The post Are Stablecoins Really Safe? S&P Report Reveals the Dark, Unstable Truth! appeared first on Coinpedia Fintech News
A new report from S&P Global has found that stablecoins, which are supposed to be the digital currency world’s safe havens, are not as stable as they seem.
Analysts Dr. Cristina Polizu, Anoop Garg, and Miguel de la Mata unveiled findings that show USD Coin (USDC) and Multi-Collateral Dai (DAI) experiencing significant depegging events, a phenomena where these coins deviate from their $1 value, casting a shadow on their stability credentials. The Stablecoins covered under their report included Tether (USDT), USD Coin (USDC), Multi-Collateral Dai (DAI), Binance USD and USDP Dollar (USDP)
Volatility Increases
The research shows USDC and DAI have strayed further and more frequently from their $1 peg compared to rivals like Tether (USDT) and Binance USD (BUSD). In March 2023, a banking crisis led by the collapse of Silicon Valley Bank (SVB) saw USDC plummet
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