Another crypto stablecoin is struggling to maintain parity with the U.S. dollar as $HUSD has slipped from the $1 peg.
HUSD on Oct. 19, 2018, the exchange disassociated itself from the stablecoin token this year.
HUSD depegged earlier this year, when it dropped to a low of $0.82 per HUSD on Aug. 18. HUSD also slipped below the $1 parity on Oct. 11 and again on Oct. 28. HUSD tapped an all-time low on Oct. 29, roughly 24 hours ago when it reached $0.725 per unit on Saturday. When the stablecoin slipped below the $1 peg in August, Huobi addressed the problem via Twitter.
“We are aware of the current liquidity issues associated with the HUSD stablecoin, which is issued by Stable Universal Limited and built on the Ethereum network,” Huobion Aug. 18. Furthermore, at that time, HUSD’s official Twitter account tweeted about closing several market maker accounts. “Recently, we had made the decision to close several accounts in specific regions to comply with legal requirements, which included some market maker accounts,” the HUSD Twitter accounton the same day. “Due to the time difference in banking hours, this resulted in a short-term liquidity problem but has since been resolved.”
The official HUSD Twitter account, at least as of Oct. 30, 2022, at 9:30 a.m. , has not tweeted or made any statements since the Aug. 18 tweet when HUSD first started to depeg from the U.S. dollar.What do you think about the stablecoin HUSD slipping well below the $1 parity? Let us know what you think about this subject in the comments section below.Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida.