The algorithmic stablecoin sUSD, a cornerstone of the Synthetix ecosystem, has spiraled into its deepest depeg in years, tumbling below $0.7 amid mounting concerns over its collateral mechanism and liquidity crunch.
This latest drop marks a stark deterioration from its already fragile state earlier this month, when it wobbled near $0.83.
A System Under Stress
Data from CoinGecko shows sUSD’s highest price in the last seven days at $0.9032. However, since April 14, it has dropped steadily, going to $0.86, then to $0.76, before finally hitting rock bottom on April 18 at $0.664.
At the time of writing, the stablecoin had regained nearly 2% of its value in the last hour, although the current price of $0.70 is still an 8.8% dip in 24 hours. Its performance across longer time frames is just as bad, down 29.3% over 30 days and 29.2% year-on-year.
The situation is no better with sUSD’s Optimism version. It hit a new all-time low of $0.6476 hours ago, after going down 6.9% in the past day a
We współpracy z: https://cryptopotato.com/susd-drops-below-0-7-as-synthetix-stablecoin-faces-prolonged-depeg/
