China News Service, May 17th, according to the encrypted asset price tracking website CoinMarketCap, Deus Finance's DEI token lost its 1:1 peg with the US dollar, and the current price fluctuated around 60 cents.
The price of DEI tokens has been volatile since the evening of the 15th, and once dropped to 52 cents, with a current market value of $45.67 million.
Source: CoinMarketCap.
Unlike the TerraUSD stablecoin that has previously shaken the entire cryptocurrency market, DEI is a fractional-reserve stablecoin backed by cryptocurrency collateral.
According to a tweet from Deus Finance, the team is working to restore the stablecoin’s 1:1 peg to the U.S. dollar.
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