Another stablecoin “got rid” of the dollar

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The stablecoin HUSD, announced by the Huobi Global exchange, has lost its peg to the US dollar (the rate has deviated from $1). On August 18, the asset traded at $0.83, which is 16% below the required rate. According to Coingecko, on August 19, the coin recovered to $1.

Market participants claim that the instability is related to information about the sale of the crypto exchange. Owner Leon Li intends to sell a controlling stake, as he expects stagnation in the cryptocurrency market.