The Solana on-chain USX stablecoin briefly de-pegged to $0.1 due to a liquidity crunch, but recovered to $0.94 after liquidity was injected.

2025-12-282025-12-26 by admin

PANews reported on December 26 that, according to PeckShield, the stablecoin USX on Solana experienced a sharp drop in liquidity, falling to $0.1 on the secondary market. After an emergency injection of funds from Solstice, it has since recovered to $0.94. The Solstice team emphasized that USX assets remain over 100% collateralized, and its net asset value has not been affected.

PANews reported on December 31 that Tom Lee, co-founder of Fundstrat and chairman of BitMine, wrote on the X platform: "Typically, during these last holiday trading sessions, many institutional investors exit the market, and algorithmic trading programs and bot trading programs begin to dominate the market, along with sell-offs for tax avoidance. These constitute the market dynamics in the last few days of December." Previously, in BitMine's announcement of acquiring 44,463 ETH last week, Tom Lee mentioned that market activity tends to slow down as the year enters its final weeks of holiday season. Year-end tax-avoidance selling depresses cryptocurrency and cryptocurrency-related stock prices, with this effect typically most pronounced between December 26th and December 30th; therefore, they are adjusting their market strategy accordingly. Earlier today, it was reported that Bitmine pledged another 118,944 ETH and increased its holdings by 32,938 ETH .