USX (USX) - Volatility Report - 26 December 2025
The Solstice team states that recent USX price swings are driven by secondary market liquidity, not collateral impairment, and that USX’s NAV remains over 100% collateralized, with an additional third-party attestation requested, according to their official update. They also confirm 1:1 primary-market redemptions and ongoing liquidity injections by the team and market makers. Mechanically, this means the protocol side should be solvent while order-book depth is temporarily thin. If the attestation confirms reserves and redemptions function smoothly, de-peg discounts may close, creating mean-reversion trades; however, persistent liquidity concerns could keep risk premiums and volatility elevated.We are aware of some major volatility in the secondary market for USX tonight. The Solstice team can confirm the underlying NAV and the custodied assets backing USX on the Solstice side remain entirely unaffected and >100% collateralized. We have requested an immediate and…