Bitcoin Borrowing Surges 87% on Moonwell's Ethereum Markets
Bitcoin Borrowing Surges 87% on Moonwell's Ethereum Markets
🚀 Bitcoin borrows explode
Bitcoin activity accelerates across Moonwell protocol
Coinbase's cbBTC saw significant growth this week:
- Borrowing jumped 87% on Ethereum
- Base network borrowing increased 13%
- Ethereum deposits climbed 23%
This follows a broader trend of increased borrowing activity across Moonwell's markets. Last week, USDT and USDC borrows on Ethereum rose 236% and 148% respectively, while VELO borrows on OP Mainnet climbed 206% to nearly 6M VELO.
The growth comes after Moonwell introduced enhanced borrowing rewards, allowing users to earn WELL tokens when borrowing USDC, USDT, ETH, or cbBTC across all Ethereum markets.
Moonwell on Ethereum, now tracked by @tokenterminal. Fees, revenue, total deposits, and active users, alongside coverage for our @Base and @Optimism Mainnet markets.
Bitcoin activity picked up across Moonwell this week. Borrowing of @Coinbase's cbBTC increased 87% on Ethereum and 13% on Base, while deposits on Ethereum grew 23%. Here’s the latest Moonwell Market Watch from @anthiasxyz ↓
Moonwell Score, a new onchain credit reporting system.
Can an agent build a credit history onchain? 🤖 Moonwell Score is a new onchain credit scoring system, powered by publicly observable activity on Moonwell. See how an address borrows, repays, uses liquidity, and manages risk, all summarized in a live score from 300–850.
All key metrics for Moonwell on Ethereum. Now tracked by @tokenterminal.
Moonwell on Ethereum, now tracked by @tokenterminal. Fees, revenue, total deposits, and active users, alongside coverage for our @Base and @Optimism Mainnet markets.
Last month, Moonwell went live on Ethereum. Could Robinhood Chain (@RobinhoodCrypto) be where we go next? Join the conversation on the forum below ↓
Robinhood Chain mainnet is live. Fast, secure, AI-native, and purpose-built for real-world assets from day one. x.com/i/broadcasts/1…
WELL rewards have arrived on Ethereum. Now live across USDC, USDT, ETH, and cbBTC markets. Supply to start earning today.
This week, @AerodromeFi AERO deposits on @Base rose 29%, while ETH borrows climbed 9%. On @Ethereum, USDC supply also began picking up as Moonwell’s newest deployment starts to grow. Moonwell Market Watch, from @anthiasxyz.
Just the beginning. Rewards are now live across all markets on Ethereum. Supply to earn on your USDC, USDT, ETH or @Coinbase Bitcoin.
Highlights from last week: → Moonwell Score: new credit report system → Moonwell 🤝 @Base MCP → Incentives live on Ethereum → Moonwell Vaults & conservative risk profiles → @Mamo uses #1 Moonwell ETH Vault → Market Watch (@anthiasxyz) → Moonwell Card, what's next?
Borrowing picked up across Moonwell last week. USDT and USDC borrows on @Ethereum rose 236% and 148%, while @VelodromeFi VELO borrows on OP Mainnet climbed 206% to nearly 6M VELO. Moonwell Market Watch, brought to you by @anthiasxyz ↓
Moonwell on Ethereum is off to a strong start. Nearly $3M has been supplied since Moonwell went live in June, with WELL supply-side incentives available across all markets. USDC, USDT, ETH, and cbBTC are now available to lend and borrow.
This week’s Moonwell Market Watch: Supply in the USDC, ETH, USDT, and cbBTC markets on Ethereum rose as WELL liquidity incentives went live to help foster adoption. On Base, @LidoFinance wstETH supply climbed 27%.
Liquidity incentives on Ethereum, anyone? A new proposal is live to add WELL incentives to the ETH, cbBTC, USDC, and USDT Core Markets on @Ethereum. If successful, it would help bootstrap liquidity on the network.
MIP-X59 has been submitted for onchain voting. This proposal seeks to rebalance liquidity incentives on @ethereum and @Base. 🗳️ Vote: moonwell.fi/governance/pro…
Supply-side incentives are live across all markets on Ethereum. Incentivized markets: USDC, USDT, ETH, and @Coinbase Bitcoin (cbBTC) Explore: moonwell.fi/markets/ethere…
Incentives are now live on Ethereum. Supply USDC, USDT, ETH, or cbBTC to earn WELL rewards, plus interest from borrowers. Moonwell 🤝 Ethereum.
