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Stablecoin De-pegging

A coin built to stay at one dollar loses that anchor, as TerraUSD did in 2022: holders rush for the exit, lending platforms freeze and the panic spreads to the rest of crypto.

Asset classes: Crypto

Dated events

  1. · TerraUSD (UST) stablecoin first slips below its $1 peg
    Terra's UST coin, which was supposed to always be worth $1, started dropping in value. People panicked and tried to cash out their money at the same time, which made things worse.
  2. · UST falls to about 27 cents and Luna token drops 85% in a day
    The UST coin fell to about 27 cents instead of $1, and the Luna token that backed it lost about 85% of its value in a single day. Billions of dollars in savings disappeared in days.
  3. · Terra validators halt the blockchain as Luna's price collapses
    The Terra network shut down temporarily to try to stop the collapse from getting worse, but it was too late to save most people's money.
  4. · USDC stablecoin breaks dollar peg after Circle reveals $3.3B stuck at SVB
    After Silicon Valley Bank failed, Circle revealed that $3.3 billion of the money backing its USDC coin, which is meant to stay at $1, was stuck at the bank. Holders rushed to sell and USDC fell to about 88 cents. It regained its $1 value within two days, after US officials said all of the bank's deposits would be repaid.

Assets named in this scenario · 5

AaveArbitrum (ARB)Bitcoin (BTC)Ethereum (ETH)Solana (SOL)

Recently triggered by news

Matched keywords: stablecoin depeg, depeg, stablecoin collapse, loses peg, stablecoin reserves, stablecoin run, stablecoin çöktü, sabit coin

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