USDR stablecoin depegs to $0.53, but team vows to provide solutions
1 min read
Real estate-backed stablecoin USDR lost its peg to the U.S. dollar after a rush of redemptions caused a draining of liquid assets such as Dai (
Stablecoins are intended to always be worth $1 on the open market. But they sometimes lose their peg under extreme market conditions.
Circle’s USDC (USDC), the sixth-largest cryptocurrency by market cap as of October 11, fell to $0.885 per coin on March 11 when several banks in the U.S. went bankrupt, but it regained its peg on March 14. Terra’s UST lost its peg in May and never recovered. It is valued at $0.01 per coin as of October 11, according to data from Coinmarketcap.
