The post BullZilla Dominates 2025 as the Leader of the Best Crypto Presale Under $1 appeared on BitcoinEthereumNews.com. Every bull market brings new champions, and 2025 is no exception. A fresh generation of tokens is transforming how investors approach digital wealth, combining DeFi innovation, transparency, and robust community engagement. From meme-inspired ecosystems to advanced staking models, the best crypto presales under $1 are producing tomorrow’s 100x projects. These coins are not just speculative plays; they’re structured experiments in sustainable tokenomics, investor inclusivity, and long-term growth. As presales like BullZilla, MoonBull, and La Culex surge in popularity, the line between entertainment and financial innovation continues to blur. For forward-looking investors, this evolving landscape marks a defining moment to identify early opportunities that could reshape portfolios before the next bull rally peaks. At the center of this surge is BullZilla ($BZIL) , a groundbreaking meme-coin presale that blends humor, scarcity, and advanced DeFi mechanics. Designed with a Progressive Price Engine and measurable ROI potential, it rewards early adopters through rising stage prices and transparent tokenomics. Each milestone in its “Castle Bravo” phase system triggers growth, reinforcing scarcity while driving long-term value. Its HODL Furnace offers up to 70% APY, and verified smart contracts ensure investor safety through locked liquidity and automatic burns. Backed by a vibrant global community and over $1 million raised, BullZilla stands as the flagship of innovation and sustainability in 2025. For investors chasing structure and explosive upside, it’s the clear leader of early-stage crypto opportunities. BullZilla ($BZIL): The Titan Leading the Best Crypto Presale Under $1 BullZilla is at Stage 10, “Castle Bravo,” Phase 2, priced at $0.00025239, with $1M+ raised, 31B tokens sold, and 3,500+ holders. Its Progressive Price Engine increases token value by 2.64% at each $100,000 milestone, creating a fair yet high-reward structure. The HODL Furnace offers 70% APY staking, and the Roarblood Vault enhances rewards for community referrals. As reported by CoinDesk,… The post BullZilla Dominates 2025 as the Leader of the Best Crypto Presale Under $1 appeared on BitcoinEthereumNews.com. Every bull market brings new champions, and 2025 is no exception. A fresh generation of tokens is transforming how investors approach digital wealth, combining DeFi innovation, transparency, and robust community engagement. From meme-inspired ecosystems to advanced staking models, the best crypto presales under $1 are producing tomorrow’s 100x projects. These coins are not just speculative plays; they’re structured experiments in sustainable tokenomics, investor inclusivity, and long-term growth. As presales like BullZilla, MoonBull, and La Culex surge in popularity, the line between entertainment and financial innovation continues to blur. For forward-looking investors, this evolving landscape marks a defining moment to identify early opportunities that could reshape portfolios before the next bull rally peaks. At the center of this surge is BullZilla ($BZIL) , a groundbreaking meme-coin presale that blends humor, scarcity, and advanced DeFi mechanics. Designed with a Progressive Price Engine and measurable ROI potential, it rewards early adopters through rising stage prices and transparent tokenomics. Each milestone in its “Castle Bravo” phase system triggers growth, reinforcing scarcity while driving long-term value. Its HODL Furnace offers up to 70% APY, and verified smart contracts ensure investor safety through locked liquidity and automatic burns. Backed by a vibrant global community and over $1 million raised, BullZilla stands as the flagship of innovation and sustainability in 2025. For investors chasing structure and explosive upside, it’s the clear leader of early-stage crypto opportunities. BullZilla ($BZIL): The Titan Leading the Best Crypto Presale Under $1 BullZilla is at Stage 10, “Castle Bravo,” Phase 2, priced at $0.00025239, with $1M+ raised, 31B tokens sold, and 3,500+ holders. Its Progressive Price Engine increases token value by 2.64% at each $100,000 milestone, creating a fair yet high-reward structure. The HODL Furnace offers 70% APY staking, and the Roarblood Vault enhances rewards for community referrals. As reported by CoinDesk,…

