The Euro-stablecoin ibEUR experienced a short-term plummet of 60%.

Kabir903 · Post time 23-12-2023 20:02:54

According to a public statement from insiders, Iron Bank Euro (ibEUR) earlier experienced a sharp drop from $0.97 to $0.39, a 60% plunge, before rebounding to $0.72. The uncoupling occurred after a trader withdrew nearly $900,000 worth of USDC liquidity from the Curve pool, which supports the majority of ibEUR trades. Analysts suggest a current lack of liquidity needed for stable assets, and there is no guarantee that ibEUR will quickly recover to its previous price levels.

Kahn332 · Post time 23-12-2023 20:09:15

Can stablecoins really experience such a significant drop?

Kalkin995 · Post time 23-12-2023 20:13:50

The extent of this sharp decline is quite substantial.

Pooja193 · Post time 23-12-2023 20:16:28

If there are experts shorting it, they could make a fortune.