Aave's Ethereum Core market has reached a critical point with WETH utilization hitting 100%, indicating all deposited WETH has been borrowed. Additionally, utilization rates for USDT, USDC, and Plasma's USDT0 are nearing their limits. The recent Kelp DAO hack has exacerbated the situation, leading to Aave experiencing its third-largest single-day net outflow in history, with over $5 billion exiting the Ethereum mainnet alone. This has resulted in a temporary tightening of DeFi liquidity.
Aave Faces Liquidity Strain as WETH Utilization Hits 100%
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