Synthetix stablecoin sUSD has recently fallen below the $1 mark, declining by 6% and is currently trading at $0.8597. 📉
The 24-hour trading volume has increased by 487%, surpassing $2.1 million. This reflects growing concerns in the market. With the new "420 Pool", SNX holders can mint sUSD with less collateral, which increases supply and puts downward pressure on the price.
The Synthetix team plans to incentivize liquidity pools and increase the use of sUSD.
The 24-hour trading volume has increased by 487%, surpassing $2.1 million. This reflects growing concerns in the market. With the new "420 Pool", SNX holders can mint sUSD with less collateral, which increases supply and puts downward pressure on the price.
The Synthetix team plans to incentivize liquidity pools and increase the use of sUSD.