The USX stablecoin briefly slipped below its dollar peg on Solana DEXs before recovering after its issuer injected liquidity into secondary markets.
USX, a Solana-native US dollar-pegged stablecoin, briefly traded below its peg on decentralized exchanges early Friday after heavy sell pressure overwhelmed available liquidity on Orca and Raydium, prompting issuer Solstice Finance to step in with liquidity support.
In an X post on Friday, PeckShieldAlert showed USX briefly trading as low as $0.10 in secondary markets before rebounding, a move attributed to isolated trades executed during a period of extremely thin liquidity.
Aggregated DEX data shows a less extreme move. A 15-minute USX/USD chart from GeckoTerminal’s Orca pool shows USX dipping to about $0.80, reflecting where most trading volume occurred, before recovering and stabilizing near $0.99 as liquidity returned.
