Synthetix’s sUSD stablecoin continues fall after depeg, tapping $0.68

The Synthetix team told Cointelegraph it has short, medium and long-term plans to mitigate risks as its sUSD stablecoin remains depegged.

The Synthetix protocol’s native stablecoin, Synthetix USD (SUSD), has slipped further away from its US dollar peg, reaching new all-time lows under $0.70. 

However, the firm reiterates that this isn’t the first time the asset has been under significant stress, and several risk measures are in place.

“Synthetix and sUSD have weathered multiple bear markets and periods of stablecoin volatility; this is not the first resilience test,” a spokesperson from Synthetix told Cointelegraph.

Read more