ME News reports that on June 12 (UTC+8), according to Blockaid monitoring, the algorithmic stablecoin MIM has depegged on Arbitrum. MIM is currently trading at approximately $0.91 to $0.92 on executable routes due to insufficient or imbalanced liquidity in Arbitrum liquidity pools. On-chain data shows MIM’s current prices across multiple chains at approximately $0.871–$0.874, representing an 11% decline over the past 24 hours. (Source: Foresight News)
Algorithmic stablecoin MIM departs from 1:1 peg, trades at ~$0.87
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Summary
The algorithmic stablecoin MIM lost its 1:1 peg on June 12 (UTC+8), trading at approximately $0.871–$0.874 across chains, according to Blockaid. The de-peg on Arbitrum followed liquidity imbalances in its pools. MIM declined 11% within 24 hours. Liquidity remains a key concern for algorithmic models. Altcoins to monitor may include those with similar mechanisms.
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