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Sharp 60% Short-Term Drop in Euro Stablecoin ibEUR

Sharp 60% Short-Term Drop in Euro Stablecoin ibEUR

2023/12/19 18:00

According to a public statement by insiders, Iron Bank Euro (ibEUR) experienced a rapid decline, dropping from $0.97 to $0.39, a 60% plunge, before rebounding to $0.72. The uncoupling occurred after a trader withdrew nearly $900,000 in USDC liquidity from the Curve pool that supports most ibEUR transactions. Analysts suggest a lack of liquidity needed for stable asset support, and the swift recovery to previous price levels for ibEUR cannot be guaranteed.

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