsETH	+8% from 0.33% to 0.36%

Notable Trends

• USDC supply -70% (669.32K → 199.76K USDC)
• USDC borrows -67% (550.27K → 182.79K USDC)
• wstETH supply -68% (125.19 → 40.22 wstETH)
• WETH borrows -84% (95.61 → 15.55 WETH)
• WETH supply -23% (202.93 → 157.23 WETH)
• VELO supply -9% (25.46M → 23.08M VELO)

Liquidations

• Total liquidations: 8
• Total Collateral Seized (USD): $27.88
• Total Debt Repaid (USD): $25.35
• Total Liquidation Bonus (USD): $2.53
• Total Liquidator Bonus (USD): $1.77
• Total Protocol Bonus (USD): $0.76

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
DAI	19.365900	$19.36	$17.60	$1.76	$1.23	$0.53	1
rETH	0.001968	$5.65	$5.14	$0.51	$0.36	$0.15	2
wrsETH	0.000473	$1.28	$1.17	$0.12	$0.08	$0.03	2
USDT0	0.624643	$0.62	$0.57	$0.06	$0.04	$0.02	1
VELO	21.199200	$0.50	$0.45	$0.05	$0.03	$0.01	1
wstETH	0.000149	$0.47	$0.42	$0.04	$0.03	$0.01	1

Ethereum

Source: Anthias monitoring dashboard, 7d view; amounts in USD.

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
USDC	180.00M	200.00M	0.05%	0.05%	85.97%
WETH	20.00K	30.00K	1.92%	1.87%	68.52%
USDT	180.00M	200.00M	0.05%	0.08%	57.73%
cbBTC	600.00	1.00K	0.39%	0.75%	32.05%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
USDC	-50% from 151.76K USDC to 76.31K USDC	-56% from 204.83K USDC to 90.05K USDC	+14% from 74.09% to 84.75%
WETH	+0% from 384.79 WETH to 384.96 WETH	-2% from 561.92 WETH to 550.16 WETH	+2% from 68.48% to 69.97%
USDT	-10% from 102.09K USDT to 91.64K USDT	-5% from 166.29K USDT to 158.51K USDT	-6% from 61.39% to 57.81%
cbBTC	-50% from 4.56 cbBTC to 2.30 cbBTC	-42% from 10.69 cbBTC to 6.24 cbBTC	-14% from 42.66% to 36.89%

Notable Trends

• cbBTC supply -42% (10.69 → 6.24 cbBTC)
• cbBTC borrows -50% (4.56 → 2.30 cbBTC)
• USDC supply -56% (204.83K → 90.05K USDC)
• USDC borrows -50% (151.76K → 76.31K USDC)
• WETH supply -2% (561.92 → 550.16 WETH)
• USDT borrows -10% (102.09K → 91.64K USDT)

Liquidations

No liquidation events this week, as shown on the Ethereum liquidations dashboard.

[AnthiasLabs]

Weekly Update (9/11/26 - 9/17/26)

Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, Ethereum and OP Mainnet. Data from 9/11/26 to 9/17/26. 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
MAMO	0.00	0.00	N/A	N/A	100.00%
USDC	0.00	200.00M	N/A	4.43%	100.00%
cbETH	0.00	4.00K	N/A	17.20%	100.00%
EURC	0.00	21.90M	N/A	1.55%	100.00%
USDS	0.00	0.00	N/A	N/A	100.00%
MORPHO	0.00	400.00K	N/A	37.33%	99.13%
VIRTUAL	0.00	4.50M	N/A	32.98%	84.47%
WETH	0.00	96.00K	N/A	1.95%	83.47%
cbBTC	0.00	1.50K	N/A	5.46%	71.50%
wstETH	0.00	14.40K	N/A	4.54%	71.17%
DAI	0.00	0.00	N/A	N/A	64.37%
cbXRP	0.00	5.00M	N/A	39.78%	39.39%
AERO	0.00	20.00M	N/A	28.40%	29.75%
WELL	0.00	0.00	N/A	N/A	13.85%
tBTC	0.00	0.00	N/A	N/A	12.78%
USDbC	0.00	1.00	N/A	800.13K%	11.17%
rETH	0.00	0.00	N/A	N/A	2.11%
LBTC	0.00	95.00	N/A	45.84%	0.90%
weETH	0.00	5.40K	N/A	1.07%	0.32%
VVV	0.00	170.00K	N/A	34.53%	0.09%
wrsETH	0.00	0.00	N/A	N/A	0.02%

Bad Debt & Reserves

Market	Gross exposure (USD)	Gross exposure (tokens)	Reserves (USD)	Reserves (tokens)
cbBTC	$4,143,092.23	54.12964648	$4,958.30	0.0651
USDC	$2,316,740.91	2317163.396525	$59,579.55	59579.5492
cbETH	$1,896,044.34	675.59357343	$9,316.35	3.3656
WETH	$1,839,811.23	746.7925734	$954.62	0.3928
wstETH	$1,219,920.74	397.82247562	$3,763.59	1.2449
cbXRP	$971,886.94	745987.695895	$725.54	560.2596
VIRTUAL	$755,460.13	1242165.36293109	$382.71	627.3999
MORPHO	$231,562.26	106918.27525121	$1,917.59	893.9809
EURC	$170,220.73	148385.692986	$9,947.06	8672.2415
AERO	$91,401.24	154585.46953415	$1,091.22	1973.2721
MAMO	$14,598.59	2076329.74682542	$13,338.11	1905443.7
USDS	$928.19	928.33273173	$213.93	213.9255
WELL	$48.91	25398.05217062	$144.31	72156.9437
weETH	$9.87	0.00362987	$0.00	0
rETH	$6.92	0.00239762	$1.42	0.0005
wrsETH	$3.60	0.00135258	$0.00	0
tBTC	$3.06	0.0000399	$7.64	0.0001
LBTC	$2.17	0.00002822	$7.65	0.0001
USDbC	$0.03	0.033635	$0.20	0.1968

