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The stablecoin USX on the Solana chain recently experienced a liquidity crisis. After a large amount of liquidity was withdrawn, USX instantly depegged in the secondary market, with the price dropping to $0.1 at one point, causing holders to break out in cold sweat. The good news is that the crisis did not last too long. After SolsticeFi injected liquidity in a timely manner, the price of USX gradually recovered and eventually stabilized around $0.94, essentially returning to its normal peg. This incident also serves as a reminder to investors — the depth of liquidity for stablecoins is crucial to their price stability. Even on high-speed blockchains like Solana, liquidity depletion can trigger chain reactions in an instant.
Liquidity is really the key to life, it must be taken seriously
SolsticeFi's rescue came quite timely, or else holders would be crying their eyes out