LQTY, the native token of censorship-resistant decentralized stablecoin lender Liquidity, surged Monday after the NYDFS ordered Paxos to cease minting BUSD. The token rose 45% to a six-month excessive of $1.07, registering its greatest single-day proportion achieve in not less than a yr, per information from TradingView. The rally possible stemmed from the Paxos-BUSD drama that triggered fears of a regulatory crackdown on the broader centralized stablecoin ecosystem, with some wondering if Circle’s USDC may be subsequent. If that’s the case, the case for decentralized and censorship-resistant stablecoins like Liquity’s LUSD turns into clearer.