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
MAMO	+0% from 3.47M MAMO to 3.47M MAMO	+0% from 3.47M MAMO to 3.47M MAMO	0% from 100.00% to 100.00%
USDC	-4% from 9.01M USDC to 8.62M USDC	-4% from 9.01M USDC to 8.62M USDC	0% from 100.00% to 100.00%
cbETH	+0% from 688.10 cbETH to 688.22 cbETH	+0% from 688.10 cbETH to 688.22 cbETH	0% from 100.00% to 100.00%
EURC	+0% from 338.00K EURC to 338.95K EURC	+0% from 338.00K EURC to 338.95K EURC	0% from 100.00% to 100.00%
USDS	+0% from 9.97K USDS to 10.02K USDS	+0% from 9.98K USDS to 10.02K USDS	+0% from 100.00% to 100.00%
MORPHO	+0% from 147.68K MORPHO to 148.28K MORPHO	-2% from 150.65K MORPHO to 148.33K MORPHO	+2% from 98.03% to 99.97%
VIRTUAL	+0% from 1.25M VIRTUAL to 1.25M VIRTUAL	-0% from 1.48M VIRTUAL to 1.48M VIRTUAL	+0% from 84.41% to 84.50%
WETH	+0% from 1.56K WETH to 1.56K WETH	-7% from 1.97K WETH to 1.83K WETH	+8% from 79.18% to 85.15%
cbBTC	-0% from 58.69 cbBTC to 58.42 cbBTC	-1% from 82.42 cbBTC to 81.50 cbBTC	+1% from 71.21% to 71.68%
wstETH	+0% from 464.88 wstETH to 465.20 wstETH	+0% from 652.94 wstETH to 653.02 wstETH	+0% from 71.20% to 71.24%
DAI	+0% from 12.57K DAI to 12.61K DAI	+0% from 19.54K DAI to 19.58K DAI	+0% from 64.34% to 64.40%
cbXRP	-1% from 787.92K cbXRP to 777.01K cbXRP	-19% from 2.06M cbXRP to 1.67M cbXRP	+22% from 38.23% to 46.56%
AERO	-9% from 1.77M AERO to 1.61M AERO	-10% from 5.96M AERO to 5.38M AERO	+1% from 29.66% to 29.88%
WELL	+0% from 18.26M WELL to 18.27M WELL	-0% from 131.91M WELL to 131.82M WELL	+0% from 13.84% to 13.86%
tBTC	-8% from 0.06 tBTC to 0.05 tBTC	-11% from 0.46 tBTC to 0.41 tBTC	+3% from 12.14% to 12.55%
USDbC	+0% from 893.67 USDbC to 893.71 USDbC	+0% from 8.00K USDbC to 8.00K USDbC	+0% from 11.17% to 11.17%
rETH	-0% from 10.79 rETH to 10.78 rETH	-0% from 512.02 rETH to 512.00 rETH	-0% from 2.11% to 2.10%
LBTC	-60% from 0.55 LBTC to 0.22 LBTC	-1% from 43.75 LBTC to 43.34 LBTC	-60% from 1.25% to 0.51%
weETH	-8% from 0.19 weETH to 0.17 weETH	-2% from 58.05 weETH to 57.16 weETH	-7% from 0.32% to 0.30%
VVV	+0% from 52.12 VVV to 52.12 VVV	-1% from 58.77K VVV to 58.37K VVV	+1% from 0.09% to 0.09%
wrsETH	0% from 0.00 wrsETH to 0.00 wrsETH	0% from 27.67 wrsETH to 27.67 wrsETH	0% from 0.02% to 0.02%

Notable Trends

• cbXRP supply -19% (2.06M → 1.67M cbXRP)
• USDC borrows -4% (9.01M → 8.62M USDC)
• USDC supply -4% (9.01M → 8.62M USDC)
• WETH supply -7% (1.97K → 1.83K WETH)
• AERO supply -10% (5.96M → 5.38M AERO)
• AERO borrows -9% (1.77M → 1.61M AERO)

Liquidations

• Total liquidations: 31
• Total Collateral Seized (USD): $8,518.46
• Total Debt Repaid (USD): $7,744.06
• Total Liquidation Bonus (USD): $774.41
• Total Liquidator Bonus (USD): $542.08
• Total Protocol Bonus (USD): $232.32

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
cbXRP	5,799.432070	$8,026.31	$7,296.64	$729.66	$510.76	$218.90	7
LBTC	0.002384	$186.76	$169.78	$16.98	$11.88	$5.09	1
cbETH	0.047825	$137.38	$124.89	$12.49	$8.74	$3.75	5
cbBTC	0.000850	$65.27	$59.34	$5.93	$4.15	$1.78	2
WETH	0.024990	$62.80	$57.10	$5.71	$4.00	$1.71	10
AERO	33.433200	$17.35	$15.77	$1.58	$1.10	$0.47	1
VIRTUAL	29.116800	$16.94	$15.40	$1.54	$1.08	$0.46	1
USDC	5.637302	$5.64	$5.12	$0.51	$0.36	$0.15	3
USDS	0.024134	$0.02	$0.02	$0.00	$0.00	$0.00	1

OP Mainnet

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
cbETH	0.00	0.00	N/A	N/A	99.98%
DAI	0.00	0.00	N/A	N/A	97.21%
USDC	34.00M	36.40M	0.48%	0.53%	84.28%
USDT	18.40M	10.00M	0.21%	0.50%	78.54%
USDT0	8.00M	10.00M	0.17%	0.28%	48.81%
WETH	30.00K	32.00K	0.16%	0.46%	33.33%
OP	0.00	0.00	N/A	N/A	29.95%
rETH	0.00	0.00	N/A	N/A	15.78%
WBTC	0.00	0.00	N/A	N/A	13.38%
VELO	0.00	0.00	N/A	N/A	3.89%
wstETH	0.00	5.00K	N/A	1.46%	3.36%
weETH	0.00	0.00	N/A	N/A	3.06%
wrsETH	0.00	0.00	N/A	N/A	0.36%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
cbETH	0% from 0.19 cbETH to 0.19 cbETH	0% from 0.19 cbETH to 0.19 cbETH	0% from 99.98% to 99.98%
DAI	+0% from 17.76K DAI to 17.77K DAI	-21% from 22.40K DAI to 17.77K DAI	+26% from 79.30% to 99.96%
USDC	-19% from 182.83K USDC to 148.19K USDC	-7% from 199.85K USDC to 185.31K USDC	-13% from 91.48% to 79.97%
USDT	+0% from 39.26K USDT to 39.27K USDT	-4% from 51.41K USDT to 49.42K USDT	+4% from 76.36% to 79.46%
USDT0	-48% from 19.37K USDT0 to 10.08K USDT0	-1% from 27.99K USDT0 to 27.68K USDT0	-47% from 69.19% to 36.42%
WETH	+592% from 15.54 WETH to 107.61 WETH	-10% from 157.23 WETH to 140.91 WETH	+673% from 9.89% to 76.37%
OP	+0% from 183.20K OP to 183.38K OP	-2% from 620.23K OP to 607.96K OP	+2% from 29.54% to 30.16%
rETH	+0% from 2.05 rETH to 2.05 rETH	+0% from 12.97 rETH to 12.97 rETH	+0% from 15.78% to 15.78%
WBTC	0% from 0.00 WBTC to 0.00 WBTC	0% from 0.00 WBTC to 0.00 WBTC	0% from 13.38% to 13.38%
VELO	-0% from 770.68K VELO to 769.38K VELO	-20% from 23.08M VELO to 18.49M VELO	+25% from 3.34% to 4.16%
wstETH	+0% from 2.11 wstETH to 2.11 wstETH	+232% from 40.22 wstETH to 133.39 wstETH	-70% from 5.25% to 1.58%
weETH	-18% from 0.26 weETH to 0.21 weETH	0% from 7.16 weETH to 7.16 weETH	-18% from 3.66% to 2.98%
wrsETH	0% from 0.00 wrsETH to 0.00 wrsETH	-0% from 1.06 wrsETH to 1.06 wrsETH	+0% from 0.36% to 0.36%

