HUSD Stablecoin Depegs Again After Delisting From Trading Pairs

HUSD has depegged its price from $1 for the last 12 hours after delisting some trading pairs on Huobi’s exchange.

Huobi has broken the HUSD’s Peg $1 to $0.96 after the announcement of delisting HUSD trading pairs. At the time of writing, this stablecoin is standing at $0.97. (Coincu)

HUSD Is an ERC-20 stablecoin pegged to USD with a 1:1 ratio based on U.S. bank accounts. This is the group for 4 stablecoins that are exchanged on Huobi platform, including Paxos Standard (PAX), True USD (TUSD), USA Coin (USDC), and Gemini Dollars (GUSD).

In August, Huobi faced the same incident, when its price decreased to $0.85. Huobi has not given comments on this issue.

Since the crash of TerraUSD, depeggings are a serious concern of the market that can create price fluctuation in the short-term, and ripple the downwards trend in the market.

On Oct.10, Huobi proclaimed the delisting of some trading pairs of HUSD on its exchange platform. It may be the reason for the loss of depegged price today.

In the same scenario, Binance also announced its delisting of some trading pairs related to popular trading coins. Currently, the HUSD stablecoin is standing at $0.96 with a trading volume of over $800,000.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Ken

CoinCu News