Aave V4's Arc market attracted roughly $76 million in supplied USDC by September 17, while less than $100,000 had been borrowed, according to CryptoSlate's review of Aavescan data. That put utilization near 0.1% in the reported snapshot.
The figures separate two kinds of adoption. Suppliers were willing to place USDC in the market, but borrowers had not yet drawn a comparable amount of credit. A larger deposit balance therefore does not by itself show that the market is being used for lending.
CryptoSlate also reported a proposal to raise the Arc Main Spoke's USDC add cap from 56 million to 150 million. That would allow more supply to enter without changing the reported 51 million USDC draw cap. The proposal and its execution status should be checked separately before treating the higher cap as active.
The useful follow-up measures are borrowed USDC, utilization and the resulting rates. If those rise together, the market will be showing credit demand. If deposits remain idle, the launch will have demonstrated supply appetite without yet proving an active lending market.
Sources: CryptoSlate analysis, Aave governance, Aavescan.