• 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

Wave of stablecoin de-peg spreads – Kava Network’s USDX is the most recent title

204
SHARES
1.6k
VIEWS
Share on FacebookShare on Twitter

Related articles

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
Paxos releases new USD-backed stablecoin in Singapore

Paxos releases new USD-backed stablecoin in Singapore

November 16, 2023

Kava Network’s USDX decentralized stablecoin just dropped off the $ one selling price zone. According to information from Coinecko, the coin’s industry cap is hovering all around $ 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 presently hovering all around $ .65.

The cause for this depeg is nonetheless 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 industry not long 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 portion of the cause for the currency’s current volatility.

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

“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 hazards that UST can impact the UST procedure, even even though UST depeg is inherently a main threat for several of the protocols concerned.

>> See much more: Dramatic scene in between Waves and Alameda

In addition to UST, USDN is a title that has also deviated from the USD one zone not long ago. Before that, USDN also had a depeg phase, owning had Dramas with the Alameda investment fund.

Synthetic currency 68

Maybe you are interested:

Maybe you are interested:

Tags: depegKavaLatestNetworksspreadsstablecoinUSDXwave
Share82Tweet51

Related Posts

Finternet Drives Investment with Institutional Support

by shark
June 26, 2025
0

Institutional backing fuels Finternet development, bolstering crypto investments with a $4.9B influx in Q1 2025.

GameStop Raises $450M in New Zero-Interest Notes

by shark
June 26, 2025
0

GameStop Corp. has announced a $450 million raise via zero-interest convertible senior notes due in 2032, aimed at enhancing its...

Trump Criticizes Fed Chair Powell, Calls Him ‘Very Stupid’

by shark
June 26, 2025
0

Donald Trump critiques Fed Chair Jerome Powell, impacting financial discourse without immediate crypto market shifts.

Polymarket Secures $200M Funding, Achieves $1B Valuation

by shark
June 26, 2025
0

Polymarket, a decentralized prediction market, is valued at $1 billion after a $200 million funding round amidst regulatory scrutiny and...

Moca Network Launches Moca Chain for Decentralized Identity

by shark
June 26, 2025
0

Moca Network unveils Moca Chain, a Layer 1 blockchain for decentralized identity management.

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

  • Finternet Drives Investment with Institutional Support
  • GameStop Raises $450M in New Zero-Interest Notes
  • Trump Criticizes Fed Chair Powell, Calls Him ‘Very Stupid’
  • Polymarket Secures $200M Funding, Achieves $1B Valuation
  • Moca Network Launches Moca Chain for Decentralized Identity
  • Bitcoin Soars to $108,000 Amid High-Leverage Trading
  • Ankr Migrates RPC Services to Private Network
  • A Comprehensive Comparison of Qubetics ($TICS), Polygon, and Bitcoin – Top Crypto Presale Opportunities
  • 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