On May 17, Coingecko data revealed that the stablecoin sUSD minted by Synthetix ecological pledge SNX broke off its anchor to around 0.925 in the early morning of this morning and has now rebounded to $0.956.
According to Chaos Labs' analysis, this decoupling is due to large sBTC/wBTC liquidity providers withdrawing, using Synthetix's spot synthetic redemptions to acquire sUSD, and selling sUSD in the relevant Curve pool.
SUSD peeled off its anchor to around 0.925 early this morning and is now back up to $0.956
2024-05-17 03:17:53
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