sUSD is a synthetic asset within the Synthetix ecosystem that targets a dollar denomination and is primarily used for protocol trading and liquidity. It aims to stay close to $1, rather than promising that it can trade at $1 in all market conditions; its actual price is affected by liquidity, exchange demand, and the operation of protocol mechanisms. Holding sUSD does not represent ownership of Synthetix shares, voting rights, or fixed dividends.

sUSD Price in USD Today, Live Market & Historical Trend Chart

Q: What is sUSD used for?

sUSD’s core use is to provide dollar-denominated funds for Synthetix trading and order-book liquidity. Users and liquidity participants can use it as a stable unit of account in trading, so trading and liquidity demand within the protocol affect its use cases. It is not merely an ordinary token for transfers: in the mainnet design, sUSD is deployed to components that support trading liquidity, so fund availability and order-book depth are interconnected. Specific available functions depend on the protocol products and markets deployed at the time.

Q: How is sUSD supply created and changed?

The current mainnet direction does not continue the old model in which users minted sUSD themselves by collateralizing SNX; that model has been deprecated. Under the redesigned approach, the Treasury Market dynamically mints, burns, and deploys sUSD according to protocol needs. Minting increases the sUSD available for protocol use, burning reduces the corresponding amount, and deployment puts funds toward uses such as trading liquidity. Supply is therefore not a pre-fixed number, but a protocol variable serving liquidity and peg management; dynamic supply itself does not equal a price guarantee.

Q: Will sUSD always equal $1?

It cannot be guaranteed. sUSD aims to stay close to $1, but its market price can be above or below that target. When the price deviates, holders face actual market quotes when trading or exchanging, rather than a fixed redemption promise. After SIP-420, Synthetix disclosed that sUSD faced price-stability pressure and proposed narrowing the gap between it and $1 through market-based buybacks: when the protocol buys sUSD on the market, it increases buying demand and reduces the sUSD available for trading in the market. The effectiveness of this measure still depends on market depth, participant behavior, and the overall mechanism, and cannot be treated as an absolute peg.

Q: What important changes occurred to sUSD after SIP-420?

SIP-420 is important context for understanding recent changes to sUSD: following its implementation, the protocol observed price-stability pressure on sUSD and made rebuilding the peg mechanism a priority. Subsequent rebuilding efforts included deprecating the old SNX-collateralized minting model and having the Treasury Market manage dynamic supply and liquidity deployment. This does not mean that a single proposal can restore the peg. The issues that emerged after SIP-420 prompted subsequent mechanism adjustments, while the actual market price must still be assessed based on liquidity and trading conditions at the time.

Rank 1529

$0.08120

+$0.00059(+0.74%)

Market Cap

$3.54M

24h High

$0.08221

24h Low

$0.07890

24h Turnover

$134.65

Total Supply

33.02M

Market Sentiment

Neutral

Price of sUSD (SUSD) Today in USD

View sUSD (SUSD) Price Prediction

The live price of sUSD (SUSD) today is $0.08120, with a 24h change of +0.74%. Over the same period, the low was $0.07890, the high was $0.08221, and the 24h trading volume was $134.65. The current market cap is approximately $3.54M. It ranks #1529 by market cap and accounts for 0.00% of the total crypto market cap. The all-time high was $2.45000 (⁦2020-02-18⁩); the current price is -96.69% from the all-time high.

sUSD (SUSD) Price History

7 Days
-3.67%
Low
$0.07873
High
$0.08754
30 Days
+43.94%
Low
$0.05135
High
$0.14001
90 Days
-83.85%
Low
$0.03580
High
$0.63680
1 Year
-91.65%
Low
$0.03580
High
$1.05570

Fear & Greed Index

0 Extreme Fear100 Extreme Greed

Yesterday: 50; Normal
Last Week: 30; Fear
Last Month: 71; Greed

The Fear & Greed Index is currently 28/100, in the Fear zone; change from yesterday: -22, from last week: -2, and from last month: -43. Lower values indicate more fearful sentiment, while higher values indicate more greedy sentiment. This does not represent price change.