BullZilla Dominates 2025 as the Leader of the Best Crypto Presale Under $1

2025/11/16 11:50

Every bull market brings new champions, and 2025 is no exception. A fresh generation of tokens is transforming how investors approach digital wealth, combining DeFi innovation, transparency, and robust community engagement. From meme-inspired ecosystems to advanced staking models, the best crypto presales under $1 are producing tomorrow’s 100x projects. These coins are not just speculative plays; they’re structured experiments in sustainable tokenomics, investor inclusivity, and long-term growth. As presales like BullZilla, MoonBull, and La Culex surge in popularity, the line between entertainment and financial innovation continues to blur. For forward-looking investors, this evolving landscape marks a defining moment to identify early opportunities that could reshape portfolios before the next bull rally peaks.

At the center of this surge is BullZilla ($BZIL) , a groundbreaking meme-coin presale that blends humor, scarcity, and advanced DeFi mechanics. Designed with a Progressive Price Engine and measurable ROI potential, it rewards early adopters through rising stage prices and transparent tokenomics. Each milestone in its “Castle Bravo” phase system triggers growth, reinforcing scarcity while driving long-term value. Its HODL Furnace offers up to 70% APY, and verified smart contracts ensure investor safety through locked liquidity and automatic burns. Backed by a vibrant global community and over $1 million raised, BullZilla stands as the flagship of innovation and sustainability in 2025. For investors chasing structure and explosive upside, it’s the clear leader of early-stage crypto opportunities.

  1. BullZilla ($BZIL): The Titan Leading the Best Crypto Presale Under $1

BullZilla is at Stage 10, “Castle Bravo,” Phase 2, priced at $0.00025239, with $1M+ raised, 31B tokens sold, and 3,500+ holders. Its Progressive Price Engine increases token value by 2.64% at each $100,000 milestone, creating a fair yet high-reward structure. The HODL Furnace offers 70% APY staking, and the Roarblood Vault enhances rewards for community referrals. As reported by CoinDesk, BullZilla blends “meme energy with institutional-grade tokenomics.” A $3,000 investment today equals 11.88M tokens, potentially worth $62,637 at its $0.00527 listing, offering over 1,988% ROI and up to 4,289% for early participants. Hence, BullZilla is leading the best crypto presale under $1.

Secure your spot in the BullZilla presale today, where every early dollar could multiply into tomorrow’s most significant crypto success.

Frequently Asked Questions About BullZilla

What is the current BullZilla Presale Price?

The BullZilla Presale Price is currently $0.00025239 in Stage 10, “Castle Bravo,” Phase 2, with a 2.64% increase expected soon as it advances toward $0.00025906 in the upcoming phase.

What’s the BullZilla Presale Price Prediction?

Analysts predict the BullZilla presale price could reach $0.00527 at listing, offering investors potential returns of 1,988% to 4,289%, depending on their entry stage and timing within the ongoing presale cycle.

Will BullZilla Presale be Listed on Coinbase?

While no official date is announced, BullZilla Presale Coinbase listings are expected post-launch, with early decentralized availability on Uniswap, followed by potential Tier-1 exchange listings as liquidity and market demand increase.

  1. Snek ($SNEK): Solana’s Fast-Moving Meme Ecosystem

Snek continues to dominate Solana’s meme coin landscape thanks to its ultra-fast transaction speeds, low fees, and dynamic on-chain liquidity. Designed for viral engagement, Snek merges DeFi functionality with community-led innovation, creating one of Solana’s most active ecosystems. Solscan data reveals steady whale accumulation and deep integration across decentralized exchanges, underscoring its strength and investor confidence. With its growing cultural relevance, analysts describe Snek as “the beating heart of Solana’s meme movement,” uniting humor, speed, and financial agility. In the best crypto presale under $1 category, Snek’s appeal lies in its accessibility and scalability, a token that embodies the balance between meme energy and serious blockchain performance in 2025’s fast-evolving market.

