Algorithmic stablecoin MIM slips its 1:1 peg, drops to about $0.87

ME News said Blockaid monitoring flagged a depeg in the algorithmic stablecoin MIM on Arbitrum on June 12 (UTC+8). Due to thin or uneven liquidity across Arbitrum pools, executable routes show MIM trading around $0.91–$0.92. On-chain data indicates prices across multiple chains at roughly $0.871–$0.874, down about 11% over the past 24 hours. (Source: Foresight News)