ChartModo logo ChartModo logo
Crypto Potato 2025-12-26 20:01:58

Solana Stablecoin USX Plummets to $0.10 in Depeg Amid Liquidity Crunch

The USX stablecoin on Solana lost its dollar peg on December 26, collapsing to just $0.10 on secondary markets. This sudden drop, caused by a severe lack of liquidity, marks one of the most extreme depegs for a major stablecoin this year. Market Strain and Rapid Response According to blockchain security firm PeckShield, which raised an alert about the event, the depeg was a direct result of a liquidity drain on trading platforms. The stablecoin’s developer, Solstice, responded quickly. In a statement posted on X, the team confirmed the issue was isolated to secondary markets, noting that the funds backing USX in its primary system were “entirely unaffected and >100% collateralized.” They emphasized that 1:1 redemptions through their primary market remained operational. The situation stabilized after Solstice and its market makers injected fresh liquidity, pulling the price back to approximately $0.94. Despite this recovery, the brief crash established a new all-time low of $0.8285 for USX, as recorded by CoinGecko. The stablecoin has since returned near its $1.00 target, currently trading around $0.995. While the 24-hour price change shows only a minor 0.3% decline, the dramatic intraday swing from $0.8285 to a high of $1.01 highlights the volatility triggered by the liquidity shortfall. A Recurring Challenge for Algorithmic Stablecoins This incident is a reminder of the persistent fragility of certain stablecoin designs when faced with secondary market pressures. It echoes other significant depegs in 2025; for example, the one in April where Synthetix’s sUSD stablecoin fell below $0.70 following protocol changes that altered its collateral mechanics. At the time, founder Kain Warwick darkly joked about the situation by renaming his social account to “kain.depeg.” More recently in November, Stream Finance’s XUSD stablecoin crashed to $0.30 after the protocol revealed a $93 million loss from an external fund manager. The USX event differs in that its underlying collateral was not compromised, framing it purely as a secondary market liquidity failure. Meanwhile, Solstice has committed to obtaining a third-party attestation report, in what some market observers believe is an attempt to rebuild trust. However, for investors and the wider crypto community, these repeated events serve as a stark reminder of the risks that remain even in stablecoins backed by verifiable assets, where market structure can sometimes fail before the fundamentals do. The post Solana Stablecoin USX Plummets to $0.10 in Depeg Amid Liquidity Crunch appeared first on CryptoPotato .

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta