21,219 Upbit Investors Bought JPYC Above Peg, Spending 259.8B Won
- —21,219 investors bought JPYC on Upbit above its peg, spending 259.8 billion won
- —11,449 buyers paid 3–4x the reference price, totaling 85.4 billion won
- —3,792 holders as of Sept. 21 showed unrealized losses of about 5.03 billion won
- —7,006 of the 21,219 investors sold JPYC at a profit, averaging 453,687 won
Why it matters: The episode highlights the risks of listing stablecoins on exchanges with thin liquidity, where prices can detach sharply from par value.
Source: CoinDesk Japan