---
title: "apxUSD Widens, Fifty-Nine Days In"
canonical: "https://pharos.watch/digest/2026-08-15/"
datePublished: "2026-08-15T08:07:30.000Z"
description: "apxUSD slid another 206bps to 713 below peg, now $0.928; on a $300M float it edges even pmUSD for the board's largest depeg impact. The STRC drawdown that opene"
---

# apxUSD Widens, Fifty-Nine Days In

## Executive Summary

apxUSD slid another 206bps to 713 below peg, now $0.928; on a $300M float it edges even pmUSD for the board's largest depeg impact. The STRC drawdown that opened it in June still hasn't closed.

## Extended

apxUSD slid another 206 basis points off peg today, from 507 to 713; it now trades at $0.928. On a $300.97M float, that hands it the single largest depeg impact on the board, edging even pmUSD, which sits far deeper. The cause hasn't changed since June 2: the STRC drawdown that first cracked it to $0.89. Fifty-nine days on, its report card still reads F, backing 39.5.

PSI eased to 92.7 from 94.6, its lowest in three days, though a 53-day BEDROCK streak makes that a rounding error, not a warning. Dollar yields kept compressing: USDT's best APY held at 4.12%, USDC's slipped to 10.16% against 11.42% a month back. pmUSD, 3,501 basis points below peg at $0.650, did nothing new.

DEX depth split by name. ONyc firmed, score 50 to 63 on $12.4M of TVL, while USAT, NUSD, and DUSD each shed exit capacity, NUSD halving to $3.42M. Next trigger: if USDC's best APY falls back to 12.5%, 1.2 times its weekly average, the yield anomaly that has framed this week is finally cooling.