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Polygon stablecoin miMATIC remains depegged, trading at approximately 0.86 USD.
Polygon stablecoin miMATIC remains depegged, trading at a 14% discount to its 1 USD peg
BlockBeats reports that on September 23, according to monitoring by Blockaid, QiDao Protocol’s stablecoin miMATIC on Polygon remains depegged, currently trading at approximately 0.86 USD, about 14% below its 1 USD peg. Blockaid stated that the depegging is still ongoing as of now.
Original link https://m.theblockbeats.info/flash/368645
BlockBeats reported that on September 23, according to monitoring by Blockaid, QiDao Protocol’s stablecoin miMATIC on Polygon remained depegged.
miMATIC was trading at approximately 0.86 USD, about 14% below its 1 USD peg.
Blockaid stated that the depegging was still ongoing as of now.
The following is analysis, separate from reported facts. Verify important claims independently.
Stablecoin miMATIC is usually pegged to 1 USD, but it is currently trading at approximately 0.86 USD, below its peg.
The price remaining below its 1 USD peg indicates that miMATIC is currently unable to maintain its dollar peg.
This means that the market price seen by miMATIC holders is approximately 0.86 USD per token, rather than 1 USD.
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An asset that seeks to track a reference value and is subject to risks including depegging, reserves, and redemption.
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