Stablecoin Depeg

What it is

If a major stablecoin trades above or below $1.00 on Coinbase spot — you know in seconds.

Why it matters

A stablecoin trading away from $1 changes the value of everything denominated against it: AMM pools holding it rebalance toward the cheap side, and loans collateralised by it move closer to their liquidation thresholds. The size of the deviation is what separates ordinary spread from a structural break.

How to read the alert

0.5% is the threshold that fires the alert; ordinary venue spread on a major stablecoin sits well inside it. A deviation of several percent means the market is pricing redemption risk rather than thin liquidity. The positions exposed to it are the predictable ones — AMM pools that hold the stable, and loans that post it as collateral or denominate the debt in it. The alert reports the venue and the exact price, so the deviation can be checked at its source.

Sample alert

⚠️ STABLECOIN DEPEG: USDC

Price: $0.9928 (-0.72% below $1)
Source: coinbase

ℹ️ Information only, not financial advice.

Each alert includes

• Which stablecoin, and its price on Coinbase spot
• The size of the deviation from $1.00
• The direction — above or below the peg
• The venue the price was read from