What even is a safe stablecoin at this point?
1 min read
USDC printed a -1% candle an hour ago. It’s possibly in trouble because because of it’s cash reserves being held by silvergate & SVB.
USDT has been trading slightly above the peg today, probably because people are shifting to it from USDC. The crypto community in general is on the fence about USDT and rightly so, since only about half the tether is backed by USD, the rest is bonds, metals & other investments.
BUSD isn’t safe with ongoing lawsuits & investigations into binance.
DAI: it’s decentralised, but only backed by ETH, if ETH or the crypto market crashes, DAI could become under collateralised.
Rest of the stables have such low trading volumes that it won’t take much to collapse them.
What are your thoughts, which stable are you guys holding while waiting for your buy targets?
submitted by /u/massimoed
[link] [comments]
