A sudden and dramatic price spike on Bithumb saw the stablecoin USDC soar to a remarkable 6,120 won before swiftly correcting. This unprecedented surge highlights the volatility inherent in even seemingly stable assets like USDC. Market analysts attribute this unusual fluctuation to several potential factors, including technical glitches in trading algorithms, large mistaken market orders, liquidity issues during low-volume periods, and possible manipulation attempts. Fortunately, the price jump was short-lived, quickly returning to a normal trading range near 1,503 won. 6,120 won represented more than four times its typical trading value. The question of how stablecoins maintain their peg is crucial in understanding this incident. While USDC’s intended stability is achieved through asset backing, redemption mechanisms, market arbitrage, and the fast action of arbitrage traders to correct price discrepancies when imbalances occur, these insights provide a greater insight into the world of cryptocurrency.