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 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 1552

$0.07441

-$0.00953(-11.36%)

Market Cap

$3.54M

24h High

$0.08579

24h Low

$0.07441

24h Turnover

$290.77

Total Supply

33.02M

Market Sentiment

Neutral

sUSD (SUSD) Price Performance

View sUSD (SUSD) Price Prediction

sUSD (SUSD) has a Last Price of $0.07441, with a 24h change of -11.36%. The 24h low is $0.07441, the 24h high is $0.08579, and the 24h turnover is $290.77. The current market cap is approximately $3.54M, ranking 1552 by market cap and accounting for 0.000052% of the total crypto market cap. The All-Time High is $2.45000 (⁦2020-02-18⁩), with a change from the All-Time High of -96.96%.

7 Days
-17.11%
Low
$0.07493
High
$0.10021
30 Days
-65.32%
Low
$0.03580
High
$0.29990
90 Days
-86.86%
Low
$0.03580
High
$0.63680
1 Year
-92.43%
Low
$0.03580
High
$1.35000

Fear & Greed Index

0 Extreme Fear100 Extreme Greed

Yesterday: 51; Normal
Last Week: 53; Normal
Last Month: 71; Greed

The Fear & Greed Index is currently 54/100, in the Normal zone; change from yesterday: +3, from last week: +1, and from last month: -17. Lower values indicate more fearful sentiment, while higher values indicate more greedy sentiment. This does not represent price change.

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

During the report window, the bid-to-ask depth ratio across the top five order-book levels was 2.06, with 576 units on the bid side and 279 on the ask side; combined depth was still under 1,000 units. Larger orders were far from the traded price, so they offered little indication of immediate support or resistance. A shallow book can magnify price moves from relatively small orders, but it does not identify the source of selling pressure. Technical signals were bearish in the short term and neutral over longer intervals: the 15-minute moving average was bearish, while moving averages on the other intervals were neutral. ADX was below 30 across all intervals, indicating limited trend strength, and MACD gave no signal on any interval. Volume data for the same period was unavailable, and a single candlestick was insufficient to assess price-volume behavior. These order-book and technical readings apply only to the report window ending 2026-10-25 and cannot, by themselves, explain current market 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.

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sUSD (SUSD) Basics & Market Insights

Fundamentals

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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?

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