Bitcoin (iBTC) on Cardano Depegs, Here's What Happened

$BTC on the Cardano network experienced a brief depeg from the main asset, and some experienced traders took advantage

A unique strategy has emerged in the wake of this situation. Some market participants mint iBTC at the liquidation ratio of 110% and then promptly sell the minted iBTC on a DEX, locking in substantial profits. As long as the price difference remains above 5%, there is profit to be made, even considering possible liquidations.

However, this strategy is not without risks. There is a time gap between minting iBTC, selling it, potentially getting liquidated and then restarting the process. While it is an open market and price discrepancies can yield profits, caution is advised.

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