The Pax Dollar (USDP) stablecoin recently experienced a brie

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The Pax Dollar (USDP) stablecoin recently experienced a brief surge in price due to issues with pricing aggregators, not the protocol itself, according to a Paxos spokesperson. The stablecoin's price jumped to $1.29 on April 16, before returning to $1 within three hours. This depegging occurred during a significant market cap increase for USDP, which briefly rose from a $140 million market cap to a $181 million market capitalization. Despite the temporary price fluctuation, USDP will always remain redeemable at fair value via Paxos. An unknown trader was liquidated for $529,000 worth of Circle’s USDC on April 16, shortly after the Pax Dollar surged to $1.18.

The Pax Dollar (USDP) stablecoin recently experienced a brief surge in price due to issues with pricing aggregators, not the protocol itself, according to a Paxos spokesperson. The stablecoin's price jumped to $1.29 on April 16, before returning to $1 within three hours. This depegging occurred during a significant market cap increase for USDP, which briefly rose from a $140 million market cap to a $181 million market capitalization. Despite the temporary price fluctuation, USDP will always remain redeemable at fair value via Paxos. An unknown trader was liquidated for $529,000 worth of Circle’s USDC on April 16, shortly after the Pax Dollar surged to $1.18.

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