Stablecoin HUSD has lost its peg to the US dollar forever

After withdrawing from the Huobi exchange, the stablecoin HUSD and the US dollar lost their 1:1 parity forever.

Another stablecoin that has no function in the cryptocurrency market

Last week, Huobi exchange reported that it was excluding the stablecoin HUSD from its trading platform for all cryptocurrency pairs.

Since then, token pegs below par -2% have fallen and lost nearly -70% of their market value.

At the time of writing, the stablecoin is priced at $0.32.

This is the lowest value of the stablecoin since its launch in 2018, but commercialization did not begin until Huobi officially partnered with Paxos in 2019.

Huobi is now exchanging HUSD tokens for Tether dollars (USDT), which will further limit the use of stablecoins.

In April of this year, Huobi announced the termination of participation in the HUSD token and is currently ending its use on the exchange platform.

Source of information: Compiled from BITNOTICIAS by 0x information.The copyright belongs to the author Jorge Siufi and may not be reproduced without permission

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