A peg is a mechanism, not an observed certainty#
A stablecoin can trade away from its reference value when redemption is restricted, market liquidity is thin, reserves are questioned or operational access is interrupted. The size and duration of a deviation matter more than the label alone.
Reserve disclosure and redemption are different checks#
A reserve report can describe assets and liabilities at a stated date, while redemption terms explain who can convert, at what minimum size, through which entity and under what delays or fees. Neither item alone describes secondary-market liquidity.
Market prices need venue and time context#
A temporary quote on one venue may reflect local order-book depth rather than the entire arrangement. Compare timestamps, trading pairs, venue coverage and the issuer's current redemption status before interpreting a depeg claim.
Sources and references#
Use these direct research and official references to verify definitions, scope and limitations.
- High-level Recommendations for Global Stablecoin Arrangements — Financial Stability Board
- Financial Stability Report, April 2024 — Board of Governors of the Federal Reserve System
Key principles#
Check the legal claim
Identify the issuer, holder rights, eligible redeemers and the jurisdiction governing the arrangement.
Check reserve quality
Look for asset composition, custody, maturity, concentration, reporting date and independent assurance limits.
No token instruction
MarketPulse does not turn a peg deviation, reserve report or redemption notice into an instruction to acquire or dispose of a token.