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Blog iconMohammed Aasif Mansoori
Mar 12

DAI Depegs to Lifetime Lows as Stablecoin Rout Plagues Crypto

As the market continues to digest the impact of the sudden collapse of tech-focused Silicon Valley Bank, days after Silvergate went into voluntary liquidation, algorithmic stablecoin DAI has been knocked off its peg and has hit an all-time low of 0.88 cents.DAI is currently trading at $0.90 according to CoinGecko data.DAI is an algorithmic stablecoin that is collateralized by holdings from MakerDAO which includes USDC. Traders are speculating that Circle, which issues USDC, has worse exposure...

Mohammed Aasif Mansoori

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Mohammed Aasif Mansoori

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