Blockchain
USX Stablecoin Stabilizes After Brief Depeg Triggered by DEX Sell Pressure
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USX, a Solana-native US dollar-pegged stablecoin, briefly traded below its peg on decentralized exchanges early Friday after heavy sell pressure overwhelmed available liquidity on Orca and Raydium, prompting issuer Solstice Finance to step in with liquidity support.
In an X post on Friday, PeckShieldAlert showed USX briefly trading as low as $0.10 in secondary markets before rebounding, a move attributed to isolated trades executed during a period of extremely thin liquidity.
Aggregated DEX data shows a less extreme move. A…
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