DAI has recovered from the drastic depeg that was caused by the ripple effect of USDC.
#DAI #recovers #severe #depeg #caused #USDC #ripple #effect
‘Zoom Towns’ Exploded in the Work-From-Home Era. Now New Residents Are Facing Layoffs
March 28, 2023
5 Comments
#Zoom #Towns #Exploded #WorkFromHome #Era #Residents #Facing #Layoffs
Ripple effect? Someone threw a brick into the pond.
Can we celebrate, or is it too early?
Good to see it recovering so fast
tldr; MakerDAO’s stablecoin DAI recently experienced a recovery following a de-pegging event that saw the stablecoin drop from the $1 value to $0.88. DAI was collateralized with USDC, which is pegged to the US dollar. USDC accounted for 51.87% of DAI’s collateral, valued at $4.42 billion.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today’s trending news [here](https://coinfeeds.substack.com).*
standing tall
Thank goodness. Hang in there DAI and USDC
USDC is also back to $1
Wow it looks like a lot of the systems the crypto edifice is built on are being stress tested at the moment.
I hope they move funds around to be a little less dependent going forward, I was watching the prices when USDC dipped and it moved almost identically. If that’s going to be the case, there’s really no point in holding DAI at all.