Apyx stablecoin apxUSD depegs, falls to $0.94

Apyx's synthetic dollar stablecoin, apxUSD, has depegged and fallen to $0.94, Spot On Chain reported. The stablecoin is issued against preferred shares of Strategy's (MSTR) STRC and Strive's (ASST) SATA as underlying assets. Spot On Chain warned that the drop in BTC's price has lowered the collateral value of apxUSD, adding that a rush of withdrawals by holders could lead to further depegging.