Synthetix’s stablecoin, sUSD, has dipped yet again—this time by 4.6%—in just the last 24 hours, and is now sitting at a value of $0.916. With this new significant drop, sUSD is now pegged over 8% off where it should be. With this new serious stability issue that sUSD is dealing with, many Twitter Communities and Discord Groups across Web3 are speculating about the future of that ecosystem. While many people are asking whether this is the start of a “death spiral” for sUSD, or whether it will eventually recapture its peg, it is much more powerful to frame the problem
The post Synthetix’s sUSD Faces Significant Depeg Amid SIP 420 Transition: Is This the Start of a Death Spiral? appeared first on The Merkle News.
