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CoinGape
2022-06-18 07:08:03

Magic Internet Money (MIM) Stablecoin Depegs Amid Insolvency FUD

Magic Internet Money (MIM) Stablecoin Depegs Amid Insolvency FUD

Magic Internet Money (MIM), the native token of the Abracadabra DeFi platform, is the latest stablecoin to lose its peg as crypto markets unwind. MIM, which is the 42nd largest stablecoin by market capital, has dropped 7% in the past 24 hours, and is trading around $0.9456. The de-pegging comes amid a sharp decline in The post Magic Internet Money (MIM) Stablecoin Depegs Amid Insolvency FUD appeared first on CoinGape.

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