Cryptocurrency exchange Huobistablecoin of HUSD, after delisting 72 percentexperienced a decline.
Cryptocurrency market stablecoin The domino effects on the ‘s continue. After the Terra crisis, TerraUSD ( TOP ) has signaled its collapse, sanctions and regulation. Cryptocurrency investors are starting to lose confidence in stablecoins. After the developments, many stablecoin services lost blood. Especially HUSD, repeatedly 1 dollar out of its stability. Popular exchange Huobi, October 28on HUSDannounced that he had delisted his service.
HUSD Joins Caravan of Collapsing Stablecoins
Popular exchange Huobi garnered reactions after delisting the HUSD stablecoin from the exchange. According to the statement from the stock market, investors HUSDtheir USDTthey can replace it with.
Issued by Stable Universal, HUSD has been around since the beginning of this year. peg is having serious difficulties. These problems, which further increased the loss of confidence of investors, mobilized the stock market.
After the Delist decision, the price of HUSD 0.3 dollars decreased to levels. The stablecoin, which was supposed to be pegged at $1, fell 72 percent. Investors are waiting for their HUSDs to be converted to USDT by the exchange.
According to the allegations, Justin Sun, who plays a senior role in Huobi, may have an influence. Allegedly, Sun wants to attract volume to its stablecoin, USDD.
