The minor alternative stablecoin, which has an issuance of $3.7 million, dropped from its normal price of $0.97 to as low as $0.39 Monday after a shakeup in ibEUR’s main trading pool left the asset’s markets imbalanced. At press time ibEUR had recovered to $0.72 after risk-prone traders piled in, hoping for a path back to – or at least closer to – its supposed Euro peg.
Source: https://www.coindesk.com/business/2023/12/19/crashed-stablecoin-iron-bank-euro-ibeur-lacks-clear-repeg-path/?utm_medium=referral&utm_source=rss&utm_campaign=headlines