Stablecoins are systemically important in cryptocurrency markets, so even the slightest depeg can cause mass market contagion.
As such, it is concerning that stablecoins have been particularly volatile since the start of 2023
TUSD wobbled amid Prime Trust's closure, USDT depegged due to mysterious selling activity, BUSD has been increasingly volatile since Paxos halted issuance, and USDC crashed during the March banking crisis.
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