Xtar VC4S showing low MaH for 18650 batteries.

3.4v is not ‘very’ discharged depending on the specific battery and age.
Due to the charge/discharge curve of li-on there can be a good deal of capacity from 2.8-3.0v up to 3.4v, and even more between 3.4 > 3.7v.

You might peruse this chart.