Stablecoin Depeg History & Recovery
See which stablecoins stray from $1, how long the gaps last, and whether they return.
FRAX has the lowest available quote at $0.9923, 0.774% below $1. 7 of 8 quoted tokens are within 0.15% of a dollar. A price near $1 does not tell us whether reserves or withdrawals are sound.
Eight prices. One dollar.Latest available quotes
FRAX: brief slip or lasting gap?
Distance from $1$1 referenceWithin 0.15% of $1
Each point is one daily observation, not the day’s lowest price.
Charlie’s viewFRAX was at least half a cent below $1 on 89 of 90 available daily readings in this 90-day window. It was at least half a cent above on 0. The gaps between observations are not measured.
90/90Daily readings found
0Readings within 0.15% of $1
89Readings below $0.995
0Readings above $1.005
Which gaps lasted?
Charlie’s viewFRAX was at least half a cent below $1 on 296 of 364 available dates. A small discount that keeps returning is different from a short, sharp drop. Compare both before treating today’s price as the whole story.
| Token | History found | Below $0.995 | Above $1.005 | Lowest gap | Longest run below $0.995 |
|---|---|---|---|---|---|
| USDT | 364 / 365 days | 0 readings | 0 readings | -0.213% | 0 readings |
| USDC | 364 / 365 days | 0 readings | 0 readings | -0.119% | 0 readings |
| DAI | 364 / 365 days | 0 readings | 0 readings | -0.238% | 0 readings |
| FRAX | 364 / 365 days | 296 readings | 0 readings | -3.280% | 86 readings |
| TUSD | 364 / 365 days | 4 readings | 0 readings | -0.559% | 1 readings |
| USDe | 364 / 365 days | 2 readings | 0 readings | -1.619% | 2 readings |
| FDUSD | 364 / 365 days | 1 readings | 1 readings | -0.516% | 1 readings |
| USDD | 364 / 365 days | 0 readings | 0 readings | -0.289% | 0 readings |
The last 365 completed calendar dates. A run counts consecutive daily readings, not continuous hours. Missing history is not a clean record.
Back near $1, or still away?
Crossing back inside 0.15% of a dollar ends an observed gap here. That is a return near $1, not proof that every holder could redeem at $1.
| Token | Observed gaps | Returned near $1 | Still away at last reading | Outcome unclear |
|---|---|---|---|---|
| USDT | 0 | 0 | 0 | 0 |
| USDC | 0 | 0 | 0 | 0 |
| DAI | 0 | 0 | 0 | 0 |
| FRAX | 3 | 1 | 1 | 1 |
| TUSD | 2 | 2 | 0 | 0 |
| USDe | 1 | 1 | 0 | 0 |
| FDUSD | 2 | 2 | 0 | 0 |
| USDD | 0 | 0 | 0 | 0 |
A gap starts at least 0.5% above or below $1. An outcome stays unclear when a day is missing or the price jumps to the opposite side. A record can begin after the gap already started.
Explore the individual gaps
| Token | First observed | Direction | Readings | Outcome |
|---|---|---|---|---|
| TUSD | 2026-08-01 Start observed | discount | 33 | Returned near $1 2026-09-02 |
| FRAX | 2026-05-11 Start unknown | discount | 121 | Still away at last reading |
| FRAX | 2026-03-01 Start observed | discount | 70 | Outcome unclear |
| USDe | 2026-01-31 Start observed | discount | 3 | Returned near $1 2026-02-02 |
| FDUSD | 2025-11-19 Start observed | discount | 21 | Returned near $1 2025-12-09 |
| TUSD | 2025-11-14 Start observed | discount | 20 | Returned near $1 2025-12-03 |
| FDUSD | 2025-11-05 Start observed | premium | 2 | Returned near $1 2025-11-06 |
| FRAX | 2025-11-02 Start observed | discount | 119 | Returned near $1 2026-02-28 |
One coin, or several at once?
Charlie’s viewAt least two tracked tokens were 0.5% below $1 on 7 of 364 dates with two or more token readings. At least two were 0.5% above on 0 dates. The directions matter: a premium on one token is not the same problem as a discount on another.
| Date | Tokens below $0.995 | Tokens above $1.005 | Tokens with readings |
|---|---|---|---|
| 2026-08-01 | FRAX, TUSD | None | 8 |
| 2026-02-01 | FRAX, USDe | None | 8 |
| 2026-01-31 | FRAX, USDe | None | 8 |
| 2025-11-25 | FRAX, TUSD | None | 8 |
| 2025-11-19 | FRAX, FDUSD | None | 8 |
| 2025-11-17 | FRAX, TUSD | None | 8 |
| 2025-11-14 | FRAX, TUSD | None | 8 |
Showing the 12 most recent shared-gap dates, if available. This comparison does not establish that trouble spread from one token to another.
Did Bitcoin and Ether follow?
Look at what followed the observed gap, then remove the coin behind the most cases. A result that changes direction is a weak basis for a trading claim.
Bitcoin, three days later
-1.19%
Average across 6 separate completed windows. The middle result was -3.12%.
Without dates involving FRAX: -2.91% across 4 windows.
Ether, three days later
-3.55%
Average across 6 separate completed windows. The middle result was -5.50%.
Without dates involving FRAX: -4.64% across 4 windows.
Dollar returns from the observation date’s daily close to three days later. Overlapping windows are left out. These are past outcomes, not evidence that stablecoin gaps caused them or will predict them.
The next connectionBoth average directions survive removing those dates. But we still need an ordinary-period comparison before calling this unusual. Check stablecoin supply next: did balances also shrink around the same dates, or was this only a price gap?
See the dates behind these returns
| From | To | Token | Bitcoin return | Ether return | Without FRAX |
|---|---|---|---|---|---|
| 2025-11-02 | 2025-11-05 | FRAX | -6.10% | -12.42% | Excluded |
| 2025-11-14 | 2025-11-17 | TUSD | -2.44% | -2.55% | Included |
| 2025-11-19 | 2025-11-22 | FDUSD | -7.45% | -8.45% | Included |
| 2026-01-31 | 2026-02-03 | USDe | -3.80% | -8.90% | Included |
| 2026-03-01 | 2026-03-04 | FRAX | +10.61% | +9.67% | Excluded |
| 2026-08-01 | 2026-08-04 | TUSD | +2.06% | +1.35% | Included |
Ask Charlie about this desk▾
Compare the eight tracked tokens, ask about their dollar gaps, or choose a period. Prices alone cannot tell us which token is safest.
For supply and the wider stablecoin market, continue to Stablecoin Intelligence.