Circle · Strategy · Bitcoin · U.S. Treasury · CryptoSlate
A stablecoin tied to Strategy stock depegs putting a new DeFi dollar risk in focus as Bitcoin sells off
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ApxUSD’s slide during Bitcoin’s selloff shows how preferred-share collateral can turn a dollar token into a DeFi risk signal.
Key facts
- Data at the time showed an even wider 24-hour range, from $0.9094 to $0.9984, with apxUSD trading around $0.9176 and volume rising to roughly $74.6 million
- The filing also said Strategy held 843,706 BTC as of May 31 and maintained the STRC dividend rate at 11.50% for monthly periods beginning June 1
- CoinGecko also showed the Curve apxUSD/USDC pair as the most active market, with about $48.5 million of 24-hour volume
- Apyx's apxUSD fell below its dollar reference on June 4 as Bitcoin traded near $63,000, putting DeFi dollar peg risk back in focus
Summary
ApxUSD’s slide during Bitcoin’s selloff shows how preferred-share collateral can turn a dollar token into a DeFi risk signal. 01 apxUSD slipped below its dollar reference on June 4 as Bitcoin fell near $63,000, briefly trading as low as $0.93. 02 The token is backed mainly by Strategy preferred stock, so STRC's price now affects DeFi collateral, liquidity, and exit risk. 03 Apyx says apxUSD can trade above or below $1, and the next test is whether STRC, liquidity, and reserves stabilize. Apyx's apxUSD fell below its dollar reference on June 4 as Bitcoin traded near $63,000, putting DeFi dollar peg risk back in focus.