๐ Hold onto your hats, crypto fans! Synthetix's sUSD stablecoin is doing the limbo again, dipping below $0.90! ๐ค It's the third time this month, making it the rollercoaster of stablecoins. Despite a five-year track record, sUSD's volatility is raising eyebrows, dropping as low as $0.40 in the past.
The culprit? A rapid supply surge and a new minting model that might be too chill for its own good. With sUSD supply only 10% of its 2021 peak, the stakes are high!
But hey, optimism is key! Could this be a chance for new strategies? Share your thoughts in the comments!