Solana ecosystem stablecoin lending rate and utilization soar, with Jupiter Lend USDC utilization reaching 99%

BlockBeats News, April 20th: Following the KelpDAO rsETH hack, a cascading effect emerged in the entire DeFi ecosystem. The stablecoin borrowing rates and utilization rates of multiple lending protocols in the Solana ecosystem saw an increase, including:

At Jupiter Lend, the USDC supply is $4.21 billion, with a borrowing amount of $3.4 billion. Excluding protocol reserve liquidity, the utilization rate surged to around 99%, with almost all available liquidity borrowed out. The borrowing rate is currently at 4.36%.

On Kamino Prime Market, the total USDC supply is approximately $1.868 billion, with around $1.788 billion borrowed, resulting in a utilization rate of close to 96% and a borrowing rate of 8.92%;

On Kamino Main Market, the total USDC supply is about $1.72 billion, with around $1.64 billion borrowed, a utilization rate of approximately 95.75%, and a borrowing rate of 10.2%.

Save Finance (formerly Solend) saw its borrowing utilization rate rise to over 70%, with a borrowing rate of 3.9%.

At Marginfi, the USDC borrowing utilization rate increased to 88.32%, with a borrowing rate of 7.65%.