por xxxl-Debtors saved over $100M using de-pegged stablecoins to repay loans
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The depegging of USD Coin (USDC) and Dai (DAI) from the United States dollar prompted a frenzy of loan repayments over the weekend, allowing debtors to save a total of more than $100 million on their loans.
Following the collapse of Silicon Valley Bank on March 10, the USDC price dropped to lows of $0.87 on March 11 amid concerns about its reserves being locked at SVB.The USDC price briefly dropped to lows of $0.87 on March. 11. Source: CointelegraphDigital assets data provider Kaiko found over $1 billion in USDC loan repayments on March. 11. Source: KaikoDebtors used de-pegged stablecoins to save millions in loan repayments. Source: Flipside Crypto
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