  1. MoonBull ($MOBU): The Staking Revolution of Meme Finance

MoonBull ($MOBU) has emerged as a powerful contender among meme-based DeFi projects, fusing humor with high-performance functionality. Operating on Ethereum, it features reflections, auto-liquidity, and a 23-stage scarcity model that progressively reduces token supply to enhance value. With an impressive 95% APY staking and verified smart contracts, MoonBull ensures security, transparency, and long-term sustainability. Its AI-driven staking optimizer dynamically redistributes yields, maintaining consistent returns even during market volatility. According to Messari, MoonBull “represents the next evolution of meme-fi, structured, rewarding, and scalable.” Backed by community governance and expanding cross-chain potential, MoonBull stands as one of the best crypto presales under $1, combining creativity, reliability, and lasting investor appeal.

Frequently Asked Questions About MoonBull

What makes MoonBull’s staking system unique?

MoonBull’s AI staking optimizer adjusts yield distribution automatically, maintaining stable returns for holders even during volatile markets while enhancing liquidity and long-term token sustainability.

Why is MoonBull considered a next-generation meme project?

MoonBull merges meme culture with DeFi functionality, offering verified contracts, strong staking rewards, and real value growth, making it one of the most structured and rewarding meme coins of 2025.

  1. La Culex ($CULEX): Engineering Safety and Yield Together

La Culex ($CULEX) combines meme culture with sustainable DeFi mechanics, offering a structured tokenomics model designed for long-term growth. With a total supply of 200 billion, the allocation includes 45% for presale, 20% for liquidity locked for 18 months, and 15% for staking rewards. The project’s Hive Vault delivers an impressive 80% APY, while a 12% referral system via the Bite Chain strengthens community engagement and investor expansion. Backed by zero transaction tax, verified audits, and transparent liquidity, La Culex has become a trusted choice among the best crypto presales under $1. According to CoinMarketCap, it “sets a benchmark for presale safety and scalability,” bridging entertainment with real economic utility in 2025’s evolving meme-finance sector.

Frequently Asked Questions About La Culex

How does La Culex ensure long-term sustainability for investors?

La Culex’s locked liquidity for 18 months, combined with zero tax and audited contracts, protects holders from volatility while sustaining value appreciation across its 32 presale stages. This structure encourages steady, organic price growth over time.

Why do analysts consider La Culex a secure and rewarding presale?

Analysts praise La Culex for combining transparency with lucrative rewards, offering 80% APY staking and 12% referral bonuses. Its audit-backed design and deflationary mechanism create a rare mix of profitability and trust within the meme coin sector.

  1. Apeing ($APE): Fueling the Next Social DeFi Surge

Apeing ($APE) is redefining community-led finance through its powerful blend of DeFi innovation and social engagement. Designed to reward early adopters, it features a transparent presale structure that includes referral bonuses, staking incentives, and seamless DEX integration. The project bridges the worlds of NFTs and influencer-led marketing, creating a DeFi-social hybrid that resonates with retail investors and digital creators alike. Apeing’s ecosystem encourages user participation and viral growth, supported by community governance and expanding partnerships across blockchain media platforms. Positioned among the best crypto presales under $1, Apeing aims to democratize financial participation by transforming social influence into tangible on-chain value, embodying the true spirit of next-generation decentralized communities.

Frequently Asked Questions About Apeing

How does Apeing reward early participants?

Apeing offers referral rewards, high-yield staking programs, and early-buyer advantages that strengthen its ecosystem while promoting long-term community-driven token growth and utility across decentralized exchanges.

What makes Apeing stand out among DeFi-social hybrids?

Apeing merges NFT integration, influencer marketing, and transparent governance, positioning itself as a unique community-powered ecosystem built for viral adoption and sustainable on-chain financial participation.

