Synthetix’s sUSD Slides Further Away from Peg After Protocol Update

The Synthetix protocol’s sUSD stablecoin is fighting to recover from a very steep depeg that has it far below its intended dollar peg. The sUSD has partially recovered from a drop to $0.66 over the past 24 hours, bouncing back to a still far-under-peg $0.83, according to CoinGecko. It has a market capitalization of $27 million, far below its 2021 high north of $300 million. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant