Here is the latest news from the crypto world that will make us smile! 😄
- The stablecoin sUSD from Synthetix suddenly became a "discount" and dropped to $0.83! This is the second time in a year that sUSD has lost its peg. What's going on?
- Fenway, a core contributor to Synthetix, says that oversupply is the culprit. In Curve, sUSD makes up 75% of the DAI-USDC-USDT-sUSD pool. Wow, a lot of people are selling!
- Kain Warwick, the founder of Synthetix, says a new mechanism is being tested for stabilization. So, get ready, there might be a bit of a shake-up.
- Although sUSD is currently shaky, Warwick remains optimistic. He even increased his collection of SNX tokens to 35 million!
What do you think? Is this the time to buy sUSD at a "discount"? Let's discuss in the comments!