The graph below shows the median LTV utilized by the Anchor borrowers to deposit into Anchor's saving feature. From the graph, we know that the average borrower utilizes the max LTV (or recommended LTV displayed on Anchor) most of the time, which is about 35% before Anchor increased their recommended LTV to 45% and liquidation to 60%. Other than that, we can also see that the average user also maintains the LTV at 35% (not just borrowing and forgetting it) in order to not get liquidated. During the May crash, the borrowers lowered their LTV to as low as 22.8%, perhaps fearing that they may get liquidated.

After the LTV increased to 45%, we see a slight increase of LTV to 40% instead of the recommended 45%. This shows that even though the cap is higher now, higher LTV does not appeal to the majority of the users, where it's easier to get liquidated and with higher interests to pay. This can be further proven when the median LTV went back down to the original 35% range, shortly after the cap is increased.