HomeAltcoinsThe value of stablecoin Iron Bank Euro (ibEUR) has dropped and is...

The value of stablecoin Iron Bank Euro (ibEUR) has dropped and is no longer fixed to the euro.


After dropping by 60% on Monday, the Iron Bank Euro (ibEUR) stablecoin is not planning to fix the peg. The little-known stablecoin, which has a value of $11 million, dropped from its usual price of $0. 97 to $039 on Monday after a surprise problem with ibEUR’s main trading pool caused the asset’s markets to become unbalanced.

At the moment, ibEUR was back up to $0. 72 because cautious traders were buying in hopes that the peg would be fixed. However, we can’t be sure that ibEUR will go back to its old price soon. Peg lost value because one trader took out almost $900,000 of USDC from the Curve pool, which is used for most ibEUR trading.

According to someone in charge of a chat group for Keep3r Network, the ibEUR-backing protocol is not doing anything to keep the value stable, and it doesn’t have enough money to help keep the asset steady. He also said that it would be good if the Iron Bank team stopped using the 2. 5 million ibEUR borrowed money.


Please enter your comment!
Please enter your name here


Paris Saint-Germain is the first soccer team to use blockchain technology.

Paris Saint-Germain, a big soccer team, is going to check and approve transactions on the Chiliz Chain blockchain. They will use the money they make...

How will using AI to protect health data affect healthcare.

Improvements in AI-based Health Data Privacy are changing healthcare by making it possible to analyze private health information safely and quickly. New ways of...

Studying how AI affects how brands are creative.

Smart AI, like OpenAI's Sora, is changing how we make creative things by making it possible to make high-quality videos from just typing words. ...

Bitcoin drops to lowest point in a week due to concerns about big investors and the Nvidia company.

Bitcoin was about to move outside of its usual trading range at the beginning of the Wall Street day on February 21, because it...

Most Popular