$70M in Fresh On-Chain USDC Positions at Risk of Liquidation if Stablecoin Depegs by 10%

$70M in Fresh On-Chain USDC Positions at Risk of Liquidation if Stablecoin Depegs by 10% Traders using decentralized finance (DeFi) protocols to bet on a USDC revival over the weekend are at risk of eight-figure liquidations if the stablecoin loses its $1 peg again this week.