24h Change-5.29%
All Time HighAug 24, 2025$4,946
All Time LowOct 20, 2015$0.43
Market Cap$227.38b
Fully Diluted Valuation$227.38b
Circ. Supply120.69m ETH
CEX Volume$11.964b
DEX Volume$8.524b
ICO · Jul 12, 2014$18.4m
How much debt can be issued against ETH as collateral across lending protocols.
Maximum possible exposure to ETH
$4.639b
$2.146b (max additional borrows against ETH) + $2.493b (bad debt if ETH was hacked now)
Aave V3
$2.848b at-risk exposure = $1.5b bad debt if hacked + $1.348b additional borrowable against ETH
Sky Lending
$774.1m at-risk exposure = $513.05m bad debt if hacked + $261.05m additional borrowable against ETH
SparkLend
$412.94m at-risk exposure = $186.9m bad debt if hacked + $226.04m additional borrowable against ETH
Compound V3
$203.56m at-risk exposure = $77.92m bad debt if hacked + $125.64m additional borrowable against ETH
Venus Core Pool
$81.96m at-risk exposure = $3.64m bad debt if hacked + $78.32m additional borrowable against ETH
Fluid
$174.95m at-risk exposure = $109.42m bad debt if hacked + $65.53m additional borrowable against ETH
Tydro
$20.02m at-risk exposure = -- bad debt if hacked + $20.02m additional borrowable against ETH
Morpho V1
$91.17m at-risk exposure = $79.46m bad debt if hacked + $11.71m additional borrowable against ETH
Euler V2
$6.99m at-risk exposure = $289,414 bad debt if hacked + $6.7m additional borrowable against ETH
Venus Flux
$2.01m at-risk exposure = $32,575 bad debt if hacked + $1.97m additional borrowable against ETH
Neverland
$1.25m at-risk exposure = -- bad debt if hacked + $1.25m additional borrowable against ETH
Lista Lending
$914,688 at-risk exposure = $729,918 bad debt if hacked + $184,770 additional borrowable against ETH
Maple
$21.31m at-risk exposure = $21.31m bad debt if hacked + $0 additional borrowable against ETH
Showing collateral exposure for ETH on onchain. Max Borrowable uses the backend's liquidity-bounded borrow-capacity metric (`collateralMaxBorrowUsdLiquidity`) for the maximum additional USD debt that can be issued against the asset right now. Bad Debt at $0 is the minimum known bad debt if the collateral asset price goes to zero; null rows are excluded from this total rather than treated as zero, so totals may remain lower bounds.
Each row is one protocol-chain exposure for ETH as collateral. Bad debt at $0 totals remain lower bounds when a row is marked partial.
Protocol | Chain | |||
|---|---|---|---|---|
ETH0x0000000000000000000000000000000000000000 | $1.116b | $1.432b | ||
ETH0x0000000000000000000000000000000000000000 | $261.05m | $513.05m | ||
ETH0x0000000000000000000000000000000000000000 | $226.04m | $186.9m | ||
ETH0x0000000000000000000000000000000000000000 | $109.49m | $73.71m | ||
WETH0x2170ed0880ac9a755fd29b2688956bd959f933f8 | $78.32m | $3.64m | ||
WETH0x4200000000000000000000000000000000000006 | $74.51m | — | ||
ETH0x0000000000000000000000000000000000000000 | $61.45m | $60.87m | ||
ETH0x0000000000000000000000000000000000000000 | $47.68m | — | ||
ETH0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee | $44.68m | $102.14m | ||
WETH0x7ceb23fd6bc0add59e62ac25578270cff1b9f619 | $25.88m | $7.08m |
Risk-management actions published about ETH by tracked risk managers and governance contributors, newest first.
The KelpDAO exploit caused a severe ETH liquidity crunch, pushing utilization near 100% and temporarily constraining withdrawals from the ETH Lite Vault. A rapid aWETH redemption mechanism processed $440M in exits, covering all losses via fees and ensuring full user fund safety, with liquidity replenishment planned soon.
cETH reserves from v2 deprecation are being pulled, along with WETH from Arbitrum v3 above VaR buffer, to support treasury allocation; volatile portion subject to conversion risk managed through time-weighted strategies.
