Free Tool
Stablecoin Peg Monitor
Live USD peg tracking — deviation, price, and market cap for every major stablecoin.
Asset
Deviation
Status
Deviation = price − $1.00 · 3 min refresh
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Try Zest ExchangeNotable Historical De-pegs
Terra's algorithmic stablecoin collapsed from $1 to near zero in 72 hours after its Anchor yield reserve was drained. $60B+ in value was wiped out — the largest stablecoin failure in history.
Circle disclosed $3.3B of USDC reserves were held at Silicon Valley Bank when regulators seized it. USDC fell to $0.87 in hours before recovering once Circle guaranteed full backing.
"Black Thursday" — ETH crashed 50% in a single day, liquidating under-collateralized vaults faster than keepers could act. DAI briefly traded at $1.06 as demand for the token outstripped supply.
What is a stablecoin de-peg?
A de-peg occurs when a stablecoin's price deviates significantly from its $1 target. Fluctuations below 0.1% are normal market noise; deviations above 1–2% signal liquidity stress, collateral issues, or a loss of market confidence.
How is deviation calculated?
Deviation = (current price − $1.00) × 100. A price of $0.98 shows −2.0%. Prices above $1 are also tracked — LUSD and crvUSD often trade at a small premium when demand exceeds redeemable supply.
How do de-pegs happen?
Three root causes: (1) Bank run — mass redemptions drain reserves faster than they can be replenished, as with USDC during the SVB collapse. (2) Collateral failure — backing assets crash in value, breaking the peg mechanically (UST, DAI on Black Thursday). (3) Market panic — holders sell at a discount expecting a failure, turning the fear into a self-fulfilling spiral even when reserves are intact.