sUSD Synthetix update: SUSD Live price, price chart, news and markets

The SUSD price update as of now is $0.9754. In the previous 24 hours, its trading volume was $3,294,298, and its value has decreased by -0.21%. As of now, SUSD's live market cap is $45,754,145, and it is ranked as the #593 on the Coincu. SUSD has a circulating supply of 46,908,530 and a maximum supply of 46,908,530.

What is sUSD Synthetix?

sUSD Synthetix is an official stablecoin that plays a vital role in the Synthetix ecosystem. It operates with a 1:1 ratio with the USD, thanks to Chainlink's price feed. This unique feature enables users to engage in sUSD arbitrage and earn additional income.

For example, if the market value of sUSD drops to $0.98, a user can purchase 100 sUSD for $98 and trade it for $100 worth of sBTC or any other synthetic asset available on the Synthetix platform.

Key Attributes of sUSD Synthetix

sUSD Synthetix serves as the primary cryptocurrency within the Synthetix ecosystem. It facilitates seamless trading and exchange activities with other synthetic assets on the platform. Moreover, users can utilize sUSD as collateral. Through staking SNX coins into the Smart Contract of the Synthetix platform, users can mint sUSD tokens.

In the Synthetix protocol, sUSD functions as a "debt obligation." This implies that when users mine SUSD coins, they acquire a portion of the overall debt associated with all minted synthetic assets. The minting and issuance of sUSD depend on the demand for mining and owning synthetic assets on the Synthetix platform.

sUSD Synthetix is an integral part of the DeFi ecosystem, similar to other highly liquid decentralized stablecoins such as Curve. It offers seamless trading opportunities against other accounts derived from the Synthetic protocol at Kwenta or Synthetix.Exchange.

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