USDT, USDD, FRAX, Who Else? Stablecoins Under Fire Amid Market Uncertainty

Binance's stablecoin, BUSD, benefited from this panic the most: its price jumped over $1,012 as USDT holders started exchanging their funds to BUSD.Even EUR-pegged stablecoins suffered from the ongoing euphoria. Eurocoin by Circle jumped over €1.04 on major spot exchanges, according to CoinGecko.

The worst sufferers of this drama so far are decentralized stablecoins. USDD, an algorithmically-backed stablecoin by Tron ecosystem, plunged to $0.968 briefly. Justin Sun immediately injected new liquidity into a basket of assets backing USDD. Frax Finance , the smallest hybrid stablecoin with a $1+ billion capitalization, slid below $0,966. Both USDD and FRAX are still trading below $1 as of press time.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Utoday_en /  🏆 295. in UK

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tether's USDT falls 1% below dollar peg amid market uncertaintyTether's USDT has fallen slightly below its dollar peg on Thursday morning amid the ongoing uncertainty in crypto markets. stop ffs 🤦 Binance is holding whole supply
Read more »