HUSD Stablecoin Collapses to 28 Cents After Huobi Delisting
Following the Huobi crypto exchange’s decision to delist the HUSD stablecoin last Friday, the asset plummeted from its $1 peg to just 28 cents.
Huobi had actively pushed HUSD since its launch in 2018, but new senior executive Justin Sun has begun shifting volume to his USDD, while users can transfer their holdings to Tether, the largest stablecoin by market cap.
HUSD’s market cap is now just $63 million, down from a record high of over $1 billion last year.
👉@RTnews_unc3 **RT**
Following the Huobi crypto exchange’s decision to delist the HUSD stablecoin last Friday, the asset plummeted from its $1 peg to just 28 cents.
Huobi had actively pushed HUSD since its launch in 2018, but new senior executive Justin Sun has begun shifting volume to his USDD, while users can transfer their holdings to Tether, the largest stablecoin by market cap.
HUSD’s market cap is now just $63 million, down from a record high of over $1 billion last year.
👉@RTnews_unc3 **RT**