Another #stablecoin drops below its $1 #peg and is now trading at $0.54

The frequency of depeg events, or stablecoins losing their peg to the dollar, has been growing recently in the #cryptocurrency community.

Real USD (USDR), a stablecoin built on polygons and backed by illiquid real estate assets, has lost its peg and is currently trading at $0.54 as of this writing.

The #USDR no longer has a one-to-one relationship with the US dollar due to the loss of its peg. The coin was supported by a depreciated token, a token that had been gutted, and a treasury that was backed by a little insurance fund.