Synthetix's sUSD stablecoin fell below its $1.00 value, dropping to $0.83 before experiencing a slight recovery. 😮 This marks the second time in the past year that it has lost value, reigniting concerns about the issuer's stability mechanisms.

The recent drop in sUSD is attributed to an imbalance triggered by oversupply in the market. Synthetix founder Kain Warwick stated that they are trying to restore balance with new mechanisms. However, fluctuations are expected during this transition period. 📉