Stablecoins are currently an indispensable tool in the world of cryptocurrencies. Traders actively use them on exchanges for trading. And most often, if necessary, they exchange stablecoins for fiat. Now, thanks to this technology, trading has become convenient and fast.
It cannot be said that the collapse of UST was the cause of the bear market, as many factors contributed to this: the macroeconomic and political situation in the world, the withdrawal of funds to fiat by large players, the increase in the Fed rate, and so on…
Of course, due to the collapse of UST, there was more negativity in the market, which scared off new and old investors to fund in cryptocurrencies or hold money, especially in stablecoins.
Since stablecoins have become an indispensable tool in the world of cryptocurrencies, they will continue to be used, and their developers and we can only learn from the negative experience of Terraform Labs.