Crypto Whales Ditched Tether for USDC After Stablecoin Panic

r/CryptoCurrency Moonsr/CryptoCurrency Moons
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coindesk.com1m ago

For example, DAI, the largest decentralized and overcollateralized stablecoin, is holding USDC instead of USDT in its treasury. DAI, the currency of the blockchain protocol MakerDAO, has a market capitalization of more than $6 billion and keeps its 1:1 exchange ratio to the U.S. dollar by amassing much more crypto assets than the market value of all the DAI tokens in circulation.