⚠️ $USDX stablecoin depegs hard USDX by StablesLabs (market cap ~$680M) has dropped as low as $0.40 before slightly recovering. The crash followed the Balancer exploit and a wave of massive market liquidations. 🧩 What happened: The Balancer V2 hack caused ~$1M liquidity loss for StablesLabs. As panic spread, capital fled DEXs and lending markets, leading to sharp outflows from delta-neutral strategies. USDX, similar to the recently collapsed XUSD from Stream Finance, got caught in the cascade. Borrow rates spiked above 800%, looping positions unwound, and thin liquidity amplified the depeg. The price has swung between $0.40–$0.80, now hovering near $0.60, with uncertainty whether redemptions are still active. If halted, it could confirm deeper undisclosed losses – if not, a big arbitrage window may open for verified market makers. What do you think – can USDX recover its peg or is this another stablecoin collapse? ⚡️ Temporary depeg 🔥 Full collapse