sUSD dropped to around 0.925 early this morning, and has now rebounded to 0.956 dollars
Coingecko data shows that the stablecoin sUSD, minted by Synthetix's staked SNX, deviated to around 0.925 early this morning and has now rebounded to 0.956 dollars. According to Chaos Labs analysis, this deviation is due to large sBTC/wBTC liquidity providers withdrawing, using Synthetix's spot synthesis redemption to obtain sUSD, and selling sUSD in the related Curve pool.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Base's daily transaction volume reached 11.4 million, setting a new historical record
Belled ETHA set its highest daily trading volume record, currently holding 625,527 ETH
Top Trader Eugene: The beauty of a bull market is that there will always be opportunities
Trending news
MoreCrypto prices
More
