The divergence of USD Coin (USDC) and Dai (DAI) from the dollar parity has resulted in borrowers’ savings totaling more than $100 million in loans.
Flipside Crypto, one of the leading names of blockchain analytics firms, was stated to have saved $ 84.1 million in loan repayments while the stability problem experienced by USDC borrowers continued. On the DAI side, it was reported that users saved $20.8 million due to the stability issue. After the collapse of Silicon Valley Bank (SVB) on March 10, USDC made a statement, stating that it had reserves in SVB. After these events, USDC, which decreased to $ 0.87, caused fear in the crypto market. In the chain of events, it is seen that many users save.
Developments on Stablecoin Continuing
Stablecoins, which have been having problems in the past days, are on the attack. In stablecoins deviating from the dollar parity, especially USDC, had a great impact. Circle, the issuer of USDC, stated that the situation would be resolved by pointing to the date of March 13 upon the events.
With USDC and DAI approaching the dollar party, the dark clouds in the crypto market have disappeared. Upon the successive positive developments, positive events were seen not only for the crypto sector, but also for other sectors. Along with the stablecoin issues, many users with “credit repayments” saved were reflected in the reports.
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