USDX Falls to $0.3887 as Whale Buys Over 900K Tokens

USDX Falls to $0.3887 as Whale Buys Over 900K Tokens

A whale lost $458K in two weeks after depositing funds into USDXmoney, with withdrawals failing following Stream Finance's $93M loss disclosure.

USDX

Fact Check
The statement is strongly supported by a consensus of multiple, high-relevance sources. The core claims—that USDX's price fell to $0.3887 and that a single entity purchased over 900,000 tokens concurrently—are explicitly and consistently corroborated. The primary source is an on-chain analytics firm (Lookonchain), which holds high authority for this type of data. Multiple secondary sources, including crypto exchanges and news outlets (Phemex, Bitget, Odaily, Blockchain.news), independently report the same specific details, including the exact price and the purchase amount of 933,241 tokens by whale address 0xe454. The amount of 933,241 tokens directly supports the claim of "over 900,000 tokens." Several sources also explicitly credit Lookonchain, creating a clear and verifiable information trail. The irrelevant sources provided either lacked specific details about this event or were completely off-topic. There is no conflicting evidence among the relevant sources, leading to a high degree of confidence in the statement's accuracy.
Summary

On Nov. 7, Lookonchain reported that a whale lost $458,000, or 74%, in just 14 days after depositing $621,000 into USDXmoney. The loss followed Stream Finance's Nov. 4 announcement of a $93 million deficit. The whale attempted to withdraw funds, but they remain trapped, underscoring USDX’s ongoing redemption and liquidity challenges.

Terms & Concepts
  • USDX: A stablecoin intended to maintain a 1 USD peg, though it can deviate under market pressure.
  • Redemption: The process of exchanging crypto tokens for their underlying asset or equivalent value.