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Solana co-founder Anatoly Yakovenko ignited criticism from the crypto community by likening memecoins to loot boxes in mobile games. …
The Synthetix protocol’s native stablecoin, Synthetix USD (sUSD), fell to its lowest value in five years, extending a months-long struggle to maintain its $1 peg.The asset has faced persistent instability since the start of 2025. On Jan. 1, sUSD dropped to $0.96 and only rebounded to $0.99 in early February. Prices continued to fluctuate through February before stabilizing in March.On April 10, sUSD fell to a five-year low of $0.83, according to data from CoinGecko.SUSD is a crypto-collateralized stablecoin. Users lock up SNX tokens to mint sUSD, making its stability highly dependent on the market value of SNX.1-month price chart of Synthetix USD stablecoin. Source: CoinGeckoSynthetix USD’s “death spiral” risksWhen the sUSD token dropped to $0.91 on April 1, Rob Schmitt, the co-founder of the risk tokenization platform Cork Protocol, explained the potential “death spiral scenario” of the stablecoin. Schmitt said the stablecoin’s design shares similarities with Terra’s TerraUSD (UST)…
An end to the “tariff sabre rattling” may see Bitcoin rallying to $120,000 this month, Swyftx lead analyst Pav Hundal tells Cointelegraph. …