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Stablecoins in Trouble? USDC, DAI, USDD Depeg As SVB Crisis Deepens

Dealing with a heavy sell off, the global digital asset market registered a broad recovery on Saturday morning. Bitcoin, Ethereum price jumped by 3% and 5%, respectively. However, the top stablecoins USDC, DAI, USDD witnessed a heavy depegging as the Silicon Valley Bank crisis continues to haunt the crypto market.

As per the data, USD Coin (USDC), the second largest stablecoin witnessed its dollar pegged value to drop by 11% over the past day. USDC is trading at an average price of $0.912, at the press time.

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