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Why Did USDR Stablecoin Fall to $0.53 Amid Rush of Redemptions? 📉
#USDR stablecoin, backed by real estate and digital assets, experienced a sharp drop to $0.53 due to a rush of redemptions that drained its treasury of liquid assets like DAI.
Despite the 50% value loss, the project team assures that it's a #temporary liquidity issue, and they have real assets to support redemptions.
Stablecoins aim to be worth $1 but can lose their #peg under extreme market conditions, as seen with USDR and other stablecoins like USDC and UST.
#Binance
#crypto2023
#USDR stablecoin, backed by real estate and digital assets, experienced a sharp drop to $0.53 due to a rush of redemptions that drained its treasury of liquid assets like DAI.
Despite the 50% value loss, the project team assures that it's a #temporary liquidity issue, and they have real assets to support redemptions.
Stablecoins aim to be worth $1 but can lose their #peg under extreme market conditions, as seen with USDR and other stablecoins like USDC and UST.
#Binance
#crypto2023
