Stablecoin Depeg Calculator
Stable describes an intention, not a guarantee. USDC traded at 87 cents in March 2023 before recovering fully.
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Which stablecoins can depeg
All of them, for different reasons. Fully backed coins depeg when the market doubts the reserves or a banking partner fails. Over collateralised coins depeg when a crash outruns liquidations. Algorithmic coins depeg permanently, as Terra UST did in 2022.
Spread the risk
For meaningful balances, hold across two issuers. Holding one stablecoin is holding a claim on one company.
Common questions
Has USDC ever depegged?
Yes. In March 2023 it fell to about 87 cents when part of its reserves were held at Silicon Valley Bank, and it recovered fully once deposits were guaranteed.
Are stablecoins safe?
Fully backed ones with published attestations are reliable day to day and are still a claim on a company. Algorithmic stablecoins have a much worse record.
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Risk warning: crypto is highly volatile and largely unregulated. This is an information tool, not financial advice.