The HUSD stablecoin has fallen to 28 cents, significantly losing its dollar peg after it was delisted by HuobiGlobal last week. Reporting by oknightcrypto.
Huobi said that users can still exchange HUSD tokens for Tether , the industry's largest stablecoin by market cap.
Stablecoins are designed to mirror the value of other assets, typically fiat currencies like the Dollar, Sterling or Euro. The stablecoin sector was shaken up earlier this year following theHUSD, which is issued by Stable Universal, alsoTron founder Justin Sun has taken up a senior role at Huobi in recent weeks and one of the immediate changes he is making is shifting volume to his own stablecoin, USDD.
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