USDP briefly spikes to $1.28, costing an Aave trader $529k
The value of the stablecoin Pax Dollar (USDP), issued by the Paxos Trust Company, experienced a surge to a high of $1.28, triggering the liquidation of $529,000 in USDC for a market participant. Like regular stablecoins, USDP is designed to maintain a stable value equivalent to a U.S. dollar, providing a safe haven for traders against the...