ETH Lending Utilization Falls Below 90%, APY Drops to 1.9% Following rsETH Bridge Exploit

ETH-3.08%
ZRO-2.15%
WEETH-2.48%

According to ChainCatcher, citing on-chain analyst Tom Wan, ETH utilization has fallen below 90% and lending APY has declined to 1.9% following the rsETH LayerZero bridge exploit. Deposits in wstETH and weETH have decreased by approximately 1.2 billion and 1.76 billion dollars respectively since the attack, signaling reduced demand for ETH leveraged strategies amid heightened risk concerns.

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