SUSD is a crypto-backed US dollar stablecoin. It has about $69.8M in circulation, ranking #64 among the stablecoins CoinScoop tracks, and runs on 4 blockchains.
SUSD price
—
No market price Circulating supply
$69.8M
30-day change
+33.2%
Price
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Blockchains
4
Tracked since
Jun 2020
What is SUSD?
SUSD is a crypto-backed US dollar stablecoin. It has about $69.8M in circulation, ranking #64 among the stablecoins CoinScoop tracks, and runs on 4 blockchains.
In the issuer's words: Synthetix is a protocol for issuing and trading synthetic assets on Ethereum. Each synthetic asset (or Synth) is an ERC20 token which tracks the price of an external asset; for example each sUSD token tracks the price of the US dollar.
SUSD supply history
$71.9M$50.3M
Jun 29, 2025Jun 23, 2026
$308M$0
Jun 7, 2020Jun 23, 2026
SUSD supply grew 33.2% over the past 30 days, to $69.8M. Its peak was $329M in September 2021, and supply is 79% below that high.
Is SUSD holding its peg?
Last price
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Target
1.0000 USD
Status
No market priceThere is no live market price for SUSD. It is not actively traded on any exchange or DEX we can see, which is common for bank-issued and permissioned stablecoins that are only minted and redeemed directly with the issuer.
Where SUSD lives: supply by blockchain
SUSD is spread across several networks. The largest, Ethereum, holds 67% of supply. Check that the token on your chain is the issuer's official contract, not a bridged copy.
How SUSD is backed
SUSD is minted against crypto collateral locked in smart contracts, usually worth more than the stablecoins issued, with liquidations or hedges protecting the peg.
Minting and redemption: An SNX holder can mint sUSD by locking their SNX as collateral via the Synthetix smart contract. sUSD can be burned to swap to another synthetic asset or to repay the debt to retrieve the collateral.
SUSD risks
Collateral and liquidations
A sharp crash in the crypto collateral can outrun liquidations and leave the system under-backed.
Smart contracts and oracles
Bugs, governance attacks or bad price feeds can drain collateral or trigger wrongful liquidations.
Bridged versions
Copies of a stablecoin moved by third-party bridges depend on those bridges. Prefer the issuer's native contract on each chain.
Regulation
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
SUSD vs USDT and USDC
Similar crypto-backed stablecoins
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SUSD in the news
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Aave’s wstETH liquidations hinge on unverified financing
Aave stewards propose fresh USDe rate changes across V3
SUSD FAQ
What is SUSD?
SUSD is a crypto-backed US dollar stablecoin. It has about $69.8M in circulation, ranking #64 among the stablecoins CoinScoop tracks, and runs on 4 blockchains.
What backs SUSD?
SUSD is a crypto-backed stablecoin. SUSD is minted against crypto collateral locked in smart contracts, usually worth more than the stablecoins issued, with liquidations or hedges protecting the peg.
Which blockchains is SUSD on?
SUSD is live on 4 blockchains. The largest by supply are Ethereum ($46.7M), OP Mainnet ($23.2M), Arbitrum ($673).
How much SUSD is in circulation?
About $69.8M of SUSD was in circulation at the last update, +33.2% over 30 days. That makes it the #64 stablecoin by supply among those we track.
Is SUSD safe?
No stablecoin is risk-free. As a crypto-backed design, SUSD's main risks are falls in collateral value that outpace liquidations, smart-contract and oracle failures, and, for hedged designs, negative funding rates or exchange counterparty risk. It currently shows "no market price" on our peg monitor. This page is information, not investment advice.