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QiDao’s miMATIC Stablecoin Trades at About 86 Cents
The Polygon-based token is roughly 14% below its $1 peg, with the depeg continuing on Sept. 23.
QiDao’s miMATIC stablecoin is trading at approximately $0.86 on Polygon, putting it about 14% below its $1 peg as the deviation continues.
The token’s market price has moved well below the dollar level it is intended to track. At $0.86, miMATIC is 14 cents short of its reference price.
The ongoing depeg marks a sharp break from miMATIC’s dollar target. The token remains under pressure as of Sept. 23, with no recovery to the $1 level indicated in the supplied market update.
