The Synthetix protocol’s sUSD stablecoin is fighting to recover from a very steep depeg that has it far below its intended dollar peg.
The sUSD has partially recovered from a drop to $0.66 over the past 24 hours, bouncing back to a still far-under-peg $0.83, according to CoinGecko. It has a market capitalization of $27 million, far below its 2021 high north of $300 million.
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