Defi Protocol Abracadabra’s Stablecoin MIM Briefly Slides to $0.91 During the Crypto Market Rout – Altcoins Bitcoin News
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Amid the crypto market carnage this weekend, one other stablecoin slipped under the $1 peg on Saturday, June 18, as the crypto asset referred to as magic web money (MIM) briefly dropped to a low of…
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Amid the crypto market carnage this weekend, another stablecoin slipped below the $1 peg on Saturday, June 18, as the crypto asset called magic internet money (MIM) briefly dropped to a low of $0.914... [[ This is a content summary only. Visit my website for full links, other content, and…
First Digital USD ($FDUSD), a well-known stablecoin pegged to the USD, has witnessed a brief loss of peg. As per the data from Lookonchain, $FDUSD has recently plunged to $0.8726, resulting in huge withdrawal by Wintermute, a popular crypto market maker platform. The on-chain data firm provided the details of…
Late Wednesday afternoon, crypto analyst Ali Martinez beat the drum on a dramatic shift in market liquidity. Posting a chart from CryptoQuant, he pointed out that stablecoin reserves across centralized exchanges have plunged by roughly 9% over the past week, shedding about $3 billion of dry powder that traders typically…