Solana's multiple protocol stablecoin lending rates and utilization soar, with Jupiter Lend's USDC utilization reaching 99%.

2026.04.20 09:25:48

April 20th: Cascading effects from the KelpDAO rsETH hack have begun to ripple through the DeFi ecosystem, with stablecoin borrowing rates and utilization rates rising at multiple Solana-based lending protocols: - **Jupiter Lend**: USDC supply stands at $4.21 billion, with $3.4 billion borrowed. Excluding protocol reserve liquidity, utilization has surged to ~99% (nearly all available liquidity is lent out). Current borrowing rate: 4.36%. - **Kamino Prime Market**: Total USDC supply ~$1.868 billion, borrowings ~$1.788 billion → utilization ~96%, borrowing rate 8.92%. **Kamino Main Market**: Total USDC supply ~$1.72 billion, borrowings ~$1.64 billion → utilization ~95.75%, borrowing rate 10.2%. - **Save Finance (formerly Solend)**: Borrowing utilization exceeds 70%, borrowing rate 3.9%. - **Marginfi**: USDC borrowing utilization hits 88.32%, borrowing rate 7.65%.

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