Sumcap

On the RedotPay side of the matchup: October was its biggest month yet, $423.5M of onchain card spend, up 45% from $292.0M a year earlier.

The weekly record rolls into a monthly one: EtherFi's card closed October at $141.9M of onchain spend, 10% above September's $128.8M and 2.6x January.

The lenders did come back: USDC in Morpho's cbBTC/USDC market on Base fell $95M by 04:00 UTC on 30 Oct, $82M has returned since, and the borrow rate is down to 6.6% from 13.8%.

Since your 28 Oct cut another $3.1B has left, and total supply is $298.5B, its lowest since August and $5.2B below 1 Jan.

After the Binance hack, lenders pulled $470M from Morpho's stablecoin markets in 11 hours, and half the supply sat in markets 95%+ borrowed, up from 0.1%.

The spending side is setting records too: @ether_fi's card did $137.5M of onchain spend in October through the 30th, already past September's record of $128.8M.

Sentora's RLUSD Main vault on @Morpho already had its stress test: 50.1M RLUSD, 11% of the vault, went out in the six hours after the Binance hack, and it's back at 407.9M.

On withdrawal liquidity: about $616M of the $5.85B supplied to Morpho's stablecoin markets sits unborrowed today. The Binance hack cut that buffer to $444M within 8 hours.

After the Binance hack, USDC lenders pulled $95M from Morpho's cbBTC/USDC market on Base, utilisation hit 95% and the borrow rate peaked at 13.8% at 04:00 UTC. It's back to 6.8%.

USDC is the biggest piece by far: $6.8B on Solana today, more than USDT, USD1 and USDGO combined.

Usage keeps climbing too: @Plasma One's card did $26.9M of onchain spend through 28 Oct, already past its September record of $25.6M with three days left.

Supply is moving with it: RLUSD is at $2.60B today, about 2.9x a year ago, with $1.63B of it on Ethereum and $978M on the XRP Ledger.

The card side is growing too: @EthenaPay did $2.8M of onchain card spend in the last 30 days, nearly double the 30 days before, across 38.6K payments.

In dollar terms that 1.7% comes from USDT and USDC: together they shed $6.3B in 30 days, more than the $5.2B net drop, while every other dollar stablecoin added $1.1B combined.