  1. TRON ($TRX): Powering the Stablecoin Economy

Under Justin Sun’s leadership, TRON ($TRX) continues to solidify its position as a cornerstone of blockchain payments and stablecoin transfers. Processing over 2 million transactions daily, TRON’s high throughput, low fees, and decentralized architecture make it indispensable to the global DeFi ecosystem. Its expanding developer community and cross-chain integrations have transformed TRON into a vital payment infrastructure for USDT, USDC, and other stable assets. According to CoinDesk, TRON’s network efficiency and consistent innovation position it as a “backbone of stable-value blockchain transactions.” In 2025, as stablecoin adoption grows, TRON’s role as a reliable, scalable, and cost-effective payment layer continues to strengthen its presence among the best crypto presales under $1 category.

  1. Cardano ($ADA): Research-Driven Blockchain Stability

Cardano ($ADA) continues to uphold its reputation as one of the most research-driven and academically grounded blockchain networks in the crypto industry. Powered by its Hydra scaling solution, Cardano is projected to achieve up to 1 million transactions per second (TPS), setting a new benchmark for scalability and efficiency. With more than 60% of its total ADA supply staked, the platform showcases exceptional community trust and decentralization. Analysts at Chainalysis refer to Cardano as “the quiet architect of blockchain longevity,” emphasizing its patient, methodical approach to development. Its ongoing smart contract advancements, interoperability efforts, and focus on peer-reviewed innovation keep Cardano firmly positioned as a foundational asset among the best crypto presales under $1 for 2025.

  1. Chainlink ($LINK): Data Feeds Powering Global DeFi

Chainlink ($LINK) continues to dominate as the core oracle network of the Web3 ecosystem, seamlessly connecting real-world data with decentralized applications. Its Cross-Chain Interoperability Protocol (CCIP) enables secure and scalable data exchange across multiple blockchains, bridging traditional finance and DeFi. Strategic collaborations with major institutions like SWIFT and DTCC underscore its growing enterprise adoption. As smart contracts expand into insurance, supply chain, and banking, Chainlink’s role in verifying and transmitting trusted data becomes indispensable. With new integrations and staking utilities driving demand, analysts at Messari project LINK’s long-term relevance to strengthen throughout 2025. Despite trading in the best crypto presale under $1 during the early phases, Chainlink remains an undervalued pillar of decentralized connectivity.

  1. Apecoin ($APE): The DAO of NFT Utility

Apecoin ($APE) serves as the driving force behind the Yuga Labs ecosystem, powering iconic metaverse ventures like Otherside while bridging blockchain innovation with real-world brand collaborations. As a governance token, it enables community-led decision-making through the ApeCoin DAO, fostering transparency and decentralized growth. Its expanding ecosystem integrates NFTs, gaming, and DeFi elements, creating a dynamic digital economy that appeals to both institutional and retail investors. With growing partnerships across entertainment, fashion, and technology, Apecoin stands at the crossroads of culture and crypto. Analysts from CoinDesk describe it as “the financial engine of Web3 creativity.” Positioned within the best crypto presales under $1, Apecoin continues to lead the evolution of metaverse-driven utility and mainstream blockchain adoption.

  1. Mog Coin ($MOG): Community-First Meme Energy

Mog Coin ($MOG) is revolutionizing the meme coin space by transforming social engagement into a fully functional on-chain economy. Its innovative X-based tipping system allows users to send micro-rewards directly on social media, merging entertainment with digital finance. This model creates real-world utility, turning viral interactions into value-generating transactions. With a decentralized infrastructure, consistent liquidity injections, and an expanding user base, Mog Coin goes beyond typical meme speculation. According to Messari, it “sets the blueprint for social finance,” blending culture with DeFi participation. Positioned among the best crypto presales under $1, Mog Coin stands as a community-powered project proving that social influence can evolve into sustainable, utility-backed financial ecosystems in the next crypto wave.

From BullZilla’s calculated growth to MoonBull’s AI-powered staking and La Culex’s deflationary model, the best crypto presales under $1 are redefining decentralized finance in 2025. These projects blend humor, innovation, and transparent economics to create sustainable ecosystems where early investors thrive. BullZilla, in particular, represents the evolution of meme coins into structured wealth-building systems, driven by its progressive price engine and 70% APY HODL Furnace. As its next 2.64% surge approaches, joining early could secure exponential returns before wider exposure. In a market favoring agility and conviction, every dollar invested in BullZilla’s presale today has the potential to become a fortune tomorrow, proving that smart timing still defines crypto success.

