Attractive APYs often catch attention, but liquidity depth is just as important; especially for institutional users. Concentrated liquidity or low available liquidity can create real challenges when exiting positions. 🔹 Moonwell $cbETH Market In this market, large depositors are well balanced, with positions well below the available liquidity threshold (≈2,337 cbETH). This means users could withdraw capital efficiently without stressing the system. 🔹 Moonwell USDC Market  Despite higher APYs, the USDC market shows a riskier setup. The largest whale’s deposits exceed the available liquidity (≈7.5M USDC). This concentration means even partial withdrawals could trigger liquidity issues—not just for that whale, but for the broader market. 🟰 Key takeaway: Always look beyond APYs. Liquidity distribution is a critical factor in assessing the real risk and capacity of DeFi markets.(Sentora (previously IntoTheBlock))