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BitcoinSistemi 2025-01-01 18:05:07

Surprise Stablecoin Temporarily Loses Its $1 Stablecoin Stability as a Single Whale Makes a Massive Sale

Surprise Stablecoin Temporarily Loses Its $1 Stablecoin Stability as a Single Whale Makes a Massive Sale

Usual Protocol faced a significant stress test today after a single whale transaction on the secondary market triggered a massive sell-off in its stablecoin USD0. The incident caused USD0 to briefly drop to $0.99 before quickly re-establishing its peg at $1 with some minor basis point deviations due to ongoing selling pressure. Chart showing USD0 losing its peg to $1. According to the Usual Protocol team, the sell-off occurred today, raising concerns about the USD0 peg. Related News: Chinese Analyst Reveals: “In January, This Binance-Listed Altcoin Could See Huge Interest” “This was our first major stress test of the USD0 peg with more redemptions than the entire TVL of GHO in just a few hours, but it was still business as usual,” the team said. Usual Protocol touched on the historical strength of the USD0 peg, noting that it provides higher stability compared to other stablecoins such as FDUSD, PYUSD or USDe, which often trade below their $1 peg. “The Usual infrastructure and model have proven robust. The peg has returned to normal and there is now ample instant liquidity for arbitrage,” the team added. *This is not investment advice. Continue Reading: Surprise Stablecoin Temporarily Loses Its $1 Stablecoin Stability as a Single Whale Makes a Massive Sale

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