Tether USDt

USDC

<ul><li>S&amp;P Global report reveals that the banking crisis in March 2023, including the collapse of three US banks, led to USDC and DAI depegging events.</li><li>USDC and DAI dropped to $0.87 and $0.85, respectively, on March 11–13, 2023 due to cash reserves held at SVB.</li><li>USDP stablecoin exhibits the highest deviations above and below $1.</li></ul>In a recent <a href="https://www.spglobal.com/_division_assets/images/special-editorial/stablecoins-a-deep-dive-into-valuation-and-depegging/stablecoinsadeepdiveintovaluationanddepegging.pdf" rel="noopener noreferrer nofollow">report</a> by S&amp;P Global, it has been revealed that two prominent stablecoins, USDC and DAI, have experienced longer periods of depegging compared to their counterparts, USDT and BUSD. Circle’s USDC and MakerDAO’s DAI were below $0.90 for 23 minutes and 20 minutes, respectively, in the longest and deepest depeg event.The study uncovered several facts about five stablecoins - Tether (USDT), Binance USDBUSD, Paxos (USDP), USDC and DAI. It revealed the fact that if weekends are excluded, a couple of these stablecoins become less volatile (change in value). This is due to the fact that they rely on traditional banking systems, which do not operate on weekends.S&amp;P Global highlighted the depegging event on March 10-13, 2023, starting with the failure of three US banks, Silicon Valley Bank (SVB), Signature Bank, and Silvergate Bank. This eventually resulted in the depegging of USDC, which fell 13% below $1, and DAI, which fell to $0.85.The USDC and DAI dips below $0.90 are caused by the SVB collapse in March 2023, when the price fell to $0.87 for USDC and $0.85 for DAI. USDC depreciated as a result of $3.3 billion in cash reserves backing USDC held at SVB.- Read full article a<a href="https://cryptotale.org/stablecoins-usdc-and-dai-experience-longer-depegs-than-others/" rel="noopener noreferrer nofollow">t CryptoTale .</a>

Stablecoins USDC and DAI Experience Longer Depegs Than Others

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