Notable Trends

• wstETH supply +232% (40.22 → 133.39 wstETH)
• WETH borrows +592% (15.54 → 107.61 WETH)
• VELO supply -20% (23.08M → 18.49M VELO)
• WETH supply -10% (157.23 → 140.91 WETH)
• USDC borrows -19% (182.83K → 148.19K USDC)
• USDC supply -7% (199.85K → 185.31K USDC)

Liquidations

• Total liquidations: 3
• Total Collateral Seized (USD): $152.93
• Total Debt Repaid (USD): $139.02
• Total Liquidation Bonus (USD): $13.90
• Total Liquidator Bonus (USD): $9.73
• Total Protocol Bonus (USD): $4.17

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
USDC	152.537800	$152.52	$138.65	$13.87	$9.71	$4.16	2
OP	4.320320	$0.41	$0.37	$0.04	$0.03	$0.01	1

Ethereum

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
USDC	180.00M	200.00M	0.06%	0.06%	84.62%
WETH	20.00K	30.00K	1.92%	1.83%	69.97%
USDT	180.00M	200.00M	0.06%	0.08%	62.14%
cbBTC	600.00	1.00K	0.38%	0.45%	51.44%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
USDC	+73% from 76.31K USDC to 132.39K USDC	+69% from 90.05K USDC to 152.01K USDC	+3% from 84.75% to 87.09%
WETH	+0% from 384.96 WETH to 385.07 WETH	+0% from 550.16 WETH to 550.33 WETH	-0% from 69.97% to 69.97%
USDT	+32% from 91.64K USDT to 121.40K USDT	+3% from 158.51K USDT to 163.83K USDT	+28% from 57.81% to 74.10%
cbBTC	+0% from 2.30 cbBTC to 2.31 cbBTC	-18% from 6.24 cbBTC to 5.10 cbBTC	+22% from 36.89% to 45.18%

Notable Trends

• cbBTC supply -18% (6.24 → 5.10 cbBTC)
• USDC supply +69% (90.05K → 152.01K USDC)
• USDC borrows +73% (76.31K → 132.39K USDC)
• USDT borrows +32% (91.64K → 121.40K USDT)

Liquidations

No liquidation events this week.

[AnthiasLabs]

Weekly Update (9/18/26 - 9/24/26)

Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, Ethereum and OP Mainnet. Data from 9/18/26 to 9/24/26. 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
MAMO	0.00	0.00	N/A	N/A	100.00%
EURC	0.00	21.90M	N/A	1.55%	100.00%
USDC	0.00	200.00M	N/A	4.28%	100.00%
cbETH	0.00	4.00K	N/A	17.21%	100.00%
USDS	0.00	0.00	N/A	N/A	100.00%
MORPHO	0.00	400.00K	N/A	36.31%	99.06%
VIRTUAL	0.00	4.50M	N/A	32.51%	85.71%
WETH	0.00	96.00K	N/A	1.92%	84.21%
cbBTC	0.00	1.50K	N/A	5.03%	77.13%
wstETH	0.00	14.40K	N/A	4.54%	71.14%
DAI	0.00	0.00	N/A	N/A	64.45%
cbXRP	0.00	5.00M	N/A	32.85%	47.31%
AERO	0.00	20.00M	N/A	26.12%	29.94%
WELL	0.00	0.00	N/A	N/A	13.42%
tBTC	0.00	0.00	N/A	N/A	12.54%
USDbC	0.00	1.00	N/A	800.14K%	11.17%
rETH	0.00	0.00	N/A	N/A	2.12%
LBTC	0.00	95.00	N/A	45.62%	0.51%
VVV	0.00	170.00K	N/A	25.99%	0.38%
weETH	0.00	5.40K	N/A	1.06%	0.30%
wrsETH	0.00	0.00	N/A	N/A	0.02%

Bad Debt & Reserves

Market	Gross exposure (USD)	Gross exposure (tokens)	Reserves (USD)	Reserves (tokens)
cbBTC	$4,585,629.07	54.21672915	$6,277.57	0.0747
USDC	$2,324,177.61	2324455.743621	$62,826.83	62826.8316
cbETH	$2,074,649.79	675.72247911	$10,636.27	3.4959
WETH	$2,012,437.15	747.01021229	$1,145.80	0.4292
wstETH	$1,336,666.72	398.16290235	$4,343.03	1.3055
cbXRP	$1,141,430.66	746135.334938	$1,089.40	712.4912
VIRTUAL	$922,986.30	1242435.51829513	$642.83	875.7925
MORPHO	$301,733.69	107400.54056761	$3,137.03	1121.9719
EURC	$169,376.83	148950.94717	$10,029.50	8821.0206
AERO	$108,722.57	154796.77977992	$3,719.28	5320.8553
MAMO	$15,145.63	2076734.38847567	$13,342.79	1906112.9651
USDS	$930.39	930.43706142	$238.02	238.0223
WELL	$55.60	25412.54582799	$149.40	74700.5743
weETH	$10.80	0.0036299	$0.00	0
rETH	$7.57	0.00239767	$2.19	0.0007
wrsETH	$3.93	0.00135258	$0.00	0
tBTC	$3.38	0.0000399	$16.82	0.0002
LBTC	$2.40	0.00002822	$8.44	0.0001
USDbC	$0.03	0.033638	$0.27	0.2725

