The $MIM stablecoin fell to 0.92 earlier today, it’s back to 0.98 right now

MIM is fully collateralized, FTX token accounts for 31% of the collateral followed by curve & yearn yield bearing tokens according to the [Abracadabra analytics page](

$MIM market cap has fallen rapidly from $4 billion just a few months ago to $200 million today.

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[Link to discussion in r/CryptoCurrency](

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7 thoughts on “The $MIM stablecoin fell to 0.92 earlier today, it’s back to 0.98 right now”

  1. I don’t trust other stables unless they are USDT or USDC.Those are the two stables that Utrust accepts for now, and they are what I use for payment

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  2. Another algorithmic stable with problems? It is really season of fallen stables: Terra UST, Beanstalk, depeg of USDD, and now we have $MIM.
    Interesting, but my colleagues have discussed not the fear of algorithmic stables and exit to USDT, but actually leveraged order with buying e.g at 0.98 and sell at $1. Which makes sense, actually

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