Huobi Global to Delist HUSD — Stablecoin Slips Below $1 Parity to $0.89
On Thursday, the cryptocurrency exchange Huobi Global announced that the trading platform plans to delist the stablecoin HUSD and the delisting will begin at 08:00 (UTC) on October 28, 2022. Furthermore, users with HUSD held on the exchange will see their balances auto-converted to the stablecoin asset tether and the exchange expects to complete the full conversion by November 4. Huobi Global Reveals Plans to Delist HUSD and Auto-Convert Balances to Tether, HUSD Stablecoin Drops Below $1 Peg Following Announcement Huobi is set to delist the stablecoin HUSD according to an update from the....
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After Huobi Global announced that it would be delisting the stablecoin HUSD and auto-converting customer balances 1:1 with tether tokens, the stablecoin asset has dropped significantly in value sliding to a low of $0.72 per unit. HUSD Remains Below the $1 Peg Another stablecoin is struggling to maintain parity with the U.S. dollar as HUSD has slipped from the $1 peg to $0.746 per unit on Oct. 30, 2022. At the time of writing, the stablecoin token is exchanging hands for $0.765 per unit and there’s only $59,790 in global trade volume during the past 24 hours. Two days ago, Bitcoin.com News....
The stablecoin HUSD, originally associated with the crypto exchange Huobi Global, lost its peg with the U.S. dollar on Wednesday, August 17, and it dropped even lower in value the following day on Thursday, August 18. On Thursday, Huobi addressed the public on Twitter and the exchange said “we are aware of the current liquidity issues associated with the HUSD stablecoin.” Market data shows HUSD slid to a low of $0.827 per unit on Thursday.
** Editors Note: The last paragraph of this article was edited in order to reflect HUSD’s rebound to $0.99 per unit at....
The crypto financial services company Huobi and the firm’s stablecoin issuer Stable Universal have published monthly HUSD attestation reports. The audits indicate the funds that back Huobi’s stablecoin are kept in cash in U.S. money market accounts in order to ensure the 1:1 ratio with USD. HUSD Monthly Attestations On Thursday, more than $117 billion is held in stablecoin protocols and the ninth-largest stablecoin in terms of market valuation, Huobi’s HUSD, represents over $498 million. Out of today’s $68 billion in global stablecoin trade volume, Coingecko’s....
The HUSD team explained that the depeg was caused as they closed market maker accounts in some regions to comply with regulations. After recovering the HUSD stablecoin’s dollar peg, crypto exchange Huobi explained what had caused the short-term liquidity problem and assured users that it had been resolved. On Thursday, HUSD started to fall from its dollar value, trading at $0.92 at the start of the day and falling as low as $0.82 a few hours later. This alarmed community members, who speculated what mig happen if the stablecoin doesn’t recover its dollar peg. HUSD was once one of the....
PRESS RELEASE. IOST, an enterprise-grade, decentralized, and ultra-fast network oiled with the Proof-of Believability consensus algorithm, is integrating the HUSD stablecoin, according to an announcement on 13 Jan 2021. HUSD is a safe and secure dollar-pegged stablecoin issued by Stable Universal Limited. Notably, IOST is the first batch of Public Blockchains to support HUSD. To celebrate this milestone, the two companies are giving away 35k HUSD exclusively for IOST users. The announcement highlights HUSD’s integration as a significant milestone for IOST to build its growing....