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.