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
MAMO	+0% from 3.47M MAMO to 3.47M MAMO	+0% from 3.47M MAMO to 3.47M MAMO	0% from 100.00% to 100.00%
EURC	-0% from 338.95K EURC to 337.99K EURC	-0% from 338.95K EURC to 337.99K EURC	0% from 100.00% to 100.00%
USDC	-3% from 8.62M USDC to 8.36M USDC	-3% from 8.62M USDC to 8.36M USDC	0% from 100.00% to 100.00%
cbETH	+0% from 688.22 cbETH to 688.36 cbETH	+0% from 688.22 cbETH to 688.36 cbETH	0% from 100.00% to 100.00%
USDS	+0% from 10.02K USDS to 10.05K USDS	+0% from 10.02K USDS to 10.05K USDS	+0% from 100.00% to 100.00%
MORPHO	-8% from 148.34K MORPHO to 136.72K MORPHO	-5% from 148.39K MORPHO to 140.46K MORPHO	-3% from 99.96% to 97.33%
VIRTUAL	+0% from 1.25M VIRTUAL to 1.25M VIRTUAL	-2% from 1.48M VIRTUAL to 1.45M VIRTUAL	+3% from 84.50% to 86.64%
WETH	-3% from 1.56K WETH to 1.51K WETH	-0% from 1.83K WETH to 1.83K WETH	-3% from 85.15% to 82.60%
cbBTC	-1% from 58.42 cbBTC to 58.06 cbBTC	-14% from 81.50 cbBTC to 70.16 cbBTC	+15% from 71.68% to 82.74%
wstETH	-0% from 465.21 wstETH to 465.05 wstETH	-0% from 653.03 wstETH to 652.99 wstETH	-0% from 71.24% to 71.22%
DAI	+1% from 12.61K DAI to 12.68K DAI	+0% from 19.58K DAI to 19.65K DAI	+0% from 64.40% to 64.54%
cbXRP	-0% from 777.01K cbXRP to 776.74K cbXRP	-3% from 1.67M cbXRP to 1.63M cbXRP	+3% from 46.56% to 47.77%
AERO	-8% from 1.61M AERO to 1.48M AERO	-7% from 5.38M AERO to 5.01M AERO	-1% from 29.89% to 29.47%
WELL	-7% from 18.27M WELL to 17.02M WELL	-0% from 131.82M WELL to 131.73M WELL	-7% from 13.86% to 12.92%
tBTC	-1% from 0.05 tBTC to 0.05 tBTC	0% from 0.41 tBTC to 0.41 tBTC	-1% from 12.55% to 12.47%
USDbC	-0% from 893.71 USDbC to 892.54 USDbC	+0% from 8.00K USDbC to 8.00K USDbC	-0% from 11.17% to 11.15%
rETH	-0% from 10.78 rETH to 10.75 rETH	-1% from 512.00 rETH to 505.67 rETH	+1% from 2.10% to 2.13%
LBTC	-2% from 0.22 LBTC to 0.21 LBTC	-0% from 43.34 LBTC to 43.34 LBTC	-2% from 0.51% to 0.50%
VVV	-0% from 52.12 VVV to 52.03 VVV	-93% from 58.37K VVV to 4.29K VVV	+1260% from 0.09% to 1.21%
weETH	-0% from 0.17 weETH to 0.17 weETH	+0% from 57.16 weETH to 57.21 weETH	-0% from 0.30% to 0.30%
wrsETH	0% from 0.00 wrsETH to 0.00 wrsETH	0% from 27.67 wrsETH to 27.67 wrsETH	0% from 0.02% to 0.02%

Notable Trends

• VVV supply -93% (58.37K → 4.29K VVV)
• cbBTC supply -14% (81.50 → 70.16 cbBTC)
• USDC supply -3% (8.62M → 8.36M USDC)
• USDC borrows -3% (8.62M → 8.36M USDC)
• AERO supply -7% (5.38M → 5.01M AERO)
• WETH borrows -3% (1.56K → 1.51K WETH)

Liquidations

• Total liquidations: 86
• Total Collateral Seized (USD): $80,834.03
• Total Debt Repaid (USD): $73,485.48
• Total Liquidation Bonus (USD): $7,348.55
• Total Liquidator Bonus (USD): $5,143.98
• Total Protocol Bonus (USD): $2,204.56

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
AERO	86,051.700000	$62,649.40	$56,954.00	$5,695.40	$3,986.78	$1,708.62	1
USDC	17,015.635824	$17,014.06	$15,467.33	$1,546.73	$1,082.71	$464.02	68
EURC	662.448150	$757.45	$688.59	$68.86	$48.20	$20.66	4
cbBTC	0.004649	$390.40	$354.91	$35.49	$24.84	$10.65	1
cbETH	0.007137	$21.59	$19.62	$1.96	$1.37	$0.59	9
VVV	0.031245	$0.81	$0.74	$0.07	$0.05	$0.02	1
tBTC	0.000002	$0.17	$0.15	$0.02	$0.01	$0.00	1
USDS	0.165000	$0.16	$0.15	$0.01	$0.01	$0.00	1

OP Mainnet

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
cbETH	0.00	0.00	N/A	N/A	99.98%
DAI	0.00	0.00	N/A	N/A	99.88%
USDC	34.00M	36.40M	0.45%	0.50%	83.81%
USDT	18.40M	10.00M	0.21%	0.49%	80.89%
WETH	30.00K	32.00K	0.31%	0.44%	67.43%
USDT0	8.00M	10.00M	0.13%	0.26%	38.54%
OP	0.00	0.00	N/A	N/A	26.46%
rETH	0.00	0.00	N/A	N/A	15.79%
WBTC	0.00	0.00	N/A	N/A	13.38%
VELO	0.00	0.00	N/A	N/A	4.16%
weETH	0.00	0.00	N/A	N/A	2.96%
wstETH	0.00	5.00K	N/A	2.41%	1.77%
wrsETH	0.00	0.00	N/A	N/A	0.36%

Bad Debt & Reserves

Market	Gross exposure (USD)	Gross exposure (tokens)	Reserves (USD)	Reserves (tokens)
rETH	$6,442.00	2.045686	$4.38	0.0014
cbETH	$589.00	0.19228614	$28.30	0.0093
WETH	$98.00	0.03627734	$9.34	0.0035
VELO	$45.00	1467.39811305	$27.40	913.4131

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
cbETH	0% from 0.19 cbETH to 0.19 cbETH	0% from 0.19 cbETH to 0.19 cbETH	0% from 99.98% to 99.98%
DAI	+3% from 17.77K DAI to 18.25K DAI	+3% from 17.77K DAI to 18.28K DAI	-0% from 99.96% to 99.83%
USDC	+4% from 148.20K USDC to 154.25K USDC	-1% from 184.58K USDC to 182.16K USDC	+5% from 80.29% to 84.68%
USDT	+0% from 39.27K USDT to 39.31K USDT	-2% from 49.42K USDT to 48.58K USDT	+2% from 79.46% to 80.91%
WETH	-29% from 107.61 WETH to 76.73 WETH	-3% from 140.91 WETH to 136.88 WETH	-27% from 76.37% to 56.06%
USDT0	+0% from 10.08K USDT0 to 10.08K USDT0	-10% from 27.68K USDT0 to 25.01K USDT0	+11% from 36.42% to 40.32%
OP	-34% from 183.38K OP to 120.46K OP	-5% from 607.96K OP to 580.05K OP	-31% from 30.16% to 20.77%
rETH	+0% from 2.05 rETH to 2.05 rETH	-0% from 12.97 rETH to 12.96 rETH	+0% from 15.78% to 15.80%
WBTC	0% from 0.00 WBTC to 0.00 WBTC	0% from 0.00 WBTC to 0.00 WBTC	0% from 13.38% to 13.38%
VELO	-0% from 769.38K VELO to 769.32K VELO	-0% from 18.49M VELO to 18.49M VELO	-0% from 4.16% to 4.16%
weETH	-4% from 0.21 weETH to 0.21 weETH	-1% from 7.16 weETH to 7.07 weETH	-3% from 2.98% to 2.91%
wstETH	+0% from 2.11 wstETH to 2.11 wstETH	-23% from 133.39 wstETH to 102.30 wstETH	+30% from 1.58% to 2.06%
wrsETH	0% from 0.00 wrsETH to 0.00 wrsETH	0% from 1.06 wrsETH to 1.06 wrsETH	+0% from 0.36% to 0.36%

