
Synthetix Stablecoin (sUSD) Depegs, Drops to $0.83
The synthetic USD (sUSD) stablecoin, issued by Synthetix, has plunged below its $1.00 peg, sinking as low as $0.83 before rebounding slightly. This drop marks the stablecoin’s second depeg in less than a year, reigniting concerns about the issuer’s stability mechanisms. Oversupply Triggers Peg Instability sUSD’s latest tumble has been attributed to excess supply flooding…