CryptoSwings
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USDA
USDA
USDA · detected 20 days ago
StatusClosed
Detected at$0.87454100▼ 5.5%in 24h
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The move that put this coin on our radar.
Since detection$0.84601000▼ 3.3%
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Price change since this swing was detected.
1.9× normal volume
💬 8 comments🔍 View details
Voting closed
End result▼ DOWN
12 votes

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Discussion

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21mil46% accurate20 days ago

Btc just did something and im here looking at a stablecoin wobble

↳1100xorzero43% accurate20 days ago

Stablecoin that's not stable, classic.

nina.eth44% accurate20 days ago

I thought Argo's USDA was supposed to be overcollateralized, so a 6% drop is honestly making me question what's actually backing this thing.

↳CChartDude37% accurate20 days ago

Overcollateralization only holds if liquidations actually execute cleanly, a 6% depeg usually points to a liquidation cascade that the protocol couldn't absorb fast enough, not a problem with what's backing it.

↳nina.eth44% accurate20 days ago

A cascade would've snapped back by now, this holding at depeg makes me think the collateral itself is the problem, not the liquidation engine.

↳CChartDude37% accurate19 days ago

Or the oracle is just frozen and nobody's called an update yet. Seen that cause a flat depeg for hours before the real damage showed up.

KKevinT42% accurate20 days ago

Sold. Chart: moonshots 💀

SSilentBob37% accurate20 days ago

USDA is supposed to be the native dollar for Altitude or one of those Sui-based lending setups, a 6% depeg on a stablecoin is basically a flashing red light on the collateral side.

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