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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.
TL;DR sUSD Depeg Crisis: Synthetix's stablecoin sUSD has plunged below $0.80 amid significant protocol changes that have unsettled investors and traders. Impact of SIP-420 Upgrade: The recent SIP-420 upgrade, aimed at enhancing capital efficiency, has flooded markets with excess sUSD, disrupting traditional peg defense strategies and triggering chaotic trading conditions.
Synthetix's algorithmic stablecoin sUSD has continued its month-long depeg, now trading nearly 21% below its $1 peg. According to CoinGecko's price data, sUSD has dropped to $0.7924 as of Apr.
Synthetix's sUSD stablecoin de-pegs, trading at $0.8107.
A new report from on-chain analytics firm Parsec argues that the recent depegging of Synthetix's stablecoin sUSD is not the result of bad debt or protocol failure—but a direct consequence of governance upgrade SIP-420.
Synthetix's algorithmic stablecoin sUSD is continuing to drift from its $1 peg, currently trading at $0.90.
Synthetix's stablecoin, sUSD, has plunged to a five-year low of $0.83, raising investor concerns about its stability.
What happens when a stablecoin isn't stable, and the founder's response is “no crying in the stablecoin casino”?
Synthetix's sUSD suffers second major depeg in a year, with founder Kain Warwick warning of volatility during peg mechanism transition.
TL;DR Synthetix's sUSD stablecoin briefly fell to $0.83, its lowest level in five years, sparking renewed concerns about its long-term stability. While it shares design similarities with Terra's failed UST, sUSD is backed by a $30 million treasury that could help mitigate extreme risks.
The Synthetix protocol's native stablecoin, Synthetix USD (sUSD), fell to its lowest value in five years, extending a months-long struggle to maintain its $1 peg.The asset has faced persistent instability since the start of 2025. On Jan. 1, sUSD dropped to $0.96 and only rebounded to $0.99 in early February.
Synthetix stablecoin sUSD has fallen 6% in the last day to trade at $0.8597, continuing the recent decline below its $1 peg. At the same time, 24-hour trading volume has jumped nearly 487% to over $2.
Synthetix had another de-peg of its asset-backed sUSD token. The stablecoin slid to $0.83 due to the transitional period of minting from a new staking pool.
In a thread on X this morning, Synthetix founder Kain Warwick offered a stark look into the inner workings of crypto market makers (MMs) and their evolution over the years.
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Synthetix (SNX) is a decentralized finance (DeFi) protocol built on the Ethereum blockchain, allowing users to create and trade synthetic assets. These assets mirror the value of real-world assets such as commodities, currencies, and stocks.
Synthetix has announced that it will transition its perpetual markets on the Arbitrum network to a close-only mode.
The move is part of a strategic pivot by Synthetix to consolidate its operations and focus on Coinbase's Base network.
The DeFi protocol also launched an in-house perpetuals trading app.
Synthetix exchange relaunches with multi-collateral perpetuals on the Base network. The reboot of Synthetix comes with a new website, relaunch of its exchange, and upcoming launch of Synthetix Leveraged Tokens.
The product is part of Synthetix's ongoing effort to revamp after a governance overhaul in October.
TL;DR Synthetix acquires TLX as part of its strategy to expand its product offerings and strengthen its DeFi ecosystem. Leveraged products in development: the protocol plans to relaunch TLX on the Base network after auditing and optimizing its infrastructure.
Decentralized finance (DeFi) protocol Synthetix has acquired the leveraged token platform TLX in a token-for-token deal. The post Synthetix Acquires TLX in Token-for-Token Deal appeared first on Cryptonews.
Synthetix said it plans to re-launch all TLX products on Base network after adding parameter improvements.
