USDC Stablecoin Momentarily Depegs to $0.74 on Binance

The 2% market depth on Binance for the USDC/USDT pair is skewed to the upside, with $26 million in orders stacked up to $1.02 and $6.1 million in orders stacked down to $0.98, according to CoinMarketCap. This means that when a trader makes a sell order larger than $6.1 million, the price would fall below $0.98. There was $6.2 million worth of volume at 12:10 UTC followed by $4.3 million at 12:21 UTC.

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