Notable Trends

• wstETH supply -23% (133.39 → 102.30 wstETH)
• WETH borrows -29% (107.61 → 76.73 WETH)
• WETH supply -3% (140.91 → 136.88 WETH)
• OP borrows -34% (183.38K → 120.46K OP)
• USDC borrows +4% (148.20K → 154.25K USDC)
• OP supply -5% (607.96K → 580.05K OP)

Liquidations

• Total liquidations: 6
• Total Collateral Seized (USD): $1,291.87
• Total Debt Repaid (USD): $1,174.43
• Total Liquidation Bonus (USD): $117.44
• Total Liquidator Bonus (USD): $82.21
• Total Protocol Bonus (USD): $35.23

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
OP	9,317.860000	$1,217.30	$1,106.64	$110.66	$77.46	$33.20	1
USDC	63.658854	$63.65	$57.87	$5.79	$4.05	$1.74	3
DAI	10.704100	$10.70	$9.73	$0.97	$0.68	$0.29	1
USDT0	0.210374	$0.21	$0.19	$0.02	$0.01	$0.01	1

Ethereum

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
USDC	180.00M	200.00M	0.07%	0.08%	83.19%
USDT	180.00M	200.00M	0.06%	0.06%	82.05%
WETH	20.00K	30.00K	1.93%	1.84%	69.96%
cbBTC	600.00	1.00K	0.38%	0.42%	55.41%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
USDC	-6% from 132.39K USDC to 124.21K USDC	-2% from 152.01K USDC to 149.07K USDC	-4% from 87.09% to 83.32%
USDT	-18% from 121.40K USDT to 99.14K USDT	-31% from 163.83K USDT to 113.64K USDT	+18% from 74.10% to 87.25%
WETH	+0% from 385.07 WETH to 385.22 WETH	-0% from 550.33 WETH to 549.68 WETH	+0% from 69.97% to 70.08%
cbBTC	+0% from 2.31 cbBTC to 2.31 cbBTC	-19% from 5.10 cbBTC to 4.16 cbBTC	+23% from 45.18% to 55.50%

Notable Trends

• cbBTC supply -19% (5.10 → 4.16 cbBTC)
• USDT supply -31% (163.83K → 113.64K USDT)
• USDT borrows -18% (121.40K → 99.14K USDT)
• USDC borrows -6% (132.39K → 124.21K USDC)
• USDC supply -2% (152.01K → 149.07K USDC)
• WETH supply 0% (550.33 → 549.68 WETH)

Liquidations

No liquidation events this week.

[AnthiasLabs]

Weekly Update (9/25/26 - 10/1/26)

Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, Ethereum and OP Mainnet. Data from 9/25/26 to 10/1/26, inclusive in UTC. More information can be found on our monitoring dashboard.

Base

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
MAMO	0.00	0.00	N/A	N/A	100.00%
cbETH	0.00	4.00K	N/A	17.21%	100.00%
USDC	0.00	200.00M	N/A	4.09%	100.00%
USDS	0.00	0.00	N/A	N/A	100.00%
EURC	0.00	21.90M	N/A	1.47%	99.97%
MORPHO	0.00	400.00K	N/A	31.95%	99.38%
VIRTUAL	0.00	4.50M	N/A	31.96%	87.19%
cbBTC	0.00	1.50K	N/A	4.70%	82.54%
WETH	0.00	96.00K	N/A	1.89%	81.30%
wstETH	0.00	14.40K	N/A	4.53%	71.39%
DAI	0.00	0.00	N/A	N/A	64.60%
cbXRP	0.00	5.00M	N/A	32.47%	47.85%
AERO	0.00	20.00M	N/A	19.07%	36.28%
WELL	0.00	0.00	N/A	N/A	12.89%
tBTC	0.00	0.00	N/A	N/A	12.51%
USDbC	0.00	1.00	N/A	800.10K%	11.16%
rETH	0.00	0.00	N/A	N/A	2.12%
VVV	0.00	170.00K	N/A	2.51%	1.22%
LBTC	0.00	95.00	N/A	45.62%	0.50%
weETH	0.00	5.40K	N/A	1.06%	0.30%
wrsETH	0.00	0.00	N/A	N/A	0.02%

Bad Debt & Reserves

Market	Gross exposure (USD)	Gross exposure (tokens)	Reserves (USD)	Reserves (tokens)
cbBTC	$4,671,153.48	54.42102323	$8,303.70	0.0966
USDC	$2,332,123.41	2332240.506612	$69,008.53	69008.5252
cbETH	$2,101,187.89	675.85294095	$11,245.96	3.6279
WETH	$2,036,255.18	747.18208704	$2,408.05	0.8862
wstETH	$1,351,446.64	398.5025969	$4,615.95	1.3651
cbXRP	$1,137,085.81	746287.357852	$1,392.45	918.5038
VIRTUAL	$1,002,937.82	1242677.68589936	$915.15	1139.6687
MORPHO	$281,817.19	107821.25369722	$3,355.23	1296.9579
EURC	$168,227.40	149465.064027	$10,523.21	9345.6593
AERO	$121,952.47	155058.06896564	$7,770.48	9836.0505
MAMO	$15,744.54	2077013.5201209	$15,252.60	1906574.6405
USDS	$935.09	935.10674152	$287.93	287.9339
WELL	$58.99	25424.58286583	$153.72	76857.8753
weETH	$10.93	0.00362994	$0.00	0
rETH	$7.67	0.00239775	$3.19	0.001
wrsETH	$3.99	0.00135258	$0.00	0
tBTC	$3.43	0.00003991	$17.20	0.0002
LBTC	$2.43	0.00002822	$8.64	0.0001
USDbC	$0.03	0.033641	$0.34	0.3439

