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$2,973,351,684,350
Market Cap
$48,065,128,667
24h Vol
13285
Cryptocurrencies
63.93%
Bitcoin Share
Coin Edition 2025-04-17 19:45:00

sUSD Crashes Below $0.77: Synthetix Faces Challenges After Major Protocol Changes

sUSD Crashes Below $0.77: Synthetix Faces Challenges After Major Protocol Changes

Synthetix’s sUSD has dropped below $0.77, raising concerns about its market stability. sUSD’s market cap falls from $30 million to $24.5 million, triggering investor concerns. The oversupply of sUSD in Curve pools leads to a price decline amid low demand. The sUSD, an EOS-based synthetic asset, has tumbled to $0.77 , raising eyebrows among investors. This depeg occurs after new changes were made to the Synthetix protocol, aiming to enhance capital efficiency. The recent decline in the price of sUSD has called into question the credibility of decentralized financial systems. At the start of April, sUSD had a market capitalization of $30 million. As of press time, it had reduced to $24.5 million. This depeg has sparked significant concern in the market, as several investors have adjusted their positions due to the depeg. (adsbygoogle = window.adsbygoogle || []).push({}); SIP-420 and sUSD Issues sUSD is an anchored stablecoin that is collateralized by a synthetic asset, specifically the SNX token, which backs the Synthetix protocol. It is implemented to track the value of the U.S dollar within the cryptocurrency ecosystem via Chainlink orac… The post sUSD Crashes Below $0.77: Synthetix Faces Challenges After Major Protocol Changes appeared first on Coin Edition .

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