Kain Warwick, founder of Synthetix, announces new incentives to restore sUSD peg.

Synthetix (SNX) price shot up 7% in the past 24 hours as founder Kain Warwick took a firm stance on the recent depegging of sUSD stablecoin.

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TL;DR Synthetix launched a new staking mechanism, the “sUSD 420 Pool,” offering SNX rewards to stabilize the price of its sUSD stablecoin. Founder Kain Warwick warned that pressure will be applied if participants don't respond to the voluntary incentive. The value of sUSD dropped to $0.68 in April but has partially recovered to $0.

Kain Warwick, the founder of the decentralized finance (DeFi) platform Synthetix, has urged SNX SNX token holders to take action to help restore the value of the project's stablecoin, sUSD.

Bitcoin breaks above key resistance level, STX leads altcoins with double digit gains.

Synthetix founder Kain Warwick has urged SNX stakers to adopt the protocol's newly launched staking mechanism aimed at restoring the dollar peg of its stablecoin, sUSD. The post Synthetix Founder Warns SNX Stakers to Embrace New Mechanism or Face ‘The Stick' appeared first on Cryptonews.

STX formed a God candle today, rallying as high as 19.5% after it broke out of a bullish pattern as the broader market recovered. Stacks (STX) rose to an intraday high of $0.

As sUSD continues to trade below its intended $1 peg, Synthetix founder Kain Warwick has urged stakers to step up and help restore stability before more stringent measures are implemented.

Crypto prices have started the year on a strong note, with Bitcoin surging to over $87,500 and Ethereum rising to $1,340. The total market cap of all cryptocurrencies tracked by CoinMarketCap jumped to $2.76 trillion. This article provides a forecast for top tokens like Stellar Lumens (XLM), Decentraland (MANA), and Stacks (STX).

Synthetix founder Kain Warwick has threatened SNX stakers with “the stick” if they don't take up a newly launched staking mechanism to help fix the protocol's ongoing sUSD (SUSD) depeg.Warwick said in an April 21 post to X that it has now implemented a sUSD staking mechanism to address the depeg, but admitted it is currently “very manual” without a proper user interface. However, once the UI goes live, Warwick said, if there isn't enough momentum, then they may have to “ratchet up the pressure” on the stakers in the sUSD 420 pool.

Synthetix has launched a new liquidity initiative aimed at stabilizing its algorithmic stablecoin sUSD, which has been trading well below its intended $1 peg.

Synthetix's sUSD stablecoin has plunged as low as $0.68, losing its dollar peg amid structural changes, sparking fears of a broader DeFi crisis and highlighting vulnerabilities in algorithmic stablecoin mechanisms. The post Stablecoin Sinks to $0.68: sUSD Loses Its Peg, Sparks Fears of SNX Death Spiral? appeared first on Cryptonews.

The Synthetix protocol stablecoin dropped to a new low this week, extending its month-long depegging trend.

Synthetix's sUSD stablecoin has crashed below $0.70 marking its worst depeg in years as collateral changes backfire.

Synthetix's sUSD stablecoin has fallen to $0.70, 30% below its dollar peg, following protocol changes that disrupted its market balance.

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.

Axie Infinity attracted the attention of gaming and crypto enthusiasts after the recent launch of the much-awaited Origins S12 postseason. At the center of the craze is the Elite 8 Tournament, which will begin next week on April 21.

TL;DR Season 12 of Origins has officially wrapped up, making way for an exciting postseason. The Elite 8 Tournament begins on April 21st, where the top players will face off for a 3,000 AXS prize pool.

Bitcoin slips to $83,380 amid conflicting global signals. Meliuz embraces BTC as a treasury asset, while China quietly offloads holdings. Ripple CEO sees $200K ahead. The post Bitcoin Drops to $83,000 — China Sells, Meliuz Stacks 45 Coins appeared first on Cryptonews.

The cryptocurrency market is more than just a buzzword today—it's become an essential part of the global financial ecosystem. With innovation constantly unfolding, there's an undeniable wave of excitement and possibility in the crypto space.

The Tokyo-listed investment firm said it bought an additional 319 BTC, bringing its total holdings to 4,525 BTC.

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.

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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.

Institutions will now be able to gain exposure to sBTC, an asset for Bitcoin-denominated gains, through Hex Trust custody.

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.

Hex Trust, a Hong Kong-based digital asset firm that offers institutional-grade custody, staking, and trading solutions, has announced expanded support for Stacks (STX), a leading layer-2 (L2) Bitcoin (BTC) network, as well as sBTC, Stacks' decentralized asset based on Bitcoin, per information shared with Finbold on Thursday, April 10.

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.

Token unlocks play a pivotal role in the crypto market, impacting liquidity, price volatility, and investor sentiment. They are events in crypto where locked coins or tokens are released and become available for trading in the open market.

TL;DR The Season 12 Final of Axie Infinity Origins is officially underway, with 24,000 AXS and extra rewards up for grabs for the top 30,000 players. Player “Enrico” dominated the Mystic Era, positioning himself as the top contender for this season's grand finale.

Japanese hotel giant Metaplanet (3350) is going big on Bitcoin as the firm just scooped up 160 BTC. The firm acquired Bitcoins for around $83,600 each, adding $13.4 million to their crypto stash. This brings their Bitcoin holdings to 4,206 BTC, and their total investment to $363.5 million.

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.

The crypto market continued to increase over the past 24 hours, rising almost 1% to $2.86 trillion as it inches towards the $3 trillion mark. Bitcoin (BTC) saw a marginal rebound as it went from $86,380 to $88,447 before declining to its current level.

Tthe OP Stack has remained dominant, with "bridge abstraction" volume surging ahead of Ethereum's next major upgrade.

Once the stars of the crypto market, metaverse tokens like MANA, SAND, and AXS have struggled lately.

The crypto market recovered over the past 24 hours as prices rose after experiencing significant declines over the past few sessions. Bitcoin (BTC) dipped to a low of $76,982 on Tuesday before rebounding to reclaim $80,000 and reach $83,737 before losing momentum and declining to its current level.

Cryptocurrency exchange Binance again captured noteworthy market attention with its latest update on 6 tokens this Tuesday. Notably, the exchange revealed that it is updating the leverage and margin tiers for RARE, AXS, ZEN, XTZ, SAGA, and CATI.

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