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Synthetix’s Stablecoin sUSD Depegs to Below $0.92 Twice This Week

Stablecoin sUSD, the synthetic dollar-pegged asset from Synthetix slipped below its dollar peg yesterday, April 2. The stablecoin lost its peg earlier this week, on March 31, as well. Synthetix is the seventh-largest derivatives protocol by total value locked (TVL) . Synthetix’s sUSD fell 4.6% from $0.96035 to $0.91608 in the early hours of March 31, according to CoinGecko data . Since then, the stablecoin retraced, before dipping back just above $0.91 again on Wednesday morning, over 8% below its dollar peg. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io CoinOtag

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TON`s Dramatic Volatility Signals Market Uncertainty

Market Recovery Amid Institutional Confidence The cryptocurrency market remains in turbulent territory as Toncoin (TON) demonstrates both significant volatility and remarkable resilience. After forming a head-and-shoulders pattern with strong resistance at $4.15, TON has recovered from its recent lows. It is now trading at $4.13 with a 12.5% weekly gain. This recovery comes amid news that leading venture capital firms, including Sequoia, Ribbit Capital, and Benchmark, collectively hold over $400 million in TON, signaling institutional confidence in the blockchain`s future. TON Technical Analysis Highlights Price action formed a head-and-shoulders pattern with resistance at $4.15 and support at $3.60. The support level at $3.60 was breached during the April 3rd selloff. Volume analysis shows distribution phases coinciding with price peaks, suggesting institutional profit-taking. Fibonacci retracement indicates potential stabilization around the 0.618 level at $3.58. Cup-and-handle formation appeared during recovery with initial resistance at $3.58. Strong buying pressure was observed during the 15:32-15:34 and 15:58 periods. Price reclaimed the Fibonacci 0.382 level at $3.59, suggesting potential continuation toward $3.65. Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk’s full AI Policy . This article may include information from external sources, which are listed below when applicable. TheNewsCrypto, “ Toncoin (TON) Eyes $4 as Bullish Momentum Builds ,” accessed April 3, 2025 CryptoNews, “ Is This the Next Solana? Toncoin’s $400 Million VC Investment Surge Signals Explosive Upside ,” accessed April 3, 2025 CryptoDaily, “ AI Predicts 12,500% Gains for Remittix (RTX), 232% for Chainlink (LINK) — But to Sell Toncoin (TON), Shiba Inu (SHIB) Fast ,” accessed April 3, 2025 TheNewsCrypto, “ Toncoin (TON) Price Prediction ,” accessed April 3, 2025 Bitcoin Sistemi, “T op Crypto Platforms: Binance Coin, BlockDAG, Tron, Toncoin Poised for Major Growth in 2025 ,” accessed April 3, 2025 CoinOtag