Why Did sUSD (SUSD) Rise in the Last 24 Hours?

sUSD is a small-cap asset with a market capitalization of about $2.6 million, and its liquidity is limited, so even a small amount of trading can cause fluctuations. K-line volume was only 196 units at 11:00 UTC on 2026-11-05. The top-five-level bid-to-ask depth ratio was 0.52, with total sell orders exceeding buy orders. However, the largest buy order was about 25.5% below the price at that time, while the largest sell order was about 146.6% above it; both were distant, limiting their direct support or resistance. Among technical indicators, the four-hour moving average was bearish and ADX was 33.29. RSI was neutral across all timeframes and MACD gave no signal, leaving the short-term direction unclear. Low volume and the distance of these orders limit the indicators’ implications for price movement.

About sUSD (SUSD)

The predecessor of SUSD is nusd, which is issued by the havven foundation. It will be created directly in the issuer's wallet and paid proportionately according to the number of nominations published by each user to improve liquidity. The stability of SUSD is maintained by the direct market intervention of the foundation.

Use Cases and Features

sUSD is a synthetic dollar asset in the Synthetix ecosystem, used to support on-chain trading and liquidity. In the mainnet perpetual-contract system, it can serve as a base asset for liquidity and market-making-related funds; the protocol also plans to reinforce support for its price stability through measures such as buybacks funded by trading fees. Holding or using sUSD does not equal holding equity in Synthetix and does not represent a fixed return.

Supply and Issuance Mechanism

The legacy SNX-collateralized method of minting sUSD has been deprecated. The Synthetix Mainnet design has the Treasury Market dynamically mint, burn, and deploy sUSD to fund trading liquidity and support its peg target, so supply does not follow a fixed-cap model. The stablecoin may still deviate from its target price because of market supply and demand and mechanism adjustments.

Stablecoins

Optimism Ecosystem

Fantom Ecosystem

USDT

Crypto-Backed Tokens

Arbitrum Ecosystem

USDC

Synthetic Asset

Website

Explorers

How to Buy and Use sUSD (SUSD)

How to Buy

Buy in just four steps (Log in -> Verify -> Purchase -> Receive crypto)

Verify

Trade

Receive Assets

Related Markets

Spot

SUSD/USDT

Trade

sUSD (SUSD) Basics & Market Insights

Fundamentals

sUSD Depegs by 16%: Stablecoin Myth Shattered or Prime Buying Opportunity?Intermediate

"Antique Stablecoin" Depegs, Losing $18 Million in One Night — Can Synthetix's sUSD Be Bought at the Bottom?Beginner

Gate Research: sUSD Depeg Risk Intensifies, Berachain Enters Top 6 TVL, Raydium Launches LaunchLabAdvanced

Market Analysis

Stablecoin sUSD Decentralization Crisis: A Comprehensive Analysis of Causes, Impacts, and Future ProspectsThe decentralized synthetic stablecoin sUSD issued by the Synthetix protocol is facing a serious de-pegging crisis, with the price once dropping to 0.7732 USD.2026-04-01

Frequently Asked Questions About sUSD (SUSD)

What is sUSD?

What is sUSD used for?

How is sUSD supply created and changed?

Will sUSD always equal $1?

What important changes occurred to sUSD after SIP-420?

Risk Disclosure

Cryptocurrencies are high-risk assets and are subject to significant price volatility. The value of digital assets may fluctuate sharply within a short period of time, and you may lose part or all of your investment principal. Past performance does not guarantee future results. Before engaging in any transaction, you should carefully assess your financial situation, investment experience, investment objectives, and risk tolerance, and ensure that you fully understand the characteristics and risks associated with cryptocurrencies. If necessary, you are advised to consult an independent professional advisor with the appropriate qualifications.

Disclaimer

The information provided on this page is for general reference only and does not constitute any form of investment, financial, legal, tax, or trading advice, nor does it constitute any offer, solicitation, or recommendation. Gate makes no representations or warranties regarding the accuracy, completeness, or timeliness of the relevant information and assumes no liability for any losses arising from users' own decisions based on such information. Gate products and services may be restricted in certain jurisdictions or for certain users. Before using the relevant services, please ensure compliance with applicable laws and regulations, and refer to the User Agreement for provisions regarding restricted regions and service limitations.