Depeg
German: Depeg (Abweichung vom Referenzwert)
A sustained deviation of a stablecoin market price from its reference value, caused by reserve doubts, redemption friction, collateral stress or thin secondary liquidity.
Why people look this up
Usually searched during or after an incident; readers want mechanism, historical cases and what recovery depended on.
Auf Deutsch
Depeg (Abweichung vom Referenzwert) — Eine anhaltende Abweichung des Marktpreises eines Stablecoins von seinem Referenzwert, ausgelöst durch Zweifel an der Reserve, Rücktauschhürden, Sicherheitenstress oder dünne Sekundärliquidität.
Looking for how this maps to its traditional-finance counterpart rather than a standalone definition? See the Term Bridge, which also flags where the obvious analogy is wrong.