sUSD depeg, explained: Why Synthetix’s stablecoin fell below $0. 70 In a significant and concerning event in the cryptocurrency space, sUSD, the native stablecoin of the Synthetix protocol, saw its value plummet to $0. 68 on April 18, 2025. This drop represents a dramatic 31% deviation from its intended peg of 1:1 with the US dollar, a threshold that is fundamental to the concept of stablecoins
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