It reported 609 instances of depegging in 2023 among major fiat-backed #stabilcoin s, up from 707 in 2022. #Pegging points to fluctuations of more than 3% in one day against fiat pegs, highlighting the volatile nature of the sector.

Moody's also introduced the Digital Asset Monitor (DAM) to predict stablecoin depegging and assess risks. #DAM covers 25 major fiat-backed #stablecoin and provides information on issuers, custodians and market dynamics to help manage #DeFiChallenge risks.