Join the BullZilla presale today; every cent invested now could become the dollar that defines your 2025 gains.

For More Information: 

BZIL Official Website

Join BZIL Telegram Channel

Follow BZIL on X  (Formerly Twitter)

Disclaimer: This is a paid post and should not be treated as news/advice. LiveBitcoinNews is not responsible for any loss or damage resulting from the content, products, or services referenced in this press release.

Source: https://www.livebitcoinnews.com/bullzilla-dominates-2025-as-the-leader-of-the-best-crypto-presale-under-1/

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A review of major stablecoin de-pegging events over the past five years: a triple test of mechanism, trust, and regulation.

A review of major stablecoin de-pegging events over the past five years: a triple test of mechanism, trust, and regulation.

Author: Viee, a core contributor to Biteye *The full text is approximately 5000 words, and the estimated reading time is 13 minutes. Over the past five years, we have witnessed stablecoins de-pegging in multiple scenarios. From algorithms and high-leverage designs to the chain reaction of real-world bank failures, stablecoins are undergoing one trust rebuild after another. In this article, we attempt to connect several landmark stablecoin de-pegging events in the crypto industry between 2021 and 2025, analyze the underlying causes and impacts, and explore the lessons learned from these crises. The First Avalanche: The Collapse of Algorithmic Stablecoins If there was one crash that first shook the narrative of "algorithmic stablecoins," it was IRON Finance in the summer of 2021. At that time, the IRON/TITAN model on Polygon became a viral sensation. IRON is a partially collateralized stablecoin: partly backed by USDC and partly backed by the value of the governance coin TITAN through an algorithmic dependency. As a result, when large TITAN sell orders made the price unstable, large holders began to sell, triggering a chain reaction of bank runs: IRON redemptions → minting and selling more TITAN → TITAN collapse → IRON stablecoin further lost its anchoring ability. This is a classic "death spiral": Once the price of the internal assets that are being supported and anchored plummets, the mechanism will have little room for repair and will eventually decouple and return to zero. On the day TITAN collapsed, even prominent American investor Mark Cuban was not spared. More importantly, it made the market realize for the first time that algorithmic stablecoins are highly dependent on market confidence and internal mechanisms, and once confidence collapses, it is difficult to prevent a "death spiral." Collective disillusionment: LUNA returns to zero In May 2022, the cryptocurrency world witnessed the largest stablecoin crash in history, with Terra's algorithmic stablecoin UST and its sister coin LUNA both collapsing. UST, then the third-largest stablecoin with a market capitalization of $18 billion, was once considered a successful example of algorithmic stablecoins. However, in early May, UST experienced a massive sell-off on Curve/Anchor, gradually falling below $1 and triggering a sustained run on the exchange. UST quickly lost its 1:1 peg to the US dollar, and its price plummeted from nearly $1 to less than $0.3 within days. To maintain the peg, the protocol issued a large amount of LUNA to redeem UST, resulting in a subsequent collapse in the price of LUNA. In just a few days, LUNA plummeted from $119 to near zero, wiping out nearly $40 billion in market value. UST dropped to a few cents, and the entire Terra ecosystem vanished within a week. It can be said that LUNA's demise made the entire industry truly realize for the first time: Algorithms themselves cannot create value; they can only allocate risk. The mechanism is highly susceptible to entering an irreversible spiral structure under extreme market conditions; Investor confidence is the only trump card, and it's the easiest to fail. This time, global regulators have for the first time included "stablecoin risks" in their compliance considerations. The United States, South Korea, the European Union, and other countries have successively imposed strict restrictions on algorithmic stablecoins. It's not just the algorithm that's unstable: the ripple effects of USDC on traditional finance. With numerous problems in the algorithm model, are centralized, 100% reserve stablecoins truly risk-free? In 2023, the Silicon Valley Bank (SVB) scandal erupted when Circle admitted to holding $3.3 billion in USDC reserves with SVB. Amid market panic, the USDC briefly de-pegged to $0.87. This incident was a classic example of "price