Commonality in stablecoin depegging

초록

Major fiat-collateralized stablecoins, including USDT and USDC, are frequently deviated from the USD peg, and their depegging fluctuations are correlated. The principal component analysis shows that there exists a single dominant common component, which accounts for 68% of the depegging variation. Additional regression results indicate that the unknown common component is associated negatively with (1) Treasury yield and market illiquidity and (2) prices of native tokens to popular blockchain platforms for stablecoin issuers (i.e. Ethereum and Tron). © 2026 Informa UK Limited, trading as Taylor & Francis Group.

키워드