CirBTC borrowing on Morpho hits $190 million as USDC liquidity runs thin

defi

CirBTC borrowing on Morpho has reached $190 million, while available USDC liquidity is running thin. The imbalance points to strong demand for CirBTC-backed borrowing and could make additional USDC borrowing harder or more expensive. The development highlights liquidity and concentration risks in Bitcoin-linked DeFi markets, though it does not by itself indicate stress in Bitcoin’s spot market.

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