{"id":12664,"date":"2024-04-17T17:16:00","date_gmt":"2024-04-17T14:16:00","guid":{"rendered":"https:\/\/forklog.com\/en\/trader-loses-529000-as-usdp-stablecoin-surges-above-1-18\/"},"modified":"2024-04-17T17:16:00","modified_gmt":"2024-04-17T14:16:00","slug":"trader-loses-529000-as-usdp-stablecoin-surges-above-1-18","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/trader-loses-529000-as-usdp-stablecoin-surges-above-1-18\/","title":{"rendered":"Trader Loses $529,000 as USDP Stablecoin Surges Above $1.18"},"content":{"rendered":"<p>On April 16, the price of Paxos&#8217; stablecoin USDP soared past $1.18. This deviation from its peg resulted in the liquidation of $529,000 USDC for one trader, according to PeckShield.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/PeckShieldAlert?src=hash&#038;ref_src=twsrc%5Etfw\">#PeckShieldAlert<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Liquidation?src=hash&#038;ref_src=twsrc%5Etfw\">#Liquidation<\/a> An address (0x09a5\u2026a87f) was liquidated ~529K <a href=\"https:\/\/twitter.com\/search?q=%24USDC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$USDC<\/a> after <a href=\"https:\/\/twitter.com\/search?q=%24USDP&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$USDP<\/a> (Pax Dollar) surged to $1.18 <a href=\"https:\/\/t.co\/UbWxx8kZU4\">pic.twitter.com\/UbWxx8kZU4<\/a><\/p>\n<p>\u2014 PeckShieldAlert (@PeckShieldAlert) <a href=\"https:\/\/twitter.com\/PeckShieldAlert\/status\/1780489530057069009?ref_src=twsrc%5Etfw\">April 17, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The anomaly was observed from 21:20 to 00:00 (MSK\/Kyiv). The peg was fully restored an hour after this period.<\/p>\n<p>Earlier, the Aave-inspired lending protocol Pac Finance, based on the L2 solution Blast, faced unexpected user position liquidations amounting to $26 million.<\/p>\n<p>In the first two weeks of April, the volume of forced position closures in Ethereum&#8217;s lending markets reached $127.8 million, surpassing monthly figures not seen since at least June 2022.<\/p>\n<p>Moody\u2019s recorded 609 depegs of major stablecoins over the past year. In total, there were 1914 &#8220;depegs&#8221; from January to September.<\/p>\n<p>The last significant episode of this kind <a href=\"https:\/\/forklog.com\/en\/news\/tusd-stablecoin-loses-dollar-peg\">occurred<\/a> with TUSD in January 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On April 16, the price of Paxos&#8217; stablecoin USDP soared past $1.18. This deviation from its peg resulted in the liquidation of $529,000 USDC for one trader, according to PeckShield. #PeckShieldAlert #Liquidation An address (0x09a5\u2026a87f) was liquidated ~529K $USDC after $USDP (Pax Dollar) surged to $1.18 pic.twitter.com\/UbWxx8kZU4 \u2014 PeckShieldAlert (@PeckShieldAlert) April 17, 2024 The anomaly [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1145,1504,807],"class_list":["post-12664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-market-analysis","tag-paxos","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"59","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=12664"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12664\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/12663"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=12664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=12664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=12664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}