🚨 This isn’t just a single exploit anymore… it’s turning into a full market reaction.
After the KelpDAO rsETH hack, the impact is no longer limited to just EVM chains.
Now, the pressure is spreading — and Solana is starting to feel it.
What’s happening on-chain right now is something smart money is watching very closely.
Liquidity is tightening.
Risk is rising.
And the signals are getting harder to ignore.
On Solana, multiple USDC lending markets are showing unusual stress.
Kamino — one of the leading lending protocols — is already flashing warning signs.
The Prime Market USDC reserve, sitting at around $178 million…
Is now fully utilized.
100% utilization.
Zero liquidity left.
That’s not normal.
That’s pressure.
And it doesn’t stop there.
Other vaults like Staekhouse USDC Vault and RockawayX RWA USDC are also seeing utilization rates jump above 95%.
Which means one thing:
Users are pulling liquidity…
Borrowing demand is rising…
And the system is getting tight.
This is how risk builds silently.
Not with price crashes first…
But with liquidity drying up behind the scenes.
And once liquidity disappears, markets don’t move slowly.
They move fast.
This isn’t panic yet.
But it’s definitely tension.
And in DeFi, tension often comes before volatility.
Watch liquidity.
Watch utilization.
Watch how fast things change from here.
Because when capital starts moving like this…
It’s never random.