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
MAMO	+0% from 3.47M MAMO to 3.47M MAMO	+0% from 3.47M MAMO to 3.47M MAMO	0% from 100.00% to 100.00%
cbETH	+0% from 688.36 cbETH to 688.49 cbETH	+0% from 688.36 cbETH to 688.49 cbETH	0% from 100.00% to 100.00%
USDC	-3% from 8.36M USDC to 8.11M USDC	-3% from 8.36M USDC to 8.11M USDC	0% from 100.00% to 100.00%
USDS	0% from 10.05K USDS to 10.05K USDS	0% from 10.05K USDS to 10.05K USDS	0% from 100.00% to 100.00%
EURC	-6% from 337.99K EURC to 319.15K EURC	-6% from 337.99K EURC to 319.15K EURC	0% from 100.00% to 100.00%
MORPHO	-8% from 136.72K MORPHO to 125.87K MORPHO	-10% from 140.46K MORPHO to 125.87K MORPHO	+3% from 97.33% to 100.00%
VIRTUAL	+0% from 1.25M VIRTUAL to 1.25M VIRTUAL	-1% from 1.45M VIRTUAL to 1.43M VIRTUAL	+1% from 86.64% to 87.66%
cbBTC	+0% from 58.06 cbBTC to 58.26 cbBTC	+0% from 70.16 cbBTC to 70.44 cbBTC	-0% from 82.74% to 82.70%
WETH	-3% from 1.51K WETH to 1.46K WETH	-1% from 1.83K WETH to 1.81K WETH	-2% from 82.60% to 80.65%
wstETH	+0% from 465.05 wstETH to 465.40 wstETH	-0% from 652.99 wstETH to 650.24 wstETH	+0% from 71.22% to 71.57%
DAI	+0% from 12.68K DAI to 12.74K DAI	+0% from 19.65K DAI to 19.69K DAI	+0% from 64.54% to 64.69%
cbXRP	+0% from 776.74K cbXRP to 776.88K cbXRP	-1% from 1.63M cbXRP to 1.61M cbXRP	+1% from 47.77% to 48.20%
AERO	-9% from 1.48M AERO to 1.34M AERO	-30% from 5.01M AERO to 3.50M AERO	+30% from 29.47% to 38.44%
WELL	-1% from 17.02M WELL to 16.92M WELL	-0% from 131.73M WELL to 131.60M WELL	-0% from 12.92% to 12.86%
tBTC	0% from 0.05 tBTC to 0.05 tBTC	-1% from 0.41 tBTC to 0.41 tBTC	+1% from 12.47% to 12.60%
USDbC	+0% from 892.54 USDbC to 892.62 USDbC	-0% from 8.00K USDbC to 8.00K USDbC	+0% from 11.15% to 11.16%
rETH	-13% from 10.75 rETH to 9.41 rETH	-3% from 505.67 rETH to 488.35 rETH	-9% from 2.13% to 1.93%
VVV	-0% from 52.03 VVV to 51.94 VVV	-1% from 4.29K VVV to 4.26K VVV	+0% from 1.21% to 1.22%
LBTC	0% from 0.21 LBTC to 0.21 LBTC	-0% from 43.34 LBTC to 43.34 LBTC	-0% from 0.50% to 0.50%
weETH	0% from 0.17 weETH to 0.17 weETH	-0% from 57.21 weETH to 57.20 weETH	+0% from 0.30% to 0.30%
wrsETH	0% from 0.00 wrsETH to 0.00 wrsETH	-32% from 27.67 wrsETH to 18.75 wrsETH	+48% from 0.02% to 0.02%

Notable Trends

• AERO supply -30% (5.01M → 3.50M AERO)
• USDC borrows -3% (8.36M → 8.11M USDC)

Liquidations

• Total liquidations: 78
• Total Collateral Seized (USD): $9,339.77
• Total Debt Repaid (USD): $8,490.70
• Total Liquidation Bonus (USD): $849.07
• Total Liquidator Bonus (USD): $594.35
• Total Protocol Bonus (USD): $254.72

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
EURC	2,216.436908	$2,526.38	$2,296.71	$229.67	$160.77	$68.90	4
cbXRP	1,644.580000	$2,473.85	$2,248.95	$224.90	$157.43	$67.47	1
USDC	2,369.873500	$2,369.75	$2,154.32	$215.43	$150.80	$64.63	27
AERO	1,218.122078	$1,066.96	$969.97	$97.00	$67.90	$29.10	15
WETH	0.300790	$808.75	$735.22	$73.52	$51.47	$22.06	11
cbETH	0.011960	$36.70	$33.36	$3.34	$2.34	$1.00	9
cbBTC	0.000324	$27.12	$24.66	$2.47	$1.73	$0.74	2
WELL	4,860.845000	$10.69	$9.72	$0.97	$0.68	$0.29	4
VIRTUAL	12.330430	$9.66	$8.78	$0.88	$0.61	$0.26	3
wstETH	0.002697	$9.11	$8.28	$0.83	$0.58	$0.25	1
MORPHO	0.313604	$0.81	$0.73	$0.07	$0.05	$0.02	1

OP Mainnet

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
cbETH	0.00	0.00	N/A	N/A	99.98%
DAI	0.00	0.00	N/A	N/A	99.89%
USDC	34.00M	36.40M	0.52%	0.58%	82.84%
USDT	18.40M	10.00M	0.08%	0.25%	61.17%
WETH	30.00K	32.00K	0.27%	0.43%	59.38%
USDT0	8.00M	10.00M	0.13%	0.25%	40.41%
OP	0.00	0.00	N/A	N/A	20.42%
rETH	0.00	0.00	N/A	N/A	15.80%
WBTC	0.00	0.00	N/A	N/A	13.38%
VELO	0.00	0.00	N/A	N/A	4.32%
weETH	0.00	0.00	N/A	N/A	2.91%
wstETH	0.00	5.00K	N/A	2.14%	1.98%
wrsETH	0.00	0.00	N/A	N/A	0.36%

Bad Debt & Reserves

Market	Gross exposure (USD)	Gross exposure (tokens)	Reserves (USD)	Reserves (tokens)
rETH	$6,546.00	2.0457599	$4.78	0.0015
cbETH	$598.00	0.19228614	$28.83	0.0093
WETH	$99.00	0.03628349	$13.86	0.0051
VELO	$50.00	1468.32155898	$47.25	1389.7288

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
cbETH	0% from 0.19 cbETH to 0.19 cbETH	0% from 0.19 cbETH to 0.19 cbETH	0% from 99.98% to 99.98%
DAI	+1% from 18.25K DAI to 18.42K DAI	+1% from 18.28K DAI to 18.44K DAI	+0% from 99.83% to 99.89%
USDC	+18% from 154.25K USDC to 182.13K USDC	+14% from 182.16K USDC to 206.82K USDC	+4% from 84.68% to 88.06%
USDT	-65% from 39.31K USDT to 13.78K USDT	-53% from 48.58K USDT to 22.83K USDT	-25% from 80.91% to 60.37%
WETH	+25% from 76.73 WETH to 95.65 WETH	-0% from 136.88 WETH to 136.43 WETH	+25% from 56.06% to 70.11%
USDT0	+0% from 10.08K USDT0 to 10.09K USDT0	-0% from 25.01K USDT0 to 24.93K USDT0	+0% from 40.32% to 40.47%
OP	-7% from 120.46K OP to 112.07K OP	-3% from 580.05K OP to 559.97K OP	-4% from 20.77% to 20.01%
rETH	+0% from 2.05 rETH to 2.05 rETH	0% from 12.96 rETH to 12.96 rETH	+0% from 15.80% to 15.80%
WBTC	0% from 0.00 WBTC to 0.00 WBTC	0% from 0.00 WBTC to 0.00 WBTC	0% from 13.38% to 13.38%
VELO	-1% from 769.32K VELO to 759.92K VELO	-7% from 18.49M VELO to 17.23M VELO	+6% from 4.16% to 4.41%
weETH	0% from 0.21 weETH to 0.21 weETH	-0% from 7.07 weETH to 7.07 weETH	+0% from 2.91% to 2.91%
wstETH	0% from 2.11 wstETH to 2.11 wstETH	+20% from 102.30 wstETH to 122.69 wstETH	-17% from 2.06% to 1.72%
wrsETH	0% from 0.00 wrsETH to 0.00 wrsETH	-1% from 1.06 wrsETH to 1.05 wrsETH	+1% from 0.36% to 0.36%

