These 3 Altcoins On Binance Lose Their Peg With ‘SVB Sinking’! –

The Silicon Valley Bank (SVB) collapse has negatively impacted many altcoin projects. While the markets are dragged into panic, everything is shaking again with a domino effect. The latest data shows that various stablecoins are losing their peg. Here are the details…

Altcoin projects affected by SVB events

The crypto-asset market, which has been dealing with a heavy sell-off, posted a broad recovery on Saturday morning. Bitcoin and Ethereum price rose 2% and 4% respectively. However, as the Silicon Valley Bank crisis continues to plague the crypto market, top stablecoins USDC, DAI and USDD witnessed a heavy decline. As we reported, USD Coin (USDC), the second largest stablecoin, has seen its dollar-pegged value drop by 11% in the past day, according to data.

USDC is trading at an average price of $0.912 at the time of writing. 24-hour trading volume increased by 321 percent to $18.54 billion as it lost $1 of its fixed value. Circle, the issuer of USDC, said in a statement that Silicon Valley Bank is one of six banking partners. However, they only use these banks to manage 25 percent of their USDC reserves held in cash. Meanwhile, Circle still awaits clarity on how the Federal Deposit Insurance Corporation’s (FDIC) SVB reception will affect its users.

DAI loses steady at USDD

USDC has a circulating supply of approximately 40.9 billion, while its market cap has slumped to $36.4 billion. As the market is witnessing a high liquidity situation at the moment, the gap between the pegged value of the coin and its current fixed value is stretching. But USDC isn’t the only stablecoin to face de-pegging issues amid the recent crisis. DAI, an Ethereum-based stablecoin, has also been hit. The DAI price has dropped 10 percent over the past day. It is trading at an average price of $0.904 at press time.

Altcoin Trader Short on 2 Coins

DAI is an algorithmic stablecoin secured by the assets of MakerDAO, which includes USDC. On-chain data from Dune shows $563 million worth of DAI has been burned in the last 24 hours. In total, the stablecoin has a market cap of $4.9 billion. Curve 3pool’s liquidity pool was also hit as investors fled USDC. The USDT share of the pool fell below 1.5 percent on Saturday afternoon. As it should have been earlier this week, USDT was evenly split between USDC and DAI. Justin Sun’s USDD, who has already had issues with depeping, has also dropped nearly 7 percent in the last 24 hours. USDD is trading at an average price of $0.92 at the time of writing.

Contact us to be instantly informed about the last minute developments. twitterin, Facebookin and InstagramFollow and Telegram And YouTube join our channel!

Risk Disclosure: The articles and articles on do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. does not recommend buying or selling any cryptocurrencies or digital assets, nor is an investment advisor. For this reason, and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.

Disclaimer: Advertisements on are carried out through third-party advertising channels. In addition, also includes sponsored articles and press releases on its site. For this reason, advertising links directed from are on the site completely independent of’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on and the pages directed by the links in the sponsored articles do not bind in any way.

Warning: Citing the news content of and quoting by giving a link is subject to the permission of No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of in violation of intellectual property law and relevant legislation.

Show Disclaimer

source site-3