USDC Got Depegged Following the SVB Collapse
Too Long; Didn't ReadUSDC lost its peg to the US dollar on Saturday, 11th March 2023. The coin dropped from $1 to a low of $0.887 in price. The market cap of the token dropped below $40 billion as a 15% decline was recorded. Other stable coins like DAI and Frax which were backed by USDC have also been depegged.