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Golden Ten Data reported on April 19 that BlackRock warned soaring energy costs and rising valuations mean European stocks are no longer as attractive as they were a few months ago. The company's international chief investment officer, Helen Jewell, said that the economic impact of high oil and gas prices, as well as the narrowing valuation gap between European and U.S. stocks after the relatively strong performance of European markets in recent months, means she has reduced her optimism toward European stocks in the near term. "It's hard for us to be as positive on Europe as we once were," Jewell said, noting that the continent is particularly vulnerable to the impact of global energy price shocks on consumer spending.

Spark Protocol’s Head of Strategy, monetsupply.eth, stated on X that in January of this year, assets with low usage such as rsETH were delisted and the range of collateral and functionalities continued to be tightened, which at the time triggered strong dissatisfaction among “ETH circular leverage” users. Additionally, Spark has long set a relatively high maximum interest rate cap in the ETH lending market, and over the past year has ceded some business and revenue to a certain exchange (whose ETH borrowing rate once dropped to 10% or lower). However, under the current market crisis conditions, this strategy has proven to be more prudent. SparkLend still maintains ample ETH withdrawal liquidity, while that exchange has experienced liquidity shortages, and even “lock-in” situations, on Ethereum mainnet as well as multi-chain markets such as Arbitrum and Base. monetsupply.eth further warned that since ETH is the core collateral asset, when market utilization reaches 100%, collateral liquidations cannot be properly executed. Liquidity depletion not only affects depositors’ experience, but could also pose systemic risk. Given the current liquidity shortage at that exchange, if the price of ETH falls by 15%-20%, significant bad debt could accumulate (in addition to the potential impact of the rsETH incident).

Foresight News reports that, according to the Aave page, affected by the Kelp DAO attack incident, the Aave V3 Core Market (Ethereum mainnet) has a USDT deposit scale of $3.29 billion, with only about $400,000 of available liquidity remaining and a utilization rate of 99.99%. The Plasma Market USDT0 market has reserves of $1.35 billion, available liquidity is less than $0.01, and utilization is at 100%.