Synthetix sUSD SUSD

What SUSD actually is on-chain

Synthetix sUSD is an ERC-20 deployed on Ethereum, at contract address 0x57ab1ec28d129707052df4df418d58a2d46d5f51. That address, not the ticker SUSD, is what uniquely identifies this asset: anyone can deploy a second token calling itself SUSD, but the contract is unforgeable. Verify it against etherscan.io before sending funds or approving a spend.

Because it lives on Ethereum, SUSD is held in any EVM-compatible wallet, transfers are paid for in ETH rather than in SUSD itself, and secondary liquidity sits in Uniswap-style AMM pools. Two consequences follow for anyone setting alerts: you need ETH in the same wallet to move the token at all, and a quoted price taken from a pool is a pool price — it includes slippage that an order-book quote would not.

Another asset tracked on this site also uses the ticker SUSD: Solayer USD (Solana, susdab…iq4X). The asset on this page is specifically the Ethereum deployment at 0x57ab…5f51. These are unrelated tokens with separate contracts, separate supply and separate price histories — a price alert set on one of them says nothing about the others, and a ticker search is not enough to tell them apart.

For SUSD the project publishes a public source repository and an active account as @synthetix_io. That is a partial paper trail — enough to check claims against, not enough to audit. None of it is a quality judgement about the asset; it is simply what can be independently checked before the chart is worth looking at.

Where SUSD sits in the market

Ranked #827, Synthetix sUSD falls in the upper small-cap band. The order book absorbs size poorly at this depth: one meaningful market order can reprice the tape by several percent before it retraces minutes later. A lone static price target therefore fires on noise, and what you want is a condition built to survive that wick. Venue coverage is narrow, which makes volume-based delisting a concrete risk rather than a theoretical one.

CryptoPingAi is currently streaming 1 live SUSD order book (Gate.io). That is thinner coverage than a #827 ranking would normally imply — a move on one of these books is close to the whole market for SUSD, with no deep second venue to arbitrage it back. None of the books we see for SUSD are regulated US or Korean venues, so this is an offshore-quoted asset — availability, and the price itself, depend on which jurisdiction you trade from.

SUSD against its all-time high

More than 95% separates SUSD from its all-time high of $2.45 (on 2020-02-18) — a 28.8x recovery. At that distance the high stops working as a reference at all; it belongs to a different supply structure, a different holder base and typically a different cycle. What carries information for SUSD now is the downside, so read the range section below before this one. It was set 7 years ago. A reference that old says more about the cycle it belongs to than about the asset as it trades now.

SUSD across its historical range

The recorded range is comparatively narrow: 5.70x between $0.4297 and $2.45. Either the price history is short, or the asset is designed not to move.

At -80.2% above its record low of $0.4297 (on 2020-03-18), SUSD sits near the edge of its own price history. Nothing has traded beneath that level, so there is no support to reference, no volume shelf and no cost-basis cluster underneath. The low is old enough that it has held as a floor across multiple market regimes, which is a materially different situation from a low being freshly printed.

SUSD supply and valuation data

Synthetix sUSD sits just outside the band where circulating and total supply are independently verified, so we hold a valuation figure for SUSD but not an audited token count. What we do have is a fully diluted valuation of $24.1 million as of 2026-05-12. That is in the upper quartile of tracked assets by fully diluted value.

Since the figure is a snapshot rather than a live number, we do not reverse it into a supply count: the price has moved since it was taken, and that division would produce a confident but incorrect token count. For any per-token valuation, check the current supply on the project's own explorer first. The authoritative figure is the one etherscan.io reports for this contract.

What kind of asset SUSD is

Synthetix sUSD is pegged to the US dollar, so the only price question that matters is whether the peg holds; trend and momentum readings on a dollar peg describe noise, not direction. It is backed by on-chain collateral rather than by bank deposits, so the peg's real dependency is the collateral ratio and the liquidation engine behind it. The number to watch is not the price but the health of the collateral during a fast drawdown in the assets backing it. It is small for a stablecoin, and at this size the peg depends heavily on one or two liquidity pools; thin-book depegs here say more about liquidity than about solvency.

CoinGecko files SUSD under 10 categories, including Stablecoins, Decentralized Finance (DeFi), USD Stablecoin, Synthetic Asset, Derivatives. CoinGecko also records deployments on Arbitrum (391 tracked tokens), Ethereum (3,072 tracked tokens), Optimism (125 tracked tokens), so on-chain liquidity is split across several networks and the cheapest venue depends on which deployment you are trading.

How to set a Synthetix sUSD alert that is worth receiving

Synthetix sUSD is the ERC-20 at 0x57ab…5f51 on Ethereum — quoted on 1 venue we stream — high dated 2020-02-18 — rank #827. On this profile the condition that carries signal is a peg-deviation band of roughly ±0.5% of par, with RSI ignored entirely.

Full alert-design method: thresholds, RSI/MACD and volume conditions →