UST 2.0: USDC stablecoin breaks peg and is now trading below $1, more reason to adopt HBD.

Scary times for stablecoin

Stablecoin was meant to be a safe haven for us to keep our money safe from getting devalued when fiat currency's value and buying power are been depleted by the high rise of inflation and also from the crypto aspect the volatility of the crypto market barely affects stablecoin unlike it affects other crypto projects, but in recent times stablecoin are becoming the target of a lot of FUD news and this is a scary time for stablecoins apart from Hive Backed Dollar (HBD), other stablecoins have been going through a lot in the bear market that has been on since Bitcoin hit its all-time high at $69k and crashed of dipped, and it has been dipping ever since.

UST which is Terra Lab's stablecoin was the first to depeg and crashed to zero earlier last year when Luna crashed which was the first major gut blow to the entire crypto market, as that news crashed the entire crypto market and made people to be scared of crypto which led to them panic selling. The Terra Lab's stablecoin (UST) crash was due to Luna's collapse, while Binance USD (BUSD) a fiat-backed stablecoin issued by Paxos, BUSD was recently attacked and forced to stop minting because the United States Securities and Exchange Commission (SEC) would not stop FUDing Paxos.

USDT itself has had its fair share of FUDing which at that time everyone thought it would depeg and fall like UST but it did not and it is still very relevant right now, as for USDC, today has been an unfortunate day for them as it has depeg and currently trading below $1, it has even fallen down as low as $0.83 due a lot of peoples reactions to their Silicone Valley Bank relations, I hope USDC does not become UST 2.0 and crash to Zero.

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