From CoinTelegraph

April 18, 2025 2:17 AM:

The Synthetix protocol’s stablecoin, Synthetix USD (SUSD), falls below $0.70, far from its 1:1 peg with the US dollar. SUSD’s value depends on SNX token market value. SNX remains relatively stable, while SUSD struggles. Short-term volatility due to SIP-420 launch. Synthetix implements liquidity support and debt-free staking to address risks.

Synthetix founder Kain Warwick attributes SUSD volatility to changes in buying mechanisms. Promises new mechanisms to stabilize SUSD’s peg. Persistent instability since 2025, with SUSD reaching $0.96 in January and fluctuating through February. Synthetix implements short, mid, and long-term strategies to address SUSD volatility.

At the time of publication, SUSD trades at $0.70, 30% below its intended 1:1 peg with the US dollar. SNX holds steady at $0.63, falling 26% in the past 30 days. Synthetix implements measures to support SUSD liquidity and reduce debt risk. Stay tuned for further updates on SUSD stability.

Read more at Cointelegraph: Synthetix’s sUSD stablecoin continues fall after depeg, tapping $0.68