🔻 Fall of stablecoin USDR
Backed by real estate and a mix of cryptocurrencies, the stablecoin USDR has lost ground against the US dollar. The reason for this happened was the withdrawal of DAI from the treasury of this project, which caused USDR to drop to $0.53. This stablecoin is issued by the Tangle protocol, a decentralized finance project that tokenizes real estate. Despite the 50 percent price drop, the project's developers have promised to come up with solutions to the problem, saying it was only due to a liquidity problem that temporarily challenged redemptions. Despite this, the official website of this application announced that its assets are worth more than the entire market size of this cryptocurrency.
Source: Cointelegraph