Defi Protocol Abracadabra’s Stablecoin MIM Briefly Slides to $0.91 During the...

Defi Protocol Abracadabra’s Stablecoin MIM Briefly Slides to $0.91 During the...

Amid the crypto market carnage this weekend, another stablecoin slipped below the $1 peg on Saturday, June 18, as the crypto asset called magic internet money (MIM) briefly dropped to a low of $0.914 per unit. The Abracadabra-issued stablecoin dropping in value follows the recent terrausd (UST) failure and USDD’s recent volatility last week. Stablecoin Magic Internet Money Loses $1 Parity But Regains Strength After the Fall to $0.91 In mid-May 2022, the entire world witnessed an algorithmic stablecoin called terrausd (UST) depeg from its $1 parity and slide below a U.S.....


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