• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

Kava Network’s USDX stablecoin captures the “depeg-to-earn” trend.

192
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Trend Inscription has spread to Fantom and Avalanche, transaction fees have skyrocketed

Trend Inscription has spread to Fantom and Avalanche, transaction costs have skyrocketed

November 23, 2023
Layer-2 Blast requires $20 million in capital, aiming to raise interest rates for ETH and stablecoin holders

Layer-two Blast necessitates $twenty million in capital, aiming to increase curiosity prices for ETH and stablecoin holders

November 21, 2023

Kava Network’s USDX decentralized stablecoin just dropped off the $ one cost zone. According to information from Coinecko, the coin’s marketplace cap is hovering all over $ 115 million.

Kava Network's USDX stablecoin follows the trend "depeg-to-earn"
Kava Network’s USDX stablecoin captures the “depeg-to-earn” trend.

USDX fell in the $ .fifty five zone on Wednesday and is at this time hovering all over $ .65.

The motive for this depeg is nevertheless unknown. Unlike algorithmic stablecoins like UST, Kava’s USDX can be minted towards a secured loan.

As explained by Twitter from Kava Labs, the group behind this stablecoin, USDX has misplaced its anchor due to its direct backlinks to UST, the stablecoin that has rocked the marketplace a short while ago. UST accounts for the vast majority of USDX collateralization (along with other assets this kind of as Kava, Cosmos, Bitcoin, or Ether), which is element of the motive for the currency’s latest volatility.

Scott Stuart, co-founder and CEO of Kava Labs mentioned:

“USDX is not the FSO and USDX is expected to return to its original anchor zone.”

Mr. Stuart also extra that Kava has isolated the dangers that UST can have an effect on the UST program, even even though UST depeg is inherently a important chance for quite a few of the protocols concerned.

Synthetic currency 68

Maybe you are interested:

Maybe you are interested:

Tags: CapturesdepegtoearnKavaNetworksstablecointrendUSDX
Share77Tweet48

Related Posts

Meta Rejects Bitcoin Reserve Proposal, Market Remains Unfazed

by shark
June 3, 2025
0

Meta shareholders reject Bitcoin reserve proposal, impacting market reactions and future financial strategies.

U.S. Senate Prepares to Vote on GENIUS Stablecoin Act

by shark
June 3, 2025
0

The GENIUS stablecoin bill could face a Senate vote this week, impacting U.S. and global crypto markets.

Michael Saylor’s Strategy Acquires 705 Bitcoin for $75 Million

by shark
June 3, 2025
0

Strategy led by Michael Saylor buys 705 Bitcoin worth $75 million, boosting long-term BTC strategy.

Ethereum Completes Pectra Upgrade Amid Technical Advancements

by shark
June 3, 2025
0

Ethereum's Pectra upgrade launched, enhancing staking capabilities and Layer 2 scalability.

Strategy Increases Bitcoin Holdings to Nearly 581,000 BTC

by shark
June 2, 2025
0

Strategy acquires 705 BTC for $75.1 million, boosting total holdings to 580,955 BTC as of June 2, 2025.

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • Meta Rejects Bitcoin Reserve Proposal, Market Remains Unfazed
  • U.S. Senate Prepares to Vote on GENIUS Stablecoin Act
  • Qubetics Tezos and Avalanche Named Top Crypto to Invest in for Short Term After UK Crypto News
  • Michael Saylor’s Strategy Acquires 705 Bitcoin for $75 Million
  • Ethereum Completes Pectra Upgrade Amid Technical Advancements
  • Strategy Increases Bitcoin Holdings to Nearly 581,000 BTC
  • Ethereum Inflows Surge as Bitcoin, XRP See Outflows
  • Qubetics Sells 514M Tokens in the Top Crypto Presale Race as Arweave and Stellar Move Slowly
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7