depegging
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#USDT depeg spooks traders
Trading activity has intensified and the market has been significantly impacted by the #depegging of USDT.
With the highest market cap, USDT maintains its leadership despite the depegging.
#crypto
Trading activity has intensified and the market has been significantly impacted by the #depegging of USDT.
With the highest market cap, USDT maintains its leadership despite the depegging.
#crypto
Did a $131K USDR Swap End in Disaster Amid Liquidity Crisis? 🤯
In an attempt to withdraw #USDR stablecoins during a liquidity crisis on October 11, a trader swapped 131,350 USDR for 0 USDC, resulting in a total loss.
This incident occurred on the BNB Chain through the decentralized exchange #OpenOcean when USDR's value depegged by nearly 50%.
A bot took advantage of the situation, making $107,002 in profits through arbitrage. Liquidity issues in DEXs can lead to high slippage, as seen in a previous incident in September 2022.
USDR's #depegging on October 11 was triggered by user redemptions, as only a small portion of its assets were backed by liquid tokens. Tokenized real-estate assets and ERC-721 standard hindered liquidity, causing a collapse in investor confidence.
#Binance
#crypto2023
In an attempt to withdraw #USDR stablecoins during a liquidity crisis on October 11, a trader swapped 131,350 USDR for 0 USDC, resulting in a total loss.
This incident occurred on the BNB Chain through the decentralized exchange #OpenOcean when USDR's value depegged by nearly 50%.
A bot took advantage of the situation, making $107,002 in profits through arbitrage. Liquidity issues in DEXs can lead to high slippage, as seen in a previous incident in September 2022.
USDR's #depegging on October 11 was triggered by user redemptions, as only a small portion of its assets were backed by liquid tokens. Tokenized real-estate assets and ERC-721 standard hindered liquidity, causing a collapse in investor confidence.
#Binance
#crypto2023
