Curve Finance trading volume reaches $7B historic high after USDC depeg

) and TrueUSD . Fear, doubt, and uncertainty have spread across crypto markets during the last few hours, resulting in unbalanced pools in the DeFi platform due to a sell-off of USDC, leading the major stablecoin price to fall below its $1 peg.

USDC is the second-biggest stablecoin, with a market cap of over $42 billion as of January 31, serving as collateral for many stablecoin ecosystems. Its depegon other stablecoins like DAI issued by MakerDAO, down 5% at the time of publication. To prevent panic selling, MakerDAO filed an “urgent executive proposal to mitigate risks to the protocol” on March 11

That's not surprising at all

Let’s see an official profile for you guys on AstroSpaces 🤍

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Source: CoinDesk - 🏆 291. / 63 Read more »