Synthetix sUSD Stablecoin Challenges Peg as Market Downturn Drags It to $0.96
Friday, 17 May 2024, 11:23
Synthetix sUSD Stablecoin Slips Below $1 to $0.96 Amid Market Sell-Off
Synthetix’s decentralized stablecoin, sUSD, fell below its $1 peg — reaching as low as $0.92 before slightly recovering to $0.96.
This significant deviation from the peg has raised concerns among traders and investors, emphasizing the impact of market volatility on stablecoin performance.
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