de-pegging": short-term payment capability was questioned, triggering a market sell-off. Fortunately, this de-pegging was only a brief panic, and the company quickly issued a transparent announcement, promising to cover any potential shortfall with its own funds. Ultimately, the USDC was able to re-peg after the Federal Reserve announced its decision to protect deposits. It is clear that the "anchor" of stablecoins is not only reserves, but also confidence in the liquidity of reserves. This turmoil also reminds us that even the most traditional stablecoins cannot be completely isolated from traditional financial risks. Once the pegged assets rely on the real-world banking system, their vulnerability is unavoidable. A false alarm of "de-anchoring": The USDE revolving loan crisis Recently, the cryptocurrency market experienced an unprecedented 10/11 crash panic, and the stablecoin USDe was caught in the eye of the storm. Fortunately, the eventual de-pegging was only a temporary price deviation and did not indicate a problem with its internal mechanism. USDe, issued by Ethena Labs, once ranked among the top three in global market capitalization. Unlike USDT and USDC, which have equivalent reserves, USDe uses an on-chain Delta-neutral strategy to maintain its peg. Theoretically, this "long spot + short perpetual" structure can withstand volatility. In practice, this design has proven stable in calm markets and allows users to earn a basic annualized return of 12%. On top of the already well-functioning mechanism, some users have spontaneously developed a "revolving loan" strategy: pledging USDe to borrow other stablecoins, then exchanging them back for more USDe to continue pledging, layering leverage, and using lending protocol incentives to increase annualized returns. Until October 11th, a sudden negative macroeconomic event occurred in the US: Trump announced high tariffs on China, triggering panic selling in the market. During this process, the USDe's stable peg itself did not suffer systemic damage, but due to a combination of factors, a temporary price deviation occurred: On the one hand, some users used USDe as margin for derivatives, and due to extreme market conditions triggering contract liquidation, a large amount of selling pressure appeared in the market. At the same time, the "revolving loan" structure with leverage on some lending platforms also faced liquidation one after another, further exacerbating the selling pressure on stablecoins. On the other hand, due to on-chain gas issues during the withdrawal process of exchanges, the arbitrage channel was not smooth, and the price deviation after the stablecoins were de-pegged could not be corrected in time. Ultimately, multiple mechanisms collapsed simultaneously, causing a brief market panic. USDe briefly fell from $1 to around $0.6 before recovering. Unlike some "asset failure" type de-anchoring incidents, the assets in this event did not disappear; the temporary imbalance in the anchoring was caused by factors such as macroeconomic headwinds, liquidity constraints, and liquidation paths. Following the incident, the Ethena team issued a statement clarifying that the system was functioning normally and that collateral was sufficient. Subsequently, the team announced it would strengthen monitoring and increase the collateral ratio to enhance the liquidity pool's capacity. Aftershocks continue: a chain reaction of sell-offs in xUSD, deUSD, and USDX. The aftershocks of the USDe incident had not yet subsided when another crisis erupted in November. USDX is a compliant stablecoin launched by Stable Labs, which complies with EU MiCA regulatory requirements and is pegged 1:1 to the US dollar. However, around November 6th, the price of USDX quickly fell below $1 on-chain, plummeting to as low as about $0.3, instantly losing nearly 70% of its value. The trigger was the depegging of xUSD, a yield-generating stablecoin issued by Stream, due to its external fund manager reporting approximately $93 million in asset losses. Stream immediately suspended deposits and withdrawals on its platform, and xUSD quickly fell below its peg during the panic sell-off, dropping from $1 to $0.23. Following the collapse of xUSD, the chain reaction quickly spread to Elixir and its stablecoin deUSD. Elixir had previously lent 68 million USDC to Stream, representing 65% of its total deUSD reserves, with Stream using xUSD as collateral. When xUSD fell by more than 65%, the asset backing of deUSD collapsed instantly, triggering a massive run on the cryptocurrency and causing its price to plummet. The run on the banks didn't stop there. The panic selling then spread to other similar