PayPal's stablecoin suspected of "fat finger": It suddenly increased 5 times

A remarkable movement was seen in the price of PayPal USD (PYUSD) in the evening hours. The price increased 5 times in minutes on the OKX exchange and became $5. As the token fell at the same speed, the "fat finger" error came to mind.

PYUSD, PayPal's stablecoin equivalent to the US Dollar, came to the agenda with a surprising price movement on the OKX exchange. PYUSD, which was traded at $1 at 21:50, increased by 400 percent in minutes and rose to $5. After this rapid rise, the token fell at the same speed and fell back to $1.

During the price movement, a trading volume of over $1 million was realized.

This sudden rise and fall brought to mind the possibility of a mistake known as "fat finger" in the market. It is thought that a wrong purchase order, especially made in a large amount, could have increased the price so quickly.

Such events can occur from time to time, especially in low-liquidity trading pairs or algorithmic trading platforms. However, this time, while PYUSD was expected to be a stablecoin and its price would generally remain around $1, this sudden increase surprised investors. ✒️Uzmancoin