Stablecoin USX briefly depegged due to liquidity withdrawal, later recovering to $0.94
Foresight News reported, according to monitoring by PeckShield, the stablecoin USX on the Solana chain experienced a temporary depegging in the secondary market due to liquidity being withdrawn, with its price dropping to $0.1. Subsequently, after Solstice injected liquidity, the price of USX recovered to $0.94.
Previously, Solstice tweeted that the underlying net asset value (NAV) and custodial backing assets of USX on the Solstice side were not affected, and the collateralization ratio remained above 100%. The team stated that this price fluctuation was solely a secondary market liquidity issue, and the 1:1 redemption function in the primary market remains open.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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