USDX Stablecoin Suffers Dramatic De-Pegging, Plunging 25%

In a significant event that has shaken the cryptocurrency community, StablesLab’s USDX stablecoin has experienced a severe de-peg. This marks a drastic departure from its intended value of $1.00, dropping to around $0.7484 in a dramatic 24-hour plunge. Blockchain security firm PeckShield first reported this alarming development. Experts believe the sudden devaluation could indicate underlying issues within the stablecoin’s algorithm or market confidence.