Whale’s Bold USDT Play: Betting Big on USDX Recovery After Stablecoin Loses Peg
In a dramatic turn of events, Stables Labs' USDX stablecoin lost its dollar peg, plummeting to $0.3887 on November 7, 2025. A crypto whale seized the opportunity, purchasing 933,241 USDX for 800,000 USDT at an average price of $0.8572 shortly after the drop. This bold move mirrors the whale's previous acquisition of 1.4 million USDX during an earlier depeg event. Both positions were submitted for redemption, potentially yielding $135,000 in profits. The whale's aggressive bet highlights the high-risk, high-reward nature of stablecoin arbitrage and underscores the volatility in the crypto markets. This development could signal growing confidence in USDX's recovery or a strategic play to capitalize on market dislocations. As stablecoins continue to play a pivotal role in crypto finance, such large-scale maneuvers by whales will remain a key metric for market sentiment and potential price trajectories.
Whale Bets $800K on USDX Recovery After Stablecoin Loses Peg
Stables Labs' USDX stablecoin plummeted to $0.3887 today, losing its dollar peg in a sharp devaluation. On-chain data reveals a whale capitalized on the dislocation, purchasing 933,241 USDX for 800,000 USDT at an average price of $0.8572 shortly after the drop.
The same address had acquired 1.4 million USDX during a previous depeg event. Both positions were submitted for redemption—a move that WOULD yield $135,000 in profits if honored. However, the latest redemption remains pending for over three hours, raising questions about liquidity mechanisms.
Market observers note this marks the second major USDX depeg in a week. The stablecoin's inability to maintain parity during volatility contrasts with its design mandate, potentially undermining confidence in algorithmic stabilization models.
Cathie Wood Revises Bitcoin Price Target to $1.2M Amid Stablecoin Surge
Ark Invest CEO Cathie Wood has adjusted her long-term Bitcoin price forecast downward to $1.2 million by 2030, citing the unexpected rise of stablecoins as a disruptive force in crypto adoption. The revised target represents a $300,000 reduction from her previous $1.5 million projection.
Stablecoins like Tether and USD Coin are increasingly supplanting Bitcoin's anticipated role in emerging markets, particularly for payments and wealth preservation. Countries experiencing hyperinflation or capital controls—Venezuela and Argentina among them—are witnessing rapid adoption of dollar-pegged alternatives.
Wood maintains bullish conviction on Bitcoin's store-of-value thesis but acknowledges stablecoins' faster-than-expected scaling for transactional use cases. This recalibration reflects crypto's evolving utility spectrum, where different asset classes capture distinct market needs.
Bitcoin Breaks Below $100K as Market Sentiment Sours
Bitcoin's retreat below the $100,000 threshold has intensified a week-long downturn, wiping billions from the crypto market's valuation. The asset now trades at $99,678—a 0.75% daily drop and 9% monthly decline—marking its weakest position in three weeks. Macroeconomic jitters and profit-taking have eroded October's rally, with institutional inflows failing to offset liquidations and risk-off sentiment.
Ethereum mirrors the slump at $3,223 (down 1.14%), while solana bears deeper wounds with a 19% monthly plunge to $151.45. Even stablecoins like Tether, holding firm at $1.00, reflect the market's defensive posture as total crypto capitalization shrinks to $2.9 trillion.
