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MIM algorithmic stablecoin loses $1 peg
Jun 12, 2026
< 1 min read
by Hannah Collymore
for CryptoPolitan
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AI Overview
On June 12 Abracadabra's MIM stablecoin slid as low as $0.87 across multiple chains and was flagged for a depeg on Arbitrum, inflicting a sharp reputation and valuation hit. The incident highlights systemic risk for algorithmic dollar tokens when liquidity dries up and raises short-term market and DeFi concerns for lending, DEX liquidity and broader adoption.
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Abracadabra’s MIM stablecoin took a major reputation and valuation hit today June 12 as it fell as low as $0.87 across multiple chains. The dollar-pegged token’s slide adds to a growing list of algorithmic dollar tokens that have failed to hold their $1 target when liquidity dried up. The depeg on Arbitrum was flagged by...
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In This News
Coins
$ 0.182
+40.9%$ 0.0841
+8.91%$ 0.000223
-1.78%Funds
Predictions Markets
See what traders are focused on
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