Another strong week of growth across all markets on Ethereum. Supply rose 72% for USDC, 93% for ETH, and 112% for cbBTC. See the latest Moonwell Market Watch by @anthiasxyz ↓
More assets are being put to work across Moonwell. This week, supply increased across key Base and Ethereum markets, led by @AskVenice VVV and @Coinbase cbBTC. Moonwell Market Watch, from @anthiasxyz ↓
Activity picked up across Moonwell this week. Borrowing for @Coinbase Bitcoin (cbBTC) and @VelodromeFi VELO increased by 74% on @Base and 219% on OP Mainnet, respectively. Moonwell Market Watch, by @anthiasxyz ↓
Incentives are now live on Ethereum. Supply USDC, USDT, ETH, or cbBTC to earn WELL rewards, plus interest from borrowers. Moonwell 🤝 Ethereum.
Over $3.5M has been supplied to Moonwell on Ethereum in just a few weeks since launch. @LukeYoungblood asks the community which markets should come next, including @LidoFinance staked ETH. He also shares thoughts on where Moonwell could expand next ↓
Borrowing just got more rewarding ✨ Borrow USDC, USDT, ETH, or cbBTC to earn WELL. Now live across all markets on Ethereum.
A new proposal went live to add WELL incentives to the ETH, cbBTC, USDC, and USDT Core Markets on @Ethereum.
MIP-X59 has been submitted for onchain voting. This proposal seeks to rebalance liquidity incentives on @ethereum and @Base. 🗳️ Vote: moonwell.fi/governance/pro…
⏰ Final Days to Transfer WELL Tokens from Moonbeam
**Urgent deadline approaching:** WELL token holders on Moonbeam have until **July 31** to transfer their assets before the network sunsets on Polkadot. **Key actions required:** - Transfer WELL tokens to Base, OP Mainnet, or Ethereum Mainnet - Transfers are 1:1 and complete in minutes - The 7-day staking cooldown has been removed for immediate redemption - Over 25M WELL remains staked on Moonbeam **Important notes:** - Tokens left on Moonbeam after July 31 may become permanently inaccessible - This affects only Moonbeam deployment; Base, OP Mainnet, and Ethereum markets remain unaffected [Transfer your WELL now](http://moonwell.fi/transfer)
BingX Joins Major Exchanges Supporting WELL Migration to Base
BingX has become the latest exchange to announce support for WELL's migration from Moonbeam Network to Base. **Key Details:** - WELL tokens held on BingX will be automatically migrated through the exchange's token swap process - Users should review the [official announcement](https://bingx.com/en/support/articles/16947526279439) for specific timing and requirements **Growing Exchange Support:** BingX joins several other major exchanges that recently announced WELL migration support: - HTX - CoinEx - Gate - KuCoin This coordinated exchange support indicates a significant infrastructure shift for the WELL token ecosystem as it transitions to Base.
Moonwell Launches Borrower Rewards Program on Ethereum
Moonwell has expanded its rewards program to include borrowers on Ethereum. Users can now earn WELL tokens by borrowing USDC, USDT, ETH, or cbBTC across all Ethereum markets. This follows the June launch of supply-side incentives, where lenders earned WELL rewards plus borrower interest. The platform now rewards both sides of the lending equation. **Key Details:** - Borrowing rewards live across all Ethereum markets - Supported assets: USDC, USDT, ETH, cbBTC - Complements existing supply rewards program The dual incentive structure aims to boost liquidity and participation on both lending and borrowing sides of the protocol.
🤔 Moonwell Eyes Robinhood Chain for Next Expansion
Following its recent Ethereum launch, **Moonwell is considering Robinhood Chain as its next deployment destination**. The community is being invited to discuss this potential expansion on the project's forum. This comes after Moonwell successfully went live on Ethereum last month, marking a significant milestone in the protocol's multi-chain strategy. - Community members can share their thoughts on the forum - Decision follows recent Ethereum integration - Robinhood Chain represents potential new market opportunity The move would extend Moonwell's lending protocol to Robinhood's blockchain infrastructure, potentially reaching a new user base.