SparkLend USDT Pool Holds $11.95M as Utilization Nears 96%

The near-96% utilization is the real story here: at that level, the pool has little slack, and the thin spread between supplier yield and borrower cost is a mechanical outcome of the rate model rather than a market signal. This matters most for suppliers who may want to exit, since available liquidity is small relative to what's supplied, and for borrowers whose positions depend on staying below the kink. Whether utilization eases back as rates attract new supply, or stays pinned near the ceiling, is the open question to watch.