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the stablecoin USX on the Solana chain experienced a temporary depegging in the secondary market due to liquidity being withdrawn, with its price dropping to $0.1.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.