Algorithmic stablecoin MIM slips below $1 on liquidity constraints

Huo Xing Finance, citing Blockaid monitoring, said the algorithmic stablecoin MIM has broken its peg on Arbitrum. On executable trading routes, MIM is changing hands around $0.91–$0.92, with pricing pressured by insufficient or uneven liquidity across Arbitrum pools. On-chain data shows MIM prices across multiple chains at about $0.871–$0.874, down roughly 11% over the past 24 hours.