<ul><li>The synthetic USD (sUSD) stablecoin, issued by Synthetix, has depegged and dropped to $0.83 before partially recovering.</li><li>Excess supply flooding the market has been cited as a reason for the drop, with traders offloading the asset in large volumes.</li><li>The transition of the peg restoration mechanism is adding to the pressure, leading to volatility.</li><li>Despite the depeg, Synthetix founder Kain Warwick remains confident about Synthetix.</li></ul>

Synthetix Stablecoin (sUSD) Depegs, Drops to $0.83

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