Are Stablecoins Really a Safe Haven in Crypto or a Black Swan Waiting to Burst?
Stablecoins have radically changed the crypto industry. Most of us agree that the industry has changed for the better because of stablecoins.
However, there still are risks with various stablecoins. Tether (USDT) is the most cited risk.
In this clip from the LeoFinance podcast, @scaredycatguide talks about Tether being a potential black swan event waiting to happen.
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
▶️ 3Speak
0
0
0.000
Congratulations @khaltok! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):
Your next target is to reach 2500 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out the last post from @hivebuzz:
Support the HiveBuzz project. Vote for our proposal!
I think the usdt is a more better hedge for a stable coin. Don't know long it will keep it's peg due to news surrounding it but till then it remain one of the best safe haven.
Definitely i will say we do have some stable coin for now,like the USD and DAI too,but let see how well they tend to remain stable as I think their will be more competition too from other coin.
But can't really say how long this will be,but for now I still see this two as one stable coin
I believe the stable coin really have a positive role to play in the blockchain and is really making that path of working in a good dimension with the 12% interest applied to it. I believe it's a good way forward.
Right now base on my assessment I will definitely be on the side of taking stable coin as a safe heaven in the crytpto world as they still tend to maintain their stand and strength irrespective of the market wave on most occasion
USDT is always considered a risk for the entire crypto industry. It gave the whole market an edge. Users could not do park profits when the stablecoins were not around. I still believe that strong regulations to regulate the crypto market properly will eventually mitigate the risk associated with stablecoins. This could also mean the rise of algo stables like HBD but they have its own set of problems.