Executive Summary
USX at 5,783 bps for hour 357; the day's new signal is $11.8B across sUSDS, USD1 and RLUSD watching DEX liquidity scores slip together while TVLs barely moved.
USX sits 5,783 bps below peg on $20.81M market cap, hour 357 of the same broken print. Safety grade F, peg component 36, liquidity 14. It is the deepest active depeg on a coin still trading above $20M cap; pmUSD carries more weight at $70.64M but breaks shallower at 5,568 bps. The chronic label does not make it less broken, only less news.
Depth Redistributing. Three DEX liquidity scores worsened in lockstep: sUSDS 41 to 32 across $5.62B mcap, USD1 62 to 54 across $4.60B, RLUSD 72 to 60 across $1.58B. Nearly $12B of major-cap coins wearing thinner exit paths while their TVLs barely moved. The scores are saying depth is redistributing away from the middle tier, not that pools drained.
PSI at 91.8 marks a 13th BEDROCK day but the lowest print in three, and yesterday's call for a PSI break to 90 missed. USDC shed $861M over seven days, its biggest weekly drain since April's $79.75B ATH. If APXUSD widens to 3,650 bps or PSI slips to 89 at tomorrow's snapshot, the frame shifts from tension to active deterioration.