CoinsAQ summary · neutral
CirBTC borrowing on Morpho hits $190 million as USDC liquidity runs thin
What happened
Circle's Bitcoin-backed token has pushed utilization in its main Morpho market to 97.4%, up from 8.1% at launch Institutions apparently wanted to borrow against their Bitcoin without selling it. They wanted it badly enough to drain nearly every spare dollar from the pool built.
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