Negative news
On January 30 evening, the OKX exchange announced the delisting of the stablecoin GUSD.
The demand to borrow GUSD on Aave (most likely for shorting this stablecoin) started to jump. Utilization Rate on Aave is currently 82% and has exceeded the optimal threshold of 80%.
However, the GUSD market size on Aave is quite small, approximately less than $10 million. The majority of GUSD supply is currently deposited into MakerDAO’s PSM for supporting DAI’s anchor.
In addition, the price data of stablecoin GUSD on the 2 platforms Coinmarketcap and Coingecko has also fluctuated in recent times, the reason is still unknown.
Coinmarketcap sometimes recorded this stablecoin falling to the threshold of $0.98. On CoinGecko, there was a time when the GUSD price fluctuated sharply when it reached the $1.08 mark.
For DeFi projects, MakerDAO has also established DAO voting to reduce the risk of influence from GUSD gradually.
The Gearbox DAO also cited GUSD as an example to discuss both the collateral management solutions and the depeg risk of this stablecoin.
Positive news
Earlier, MakerDAO also made corrections related to GUSD’s collateral as well as the partnership between Gemini and MakerDAO.
The MakerDAO community in January voted not to lower GUSD’s debt ceiling, remaining at the $500 million mark.
In addition, Sam MacPherson – developer of MakerDAO – also shared information about GUSD payouts for MakerDAO (specifically PSM pool activity):
However, it is still difficult to conclude what will happen with this stablecoin. In the near term, especially after many companies have filed for bankruptcy, it is very likely that more new data will have a huge impact on the market in the future.