đ„ The DeFi situation is escalating⊠and most people still donât see it.
It started with the KelpDAO rsETH hack.
At first, it looked like just another isolated exploit.
But now?
Itâs spreading.
And not just within Ethereum-based ecosystems.
The impact has officially reached Solana.
Thatâs where things start getting serious.
On Kamino, one of Solanaâs top lending protocols, the numbers are telling a very clear story.
Liquidity is disappearing.
Fast.
The Prime Market USDC reserve â around $178 million in size â has already hit 100% utilization.
That means thereâs literally no liquidity left.
Zero.
And when a market reaches that point, itâs no longer stable.
Itâs under pressure.
At the same time, multiple vaults like Staekhouse USDC and RockawayX RWA USDC are pushing past 95% utilization.
Thatâs not healthy.
Thatâs stress building inside the system.
This is how DeFi contagion works.
It doesnât hit everything at once.
It spreads step by step.
One protocol.
One chain.
Then another.
Until liquidity across the system starts tightening everywhere.
Right now, this isnât a collapse.
But it is a warning.
Because when liquidity gets this tightâŠ
Any shock can trigger a bigger reaction.
Stay alert.
This isnât noise.
This is structure shifting.