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USX stablecoin unexpectedly decoupled in the secondary market, dropping to $0.80 at one point. It seems to be caused by liquidity exhaustion.
Interestingly, the collateralization ratio remains above 100%, so theoretically, 1:1 redemption should still operate normally. The question is—who is actually selling off, or is there a problem somewhere? It feels like there might be more than just market panic involved; it’s also important to see where the liquidity gap actually occurred.