) and TrueUSD . Fear, doubt, and uncertainty have spread across crypto markets during the last few hours, resulting in unbalanced pools in the DeFi platform due to a sell-off of USDC, leading the major stablecoin price to fall below its $1 peg.
USDC is the second-biggest stablecoin, with a market cap of over $42 billion as of January 31, serving as collateral for many stablecoin ecosystems. Its depegon other stablecoins like DAI issued by MakerDAO, down 5% at the time of publication. To prevent panic selling, MakerDAO filed an “urgent executive proposal to mitigate risks to the protocol” on March 11
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That's not surprising at all
Let’s see an official profile for you guys on AstroSpaces 🤍