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Another Stablecoin Loses Peg as Algorithm Fails to Keep Pace

  • Deus Finance’s DEI is trading at 70 cents to the dollar
  • Team behind the stablecoin is working to restore the peg
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Deus Finance’s DEI token has lost its 1-to-1 peg to the dollar, becoming the latest failure of an algorithmic stablecoin during a period of crypto market stress.

DEI is currently trading at 70 cents, according to data tracker CoinGecko. With a market value of about $63.5 million, the token is tiny compared with the more than $18 billion TerraUSD stablecoin that shook crypto markets when it become depegged last week.