Recently, no stable coin has started to seem reliable. Rumors fear rumors are constantly going on stablecoins. Inevitably, there is a feeling that they will be controlled more and cause a problem. USD C rocked after banking events. Stable coins in the market are always very sensitive, so you have to be careful. Nowadays, everyone has started to exchange their stabil coin assets, there is a difference in being a little calmer.
I think that is already expected because stable coins are mostly centralized so they are subject to controls but there are different reasons on why a stable coin can collapse. Others collapsed because they have a shady team. For the recent one which is USDC. I heard that the banks where they keep their money which is SVB are badly affected by the FEDs interest hike but we got a good news earlier which said that the US government are funding them to cover up the losses. That is why USDC value is now recovering again.
USDT and BUSD have also experienced the same thing before in which their value have also drop but managed to recover later on. I only don't know if what is the cause of it but I think these top stable coins including USDC can still be trusted by the people.
