euler finance running 53% utilization ratio on $2.1b tvl. half the deposits are actually borrowed, not parked for points. privacy vaults went live last month, eulerEarn pulled $750m alone. morpho and fluid growing too but euler's the only one above 50% utilization. real borrowing demand beats tvl games every time. ...

Credit Expansion - China's credit expansion slowed more than expected in October compared to the previous year [1] - The slowdown was due to weaker government bond sales [1] - Sluggish borrowing demand across the economy also contributed to the slowdown [1]