The Synthetix (SNX) ecosystem's stablecoin, sUSD, is currently experiencing a significant depeg, falling below its intended $1 value. Trading at approximately $0.91857, sUSD is down over 8%. This depeg raises concerns about the stability and reliability of algorithmic stablecoins. While the exact cause of the depeg is still under investigation, potential contributing factors include decreased demand, market volatility, or issues within the Synthetix protocol itself. Users holding sUSD should closely monitor the situation and consider potential risks. The Synthetix team is likely working to address the depeg and restore sUSD to its peg. ```