sUSD back in the spotlight! 📉 The stablecoin from Synthetix has dropped to $0.83, causing a wave of concern about stability mechanisms. The main reason is an oversupply, particularly noticeable on Curve, where sUSD constitutes 75% of the DAI-USDC-USDT-sUSD pool. Recovery of the peg is in process, but volatility is expected.

Despite the drop, Synthetix founder Kane Warwick is confident about the future. He has increased his SNX holdings by selling 90% of his ETH. However, SNX is also down, having fallen 97% from its all-time high. 💼