Stablecoin HUSD Continues to Trade Below $1 Parity as Token Taps an All-Time Low at $0.72

After Huobi Global announced that it would be delisting the stablecoin HUSD and auto-converting customer balances 1:1 with tether tokens, the stablecoin asset has dropped significantly in value sliding to a low of $0.72 per unit. HUSD Remains Below the $1 Peg Another stablecoin is struggling to maintain parity with the U.S.

Timeline of Husd

On Thursday, the cryptocurrency exchange Huobi Global announced that the trading platform plans to delist the stablecoin HUSD and the delisting will begin at 08:00 (UTC) on October 28, 2022.

According to a statement from Huobi Global, trading in its HUSD stablecoin will cease and the token will be delisted on Friday. Following the delisting, Huobi users' HUSD holdings will be changed into USDT at a 1:1 ratio, the exchange said, adding that it anticipates the conversion to be finished by Nov.

Huobi Global will delist the virtual asset HUSD and is planning to convert the assets to USDT. HUSD in Another Headline The native stablecoin of Houbi Global, HUSD, will be delisted and will convert all HUSD holdings to USDT.

HUSD, a centralized stablecoin issued by Hong Kong-based Stable Universal, has fallen below its intended dollar peg. The post HUSD loses dollar peg after Huobi's delisting of 21 trading pairs appeared first on The Block.

The HUSD stablecoin has depegged to $0.96 and is yet to recover its dollar parity after the Huobi exchange recently announced that it would delist HUSD trading pairs. The post HUSD Stablecoin Depegs Again Following Huobi Delisting HUSD Trading Pairs appeared first on BeInCrypto.