Solana-based stablecoin USX briefly depegs

The Solana-based stablecoin USX depegged due to a lack of liquidity, blockchain security firm PeckShield reported. The stablecoin briefly plummeted to $0.10 but has since recovered to $0.98. The Solstice team stated that USX's underlying and custodial assets were unaffected and that the stablecoin maintains a 100% collateralization ratio. The team attributed the incident to liquidity issues on secondary markets, such as exchanges, and said it plans to work with market makers to continuously supply liquidity to stabilize the market.