The HUSD stablecoin has depegged to $0.96 and is yet to recover its dollar parity after the Huobi exchange recently announced that it would delist HUSD trading pairs.
Huobi’s dollar-pegged stablecoin HUSD has broken away from its $1 peg again following the delisting of a number of trading pairs of the token on the Huobi exchange. The stablecoin is currently standing at $0.97 and has fallen from its $1 peg for the last 12 hours.
While not as severe as the depeg that occurred in August 2022 when it hit $0.85, it’s still yet another negative incident for the stablecoin.
HUSD is an ERC-20 stablecoin and is collateralized on a 1:1 ratio with USD held in Paxos-owned U.S. bank accounts. It was designed to club four stablecoins — Paxos Standard (PAX), True USD (TUSD), USD Coin (USDC), and Gemini Dollars (GUSD) — into one that could be traded across Huobi.
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