Will there be another stablecoin de-peg ?

Terra’s UST depeg first started on Curve Finance and soon became visible in the 3pool. UST defender failed to close the gap between UST and DAI/USDC/USDT (75%-25%) on May 8th, the gap has since widened to 99%-1% while UST price drops to sub $0.1.

Curve UST-3CRV Pool proportion. Source: @elenahoo Dune Analytics

Depeg contagion has spread over to a wider group of stablecoins, especially to USDT. The 3pool proportion gap for USDT/USDC/DAI widened to…

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Specialise in NFT & DeFi analytics & modeling. Crypto and decentralisation enthusiast. You can DM me for questions or discussions on Twitter @elenahoolu

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elenahoo

Specialise in NFT & DeFi analytics & modeling. Crypto and decentralisation enthusiast. You can DM me for questions or discussions on Twitter @elenahoolu