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I was lucky that I have the scepticism on stablecoins, haven't lost much from the slaughter.
1) Most people put money in stablecoin because they don't want to cash out, simply because of tax purpose. 2) Most stablecoins are not algorithmic peg. 3) Everyone follows suit to create their own stablecoin, ie fantom
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@0xb69308fba4929c57ad273641dff564efa743f09b It depends of the volume that back the stablecoin you consider, for example usdc stay strong in my opinion.
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@0xb69308fba4929c57ad273641dff564efa743f09b correction. most stablecoins are not a hybrid of algorithmic and collateral.
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@MillionTokenCloud USDC is held by circle and coinbase. Grant Thomson said this: "Our responsibility is to express an opinion on the Reserve Account Information in the accompanying Reserve Account Report based on our examination. " We can't certainly know how much is coinbase is holding for USDC.
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@0xb69308fba4929c57ad273641dff564efa743f09b As we saw in the market, usdc is more trusted, it unpeged above 1$ during this global fall down. ;) BUSD hold also. So maybe not the best stablecoin, but market speaks for itself. ;)
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