Notable Trends

• wstETH supply +20% (102.30 → 122.69 wstETH)
• WETH borrows +25% (76.73 → 95.65 WETH)
• USDC borrows +18% (154.25K → 182.13K USDC)
• USDT supply -53% (48.58K → 22.83K USDT)
• USDT borrows -65% (39.31K → 13.78K USDT)

Liquidations

• Total liquidations: 4
• Total Collateral Seized (USD): $35.55
• Total Debt Repaid (USD): $32.32
• Total Liquidation Bonus (USD): $3.23
• Total Liquidator Bonus (USD): $2.26
• Total Protocol Bonus (USD): $0.97

Asset	Total Seized (Tokens)	Total Seized (USD)	Debt Repaid (USD)	Liquidation Bonus (USD)	Liquidator Bonus (USD)	Protocol Bonus (USD)	Liquidation Count
WETH	0.009237	$24.75	$22.50	$2.25	$1.57	$0.67	1
DAI	10.814240	$10.81	$9.83	$0.98	$0.69	$0.29	3

Ethereum

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
USDT	180.00M	200.00M	0.06%	0.06%	86.28%
USDC	180.00M	200.00M	0.07%	0.07%	84.26%
WETH	20.00K	30.00K	1.93%	1.83%	70.05%
cbBTC	600.00	1.00K	0.38%	0.54%	46.07%

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
USDT	+0% from 99.14K USDT to 99.28K USDT	+1% from 113.64K USDT to 115.29K USDT	-1% from 87.25% to 86.11%
USDC	+1% from 124.21K USDC to 125.44K USDC	-1% from 149.07K USDC to 148.11K USDC	+2% from 83.32% to 84.69%
WETH	+0% from 385.22 WETH to 385.32 WETH	+0% from 549.68 WETH to 550.37 WETH	-0% from 70.08% to 70.01%
cbBTC	+0% from 2.31 cbBTC to 2.31 cbBTC	+0% from 4.16 cbBTC to 4.16 cbBTC	-0% from 55.50% to 55.47%

Liquidations

No liquidation events this week.

[AnthiasLabs]

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

Anthias Labs would like to provide an update on market performance over the past week for Core markets on Base, Ethereum and OP Mainnet. Data from 10/2/26 to 10/8/26. More information can be found on our monitoring dashboard.

Base

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
MAMO	0.00	0.00	N/A	N/A	100.00%
USDC	0.00	200.00M	N/A	4.05%	100.00%
cbETH	0.00	4.00K	N/A	17.21%	100.00%
EURC	0.00	21.90M	N/A	1.45%	100.00%
USDS	0.00	0.00	N/A	N/A	100.00%
MORPHO	0.00	400.00K	N/A	31.52%	99.92%
VIRTUAL	0.00	4.50M	N/A	31.74%	87.83%
cbBTC	0.00	1.50K	N/A	4.70%	82.84%
WETH	0.00	96.00K	N/A	1.87%	79.99%
wstETH	0.00	14.40K	N/A	4.52%	71.60%
DAI	0.00	0.00	N/A	N/A	64.71%
cbXRP	0.00	5.00M	N/A	31.95%	48.64%
AERO	0.00	20.00M	N/A	17.32%	38.82%
tBTC	0.00	0.00	N/A	N/A	13.17%
WELL	0.00	0.00	N/A	N/A	12.85%
USDbC	0.00	1.00	N/A	799.71K%	11.16%
rETH	0.00	0.00	N/A	N/A	1.92%
VVV	0.00	170.00K	N/A	2.51%	1.21%
LBTC	0.00	95.00	N/A	45.62%	0.50%
weETH	0.00	5.40K	N/A	1.06%	0.30%
wrsETH	0.00	0.00	N/A	N/A	0.02%

Bad Debt & Reserves

Market	Gross exposure (USD)	Gross exposure (tokens)	Reserves (USD)	Reserves (tokens)
cbBTC	$4,486,046.69	54.62289118	$9,608.49	0.1177
USDC	$2,338,896.41	2339334.116267	$71,444.31	71444.3062
cbETH	$1,919,158.99	675.99426016	$10,676.32	3.7863
WETH	$1,859,033.22	747.33677768	$2,275.21	0.9209
wstETH	$1,235,911.82	398.84789686	$4,381.34	1.4236
cbXRP	$1,038,711.73	746431.86265	$1,466.73	1060.5393
VIRTUAL	$883,903.47	1242916.34466385	$979.85	1378.1285
MORPHO	$259,325.61	108396.47266928	$3,617.62	1531.5917
EURC	$168,108.57	149994.350153	$10,604.98	9460.2887
AERO	$131,046.85	155318.98637209	$8,849.38	10636.2713
MAMO	$16,099.02	2077636.68213356	$15,260.84	1907605.3317
USDS	$938.28	938.47762857	$323.95	323.952
WELL	$56.84	25441.64202849	$159.39	79693.2417
weETH	$9.98	0.00362996	$0.00	0
rETH	$7.00	0.00239778	$3.19	0.0011
wrsETH	$3.63	0.00135258	$0.00	0
tBTC	$3.27	0.00003991	$16.33	0.0002
LBTC	$2.33	0.00002822	$8.20	0.0001
USDbC	$0.03	0.033643	$0.40	0.4026

