TL;DR —
USDC lost its peg to the US dollar on Saturday, 11th March 2023. The coin dropped from $1 to a low of $0.887 in price. The market cap of the token dropped below $40 billion as a 15% decline was recorded. Other stable coins like DAI and Frax which were backed by USDC have also been depegged.
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@juxtathinka
Freelance Content Writer with a keen interest in creating the best beginner friendly blockchain content.
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usdc|stablecoin|cryptocurrency|blockchain|fiat-pegged-stablecoins|investment|hackernoon-top-story|svb|web-monetization|hackernoon-es|hackernoon-hi|hackernoon-zh|hackernoon-vi|hackernoon-fr|hackernoon-pt|hackernoon-ja|hackernoon-tr|hackernoon-ko|hackernoon-de|hackernoon-bn
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