<ul><li>The algorithmic stablecoin sUSD, a cornerstone of the Synthetix ecosystem, has dropped below $0.7 amid concerns over its collateral mechanism and liquidity.</li><li>The stablecoin's price has steadily declined, reaching a low of $0.664.</li><li>sUSD's Optimism version has reached a new all-time low of $0.6476, raising fears of a potential death spiral.</li><li>The recent protocol overhaul and removal of a key arbitrage mechanism have destabilized the stablecoin.</li></ul>

sUSD Drops Below $0.7 as Synthetix Stablecoin Faces Prolonged Depeg

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