The stablecoin USX on the Solana chain recently experienced a liquidity crisis. After a large amount of liquidity was withdrawn, USX instantly depegged in the secondary market, with the price dropping to $0.1 at one point, causing holders to break out in cold sweat. The good news is that the crisis did not last too long. After SolsticeFi injected liquidity in a timely manner, the price of USX gradually recovered and eventually stabilized around $0.94, essentially returning to its normal peg. This incident also serves as a reminder to investors — the depth of liquidity for stablecoins is crucial to their price stability. Even on high-speed blockchains like Solana, liquidity depletion can trigger chain reactions in an instant.
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ForkPrince
· 12-26 06:39
Where's the promised "stability" of this stablecoin? It suddenly plummeted to 0.1 haha
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MEVEye
· 12-26 06:26
$0.1? Damn, this move is so exciting. Luckily, I intervened in time or I would have gone bankrupt.
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ApeEscapeArtist
· 12-26 06:25
0.1 dollar? Oh my god, I just vomited. That's why I never touch small-cap stablecoins.
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SchroedingerGas
· 12-26 06:14
0.1 to 0.94, this roller coaster ride is really intense, almost thought USX was going to fail
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AirdropworkerZhang
· 12-26 06:12
$0.1 haha, directly slashed to the floor price, luckily reacted quickly or it would have cooled off.
The stablecoin USX on the Solana chain recently experienced a liquidity crisis. After a large amount of liquidity was withdrawn, USX instantly depegged in the secondary market, with the price dropping to $0.1 at one point, causing holders to break out in cold sweat. The good news is that the crisis did not last too long. After SolsticeFi injected liquidity in a timely manner, the price of USX gradually recovered and eventually stabilized around $0.94, essentially returning to its normal peg. This incident also serves as a reminder to investors — the depth of liquidity for stablecoins is crucial to their price stability. Even on high-speed blockchains like Solana, liquidity depletion can trigger chain reactions in an instant.