The Yala stablecoin (YU), backed by Polychain, experienced a significant depegging event today, according to DEX Screener. The stablecoin's value plummeted to a low of $0.2074 before recovering to $0.923. This volatility occurred between 5:14 UTC+8 and the present time.
Additionally, liquidity for the YU/USDC pair on Ethereum's Uniswap is notably low, with only $1,450 in USDC available. This limited liquidity may have contributed to the price instability observed in the YU market.
Yala Stablecoin YU Experiences Depegging, Drops to $0.2074
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.