Defi Protocol Abracadabra’s Stablecoin MIM Briefly Slides to $0.91 During the Crypto Market Rout

Bitcoin.com | Jun 19, 2022 at 6:00 AM
  • 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.
  • Despite the funds being added, on June 18, USDD slipped to a low of $0.948 per unit and the crypto token is currently exchanging hands for $0.964 at the time of writing at 6:05 p.m. (ET).
  • On the same day, the Abracadabra-issued stablecoin magic internet money (MIM) also slipped below the asset’s $1 parity, dropping to a low of $0.914 per unit.