yield-generating stablecoins, such as USDX. In just a few days, the overall market capitalization of stablecoins evaporated by over $2 billion. A protocol crisis ultimately escalated into a liquidation of the entire sector, revealing not only problems with the mechanism design but also demonstrating that the high-frequency coupling between the internal structures of DeFi means that risks are never isolated. The Triple Test of Mechanism, Trust, and Regulation When we look back at the cases of de-anchoring over the past five years, we find a glaring fact: the biggest risk of stablecoins is that everyone assumes they are "stable". From algorithmic models to centralized custody, from yield-generating innovations to composite cross-chain stablecoins, these pegging mechanisms can experience collapses or overnight losses, often due to either design flaws or a breakdown in trust. We must acknowledge that stablecoins are not merely products, but rather a mechanism-based credit structure built upon a series of assumptions that "will not be broken." 1. Not all anchors are reliable. Algorithmic stablecoins often rely on governance token buybacks and minting mechanisms. Once liquidity is insufficient, expectations collapse, and the governance token plummets, the price can fall like dominoes. Fiat reserve stablecoins (centralized): These emphasize "dollar reserves," but their stability is not entirely detached from the traditional financial system. Bank risk, custodian risk, liquidity freezes, and policy fluctuations can all erode the "promise" behind them. Even when reserves are ample but redemption capacity is limited, the risk of de-pegging remains. Yield-based stablecoins: These products integrate yield mechanisms, leverage strategies, or multiple asset portfolios into the stablecoin structure, bringing higher returns but also hidden risks. Their operation relies not only on arbitrage opportunities but also on external custody, investment returns, and strategy execution. 2. The risk transmission of stablecoins is much faster than we imagined. The collapse of xUSD is a classic example of the "contagion effect": when one protocol has a problem, another uses its stablecoin as collateral, and a third designs a stablecoin with a similar mechanism, and all of them are dragged down. Especially in the DeFi ecosystem, stablecoins are collateral assets, counterparties, and liquidation tools. Once the "anchor" is loosened, the entire chain, the entire DEX system, and even the entire strategy ecosystem will be affected and react. 3. Weak supervision: the process of filling the regulatory gaps is still ongoing. Currently, Europe and the United States have successively introduced various draft regulations categorized by type: MiCA explicitly denies the legal status of algorithmic stablecoins, and the US GENIUS Act attempts to regulate reserve mechanisms and redemption requirements. This is a positive trend; however, regulation still faces the following challenges: The cross-border nature of stablecoins makes them difficult for any single country to fully regulate. The model is complex, and there is a high degree of interconnection between on-chain and real-world assets. Regulatory agencies have not yet reached a consensus on its financial and liquidation attributes. Information disclosure is not yet fully standardized. Although on-chain transparency is high, the responsibilities of issuers, custodians, etc. remain relatively vague. Conclusion: Crisis brings opportunities for industry restructuring The crisis of stablecoins de-anchoring not only reminds us of the risks of the mechanism, but also forces the entire industry to move towards a healthier evolutionary path. On the one hand, technology is proactively addressing past vulnerabilities. For example, Ethena is adjusting its collateral ratio and strengthening monitoring in an attempt to hedge against volatility risk through proactive management. On the other hand, industry transparency is also continuously improving. On-chain audits and regulatory requirements are gradually becoming the foundation of the next generation of stablecoins, which helps to enhance trust. More importantly, users' understanding is also evolving. More and more users are beginning to pay attention to the underlying details of stablecoins, such as their mechanisms, collateral structures, and risk exposures. The focus of the stablecoin industry is shifting from "how to grow quickly" to "how to operate stably". After all, only by truly improving risk resistance can we create financial instruments that can truly support the next cycle.
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PANews2025/11/16 14:12