There was another issue on the Solana chain. The stablecoin USX experienced a massive withdrawal of liquidity, causing it to temporarily lose its footing in the trading market, with the price dropping to an outrageous $0.1, completely diverging from its $1 peg. This caused holders to break out in cold sweats.

Fortunately, the crisis didn't last too long. Once liquidity providers quickly injected new funds, the USX price gradually stabilized and eventually recovered to around $0.94. Although it hasn't fully returned to $1, it can be considered as having largely mitigated the risk.

This incident once again reminds everyone: the security of on-chain stablecoins depends not only on reserve assets but also on sufficient liquidity. Once secondary market liquidity dries up, even with ample assets, prices can still fluctuate significantly. When participating in DeFi or on-chain trading, it's wise to stay cautious.