The value of multiple stablecoins—DAI, USDC, USDD, and FRAX—unexpectedly dropped below 95 cents together; despite some regains, their value is still not pegged.
Describe DAI USDC USDD & FRAX
DAI, USDC, USDD, and FRAX are all US dollar-pegged stablecoins. DAI is a product of the Maker Protocol; USDC is developed by Circle, along with Coinbase; while USDD is from the TRON DAO; and FRAX is from the Frax Protocol.
DAI is among top 20, and USDC is among top 5 cryptos in the market, while USDD is among top 60, Frax is in top 50.
Is This Dollar effect?
Some people believe that there is a subliminal message warning of the fall of the dollar, as multiple countries are now doing business in currencies other than the US dollar.