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
MAMO	+0% from 3.47M MAMO to 3.47M MAMO	+0% from 3.47M MAMO to 3.47M MAMO	0% from 100.00% to 100.00%
USDC	-1% from 8.11M USDC to 8.04M USDC	-1% from 8.11M USDC to 8.04M USDC	0% from 100.00% to 100.00%
cbETH	+0% from 688.49 cbETH to 688.52 cbETH	+0% from 688.49 cbETH to 688.52 cbETH	-0% from 100.00% to 100.00%
EURC	-0% from 319.15K EURC to 318.19K EURC	-0% from 319.15K EURC to 318.19K EURC	0% from 100.00% to 100.00%
USDS	-4% from 10.05K USDS to 9.60K USDS	-4% from 10.05K USDS to 9.60K USDS	-0% from 100.00% to 100.00%
MORPHO	-1% from 125.87K MORPHO to 124.45K MORPHO	-1% from 125.87K MORPHO to 124.45K MORPHO	-0% from 100.00% to 100.00%
VIRTUAL	+0% from 1.25M VIRTUAL to 1.25M VIRTUAL	-0% from 1.43M VIRTUAL to 1.43M VIRTUAL	+0% from 87.66% to 87.89%
cbBTC	+0% from 58.26 cbBTC to 58.45 cbBTC	+1% from 70.44 cbBTC to 70.93 cbBTC	-0% from 82.70% to 82.41%
WETH	-2% from 1.46K WETH to 1.43K WETH	-2% from 1.81K WETH to 1.77K WETH	+0% from 80.65% to 80.81%
wstETH	+0% from 465.40 wstETH to 465.73 wstETH	+0% from 650.24 wstETH to 650.41 wstETH	+0% from 71.57% to 71.61%
DAI	+0% from 12.74K DAI to 12.75K DAI	+0% from 19.69K DAI to 19.70K DAI	+0% from 64.69% to 64.72%
cbXRP	+0% from 776.88K cbXRP to 777.04K cbXRP	-1% from 1.61M cbXRP to 1.59M cbXRP	+1% from 48.20% to 48.87%
AERO	+0% from 1.34M AERO to 1.35M AERO	-2% from 3.50M AERO to 3.42M AERO	+2% from 38.44% to 39.39%
tBTC	0% from 0.05 tBTC to 0.05 tBTC	-27% from 0.41 tBTC to 0.30 tBTC	+37% from 12.60% to 17.26%
WELL	-0% from 16.92M WELL to 16.90M WELL	-0% from 131.60M WELL to 131.33M WELL	+0% from 12.86% to 12.87%
USDbC	+0% from 892.62 USDbC to 892.67 USDbC	-0% from 8.00K USDbC to 7.99K USDbC	+0% from 11.16% to 11.17%
rETH	-0% from 9.41 rETH to 9.39 rETH	-0% from 488.35 rETH to 488.25 rETH	-0% from 1.93% to 1.92%
VVV	-0% from 51.94 VVV to 51.72 VVV	+0% from 4.26K VVV to 4.26K VVV	-0% from 1.22% to 1.21%
LBTC	-0% from 0.21 LBTC to 0.21 LBTC	+0% from 43.34 LBTC to 43.34 LBTC	-0% from 0.50% to 0.50%
weETH	0% from 0.17 weETH to 0.17 weETH	-0% from 57.20 weETH to 57.20 weETH	+0% from 0.30% to 0.30%
wrsETH	0% from 0.00 wrsETH to 0.00 wrsETH	0% from 18.75 wrsETH to 18.75 wrsETH	0% from 0.02% to 0.02%

Notable Trends

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

Liquidations

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

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

OP Mainnet

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
cbETH	0.00	0.00	N/A	N/A	99.98%
DAI	0.00	0.00	N/A	N/A	91.53%
USDC	34.00M	36.40M	0.45%	0.50%	85.23%
USDT	18.40M	10.00M	0.07%	0.23%	60.54%
WETH	30.00K	32.00K	0.23%	0.42%	51.79%
USDT0	8.00M	10.00M	0.13%	0.25%	40.52%
OP	0.00	0.00	N/A	N/A	20.05%
rETH	0.00	0.00	N/A	N/A	15.81%
WBTC	0.00	0.00	N/A	N/A	13.40%
VELO	0.00	0.00	N/A	N/A	4.46%
weETH	0.00	0.00	N/A	N/A	2.91%
wstETH	0.00	5.00K	N/A	1.92%	2.66%
wrsETH	0.00	0.00	N/A	N/A	0.36%

Bad Debt & Reserves

Market	Gross exposure (USD)	Gross exposure (tokens)	Reserves (USD)	Reserves (tokens)
rETH	$5,972.00	2.04639668	$8.42	0.0029
cbETH	$546.00	0.19228614	$26.25	0.0093
WETH	$90.00	0.03628813	$15.83	0.0064
VELO	$54.00	1468.99506138	$62.14	1726.0356

Week-over-Week Changes

Asset	Total Borrow	Total Supply	Utilization
cbETH	0% from 0.19 cbETH to 0.19 cbETH	0% from 0.19 cbETH to 0.19 cbETH	0% from 99.98% to 99.98%
DAI	-33% from 18.42K DAI to 12.33K DAI	-4% from 18.44K DAI to 17.64K DAI	-30% from 99.89% to 69.90%
USDC	-18% from 182.13K USDC to 150.11K USDC	-20% from 206.82K USDC to 165.04K USDC	+3% from 88.06% to 90.95%
USDT	+0% from 13.78K USDT to 13.79K USDT	-0% from 22.83K USDT to 22.74K USDT	+0% from 60.37% to 60.65%
WETH	-85% from 95.65 WETH to 14.54 WETH	-4% from 136.43 WETH to 130.87 WETH	-84% from 70.11% to 11.11%
USDT0	+0% from 10.09K USDT0 to 10.10K USDT0	-0% from 24.93K USDT0 to 24.88K USDT0	+0% from 40.47% to 40.58%
OP	+0% from 112.07K OP to 112.16K OP	-0% from 559.97K OP to 557.92K OP	+0% from 20.01% to 20.10%
rETH	+0% from 2.05 rETH to 2.05 rETH	-0% from 12.96 rETH to 12.93 rETH	+0% from 15.80% to 15.84%
WBTC	0% from 0.00 WBTC to 0.00 WBTC	0% from 0.00 WBTC to 0.00 WBTC	+0% from 13.38% to 13.41%
VELO	-9% from 759.92K VELO to 689.96K VELO	-6% from 17.23M VELO to 16.22M VELO	-4% from 4.41% to 4.25%
weETH	0% from 0.21 weETH to 0.21 weETH	0% from 7.07 weETH to 7.07 weETH	0% from 2.91% to 2.91%
wstETH	+0% from 2.11 wstETH to 2.11 wstETH	-67% from 122.69 wstETH to 39.89 wstETH	+208% from 1.72% to 5.29%
wrsETH	0% from 0.00 wrsETH to 0.00 wrsETH	-0% from 1.05 wrsETH to 1.05 wrsETH	+0% from 0.36% to 0.36%

Notable Trends

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

Liquidations

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

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

Ethereum

Asset	Current Borrow Cap	Current Supply Cap	Average Borrow Cap Usage (Past Week)	Average Supply Cap Usage (Past Week)	Average Utilization
USDT	180.00M	200.00M	0.06%	0.06%	84.86%
USDC	180.00M	200.00M	0.07%	0.08%	84.76%
WETH	20.00K	30.00K	1.93%	1.84%	69.90%
cbBTC	600.00	1.00K	0.39%	0.43%	54.10%

Week-over-Week Changes

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

Notable Trends

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