Executive Summary
apxUSD's discount went from 69 to 102 bps on $298.45M as DEWS ALERT coins rose to seven from four. Next trigger: a one-day DAI supply move of $35M.
apxUSD trades at $0.990, 102 bps below peg on $298.45M of market cap, against 69 bps in the previous edition. The event is 31 hours old and peaked at 140 bps. DEWS moved the coin from CALM to WATCH at a score of 19, on cross-source divergence. Its Safety Score is F (26), with reasons including an unstructured reserve slice, a missing oracle profile and unresolved control identity.
Two smaller chronic depegs also moved further from par. Metronome's msUSD, whose September break traced to oracle-latency underbacking, sits 1,702 bps below peg at $0.830 on $42.59M, against 1,404 bps in the previous edition. Alpha Partner's USDA trades at $0.914, 860 bps under peg on $79.13M, from 790. pmUSD holds at $0.576, 4,244 bps below peg on $51.20M, with no material change.
DEWS raised its ALERT count to seven from four while WARNING emptied, leaving $226.96M of supply at ALERT or above after 40 band changes. Among the listed ALERT coins, wM has the highest score, 47, driven by liquidity erosion and price confidence. PSI reads 87.8 against 88.1 yesterday, an eighth STEADY day; USDf, 55 bps below peg on $1.82B, is its largest severity contributor.
USDT supply is $2.97B lower over seven days at $177.26B, 7% under its 26 April record; its separate velocity series puts the latest day at -$1.81M. EURC net minted $9.54M over 24 hours, a pressure score of 100. DAI lost $26.15M on the day within $44.72M on the week, the only accelerating series among six listed. A $35M DAI day, about $9M past this print, would turn that contraction from drift into rotation.