Institutional borrowers have rapidly utilized 97.4% of the USDC lending pool on Morpho's main cirBTC/USDC market, jumping from 8.1% at launch three weeks ago. Circle's Bitcoin-backed token cirBTC allows institutions to borrow USDC by posting Bitcoin as collateral, driving strong demand for USDC liquidity. While over $304 million in cirBTC backs these loans, the limiting factor is the available USDC, with only about $5 million left unborrowed. This high utilization highlights robust institutional interest in borrowing against Bitcoin without selling it, but also signals potential liquidity constraints for future borrowers if demand continues to rise.
CirBTC borrowing on Morpho has surged to $190 million, with USDC lending pool utilization reaching 97.4%, leaving only about $5 million in USDC liquidity available. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Oct 14, 2026 01:03 WIB: out of 50 major cryptocurrencies, 13 rose and 36 fell. Notable movers include ALGO at Rp2.137 with a 4.43% decline, DOT at Rp20.771 down 4.31%, and THETA at Rp3.688 down 4.21%.
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