Tag: continues

Synthetix’s sUSD stablecoin continues fall after depeg, tapping $0.68

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The Synthetix protocol’s native stablecoin, Synthetix USD (SUSD), has slipped further away from its US dollar peg, reaching new all-time lows under $0.70.  However, the firm reiterates that this isn’t the first time the asset has been under significant stress, and several risk measures are in place. “Synthetix and sUSD have weathered multiple bear markets and periods of stablecoin volatility; this is not the first resilience test,” a spokesperson from Synthetix told Cointelegraph. SUSD down almost 31% from its intended 1:1 peg sUSD is a crypto-collateralized stablecoin. Users lock up…

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Blockchain adoption continues unabated — Bloomberg analyst

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Should the current rate of adoption continue, blockchain technology could have 100 million daily users by 2028, according to projections by Bloomberg Intelligence analyst Jamie Coutts.  On X (formerly Twitter), Coutts pointed out that blockchain adoption has been “unabated” throughout bull and bear markets over the past years. “Not having exposure to one of the largest structural trends of the next decade could be costly,” said the analyst. Daily active addresses exceed 5 million in the third quarter of 2023, up 14% from 2022, according to Coutts, while quarter-on-quarter growth…

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