Executive Summary
KAU depegged twice in one day on $399.63M. USDT reversed $85M after a $861M week. USDS accelerated to +$406M. PSI 94.3, BEDROCK, median safety C.
PSI holds at 94.3 in BEDROCK, severity 0.31, breadth 6.27, trend inching upward by 0.85 , the kind of reading that looks like tranquility until you notice 7 of the rated coins sit below B and the median safety score across the ecosystem is a C.
The actual news today is a resolved one: KAU printed two depegs within hours of each other, 1015 bps and 783 bps on a $399.63M float, and KAG hit 605 bps on $329.84M before recovering , a tokenized gold trifecta of volatility that made XAUT's quiet $7.07M single-day outflow look almost dignified. XAUT has a B- safety score and 71 on liquidity; the gold alternatives apparently needed all 14 hours to remember what their peg was. Meanwhile USDS added $405.99M yesterday alone and is accelerating into a week where USDT reversed direction with a $85M single-day drain after adding $860.63M across seven days , two of the three largest flows in the market pointing opposite directions on the same morning.
USDT at $183.60B remains immovable as a fact and unreassuring as a B+, while USDC also drained $68.20M yesterday after a $818.56M weekly run. Something changed in the last 24 hours for both giants simultaneously. USDS, rated B at 70, apparently did not get the memo.