ETH allocations in Drift vaults, such as ALT3 Capital's ETH Gain strategy, faced potential losses from the attacker's manipulation of market parameters and withdrawals following the multisig breach.
SparkLend ETH deposit rate limits are being increased to accommodate expansion in the spETH vault, shifting reliance from strict caps to offchain alerting for risk events like volatility or outflows.
ETH's market depth on Mantle has exceeded isolation thresholds, allowing removal from isolation mode to boost composability and borrowing flexibility.
The ETH savings rewards rate calculation is updating to base on pro-rata net revenue from the Spark Liquidity Layer, plus a governance-defined spread, to reflect improved capital allocation efficiency and support additional backing assets beyond SparkLend ETH.
ETH is included as a core large-cap asset for portfolio margining in Spark Prime, allowing cross-correlation offsets and better capital efficiency while maintaining transparency into borrowers' positions.
ETH, as Base's native token, offers high onchain liquidity via Uniswap and Aerodrome, comparable to mainnet levels against USDC, with native deposits/withdrawals on exchanges like Coinbase. The 86% LLTV aligns with successful Morpho pools and SparkLend updates, using a reliable Chainlink ETHUSD oracle.
The vault allocates to ETH-backed Morpho markets selected for their liquidity depth, collateral reliability, and stable borrowing demand, with automated rebalancing to maintain target utilization and ensure withdrawal capacity under stress.
ETH-backed markets, including ETH+ and wstETH, form the core of the vault's yield engine due to their liquidity depth, collateral reliability, and stable borrowing demand, with exposure capped and automated to maintain utilisation buffers.
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Showing 10 of 4732 pools
Pool | Project | Chain | 30d APY Chart | ||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabWETH-FOUNDER3.00% | $66,043 | 74596% | 74596% | 497% | |||||
| open in new tabETH-BRETT0.30% | $51,896 | 30471% | 30471% | 30471% | |||||
| open in new tabETH-BOTCOIN3.00% | $51,370 | 41936% | 41936% | 3107% | |||||
| open in new tabWETH-FRED1.00% | $51,273 | 22491% | 22491% | 8491% | |||||
| open in new tabETH-FLORK2.00% | $50,370 | 487629% | 487629% | 2109% | |||||
| open in new tabETH-DRB1.00% | $50,217 | 40312% | 40312% | 806% | |||||
| open in new tabWETH-TRAC | $49,195 | 74230% | 62641% | ||||||
| open in new tabWETH-W | $48,128 | 20069% | 21864% | ||||||
| open in new tabNEWSWORTHY-WETH1.20% | $47,258 | 28343% | 28343% | 227% | |||||
| open in new tabWETH-DEADPool on Uniswap V3 | 🪂 | $20,868 | 100000% | 100000% | 100000% |
Showing 10 of 53600 routes
Pool | Project | Chain | |||||||
|---|---|---|---|---|---|---|---|---|---|
| open in new tabWETH ➞ MORPHO | $10.64m | 44.12% | 3.11% | 82.5% | $33,997 | $31,411 | |||
| open in new tabWETH ➞ WELL | $557,162 | 42.22% | 0.80% | 82.5% | $33,997 | $31,411 | |||
| open in new tabWETH ➞ USDY | $265,255 | 42.52% | 1.17% | 82.5% | $33,997 | $31,411 | |||
| open in new tabWETH ➞ ZWBTC | $77,608 | 47.40% | 7.09% | 82.5% | $33,997 | $31,411 | |||
| open in new tabWETH ➞ MOVE | $24,245 | 54.60% | 15.82% | 82.5% | $33,997 | $31,411 | |||
| open in new tabETH ➞ MOVE | $24,245 | 45.00% | 32.34% | 15.82% | 80% | $257,794 | $257,794 | ||
| open in new tabWETH ➞ WBTC.E | $12,199 | 43.49% | 2.35% | 82.5% | $33,997 | $31,411 | |||
| open in new tabWETH ➞ USDCX | $3,016 | 58.54% | 20.59% | 82.5% | $33,997 | $31,411 | |||
| open in new tabETH ➞ USDCX | $3,016 | 48.81% | 32.34% | 20.59% | 80% | $257,794 | $257,794 | ||
| open in new tabWETH ➞ USDCX | $3,016 | 44.08% | 27.61% | 20.59% | 80% | $54,230 | $47,205 |
