Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Tangible Faces Crisis as USDR Stablecoin Crashes: What’s Next?

Published 10/12/2023, 05:17 PM
Updated 10/12/2023, 05:45 PM
Tangible Faces Crisis as USDR Stablecoin Crashes: What’s Next?

  • Tangible experienced a significant crisis as its native yield stablecoin, Real USD (USDR), suffered a sharp depegging.
  • Panic selling of the stablecoin caused a 46.07% price drop in just 24 hours.
  • Tangible announced that its future will not include Real USD (USDR).

Tangible, an ecosystem for tokenized real-world assets, suffered from the crash of its stablecoin, Real USD (USDR). The stablecoin is a native yield stablecoin backed by real estate, but Tangible shared that there has been “an accelerated drawdown in the market cap, combined with the lack of DAI for redemptions; panic selling ensued, causing a depeg.”

The price of USDR at the time of writing was $0.5238, according to CoinMarketCap, a 46.07% decrease in the last twenty-four hours. Tangible shared that this was a liquidity issue; the real estate and digital assets backing the stablecoin…

The post Tangible Faces Crisis as USDR Stablecoin Crashes: What’s Next? appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.