How "Stable" Really Are Stablecoins?
Over the past month, some major stablecoins completely lost their peg with the U.S. Dollar, raising concerns amongst investors about their safety. Stablecoins are designed to always remain tied one-to-one to the U.S. Dollar, marketing them as relatively safe assets in an otherwise highly volatile cryptocurrency market. However, a number of prominent stablecoins have fallen like dominoes, either due to failures in their algorithmic mechanism or simply not having the sufficient reserves to maintain its peg.
Two prominent coins, TerraUSD and Tether (USDT), sparked a meltdown in the cryptocurrency markets last month after both coins slipped away from their Dollar peg. The former saw its value collapse to zero over the course of a few days, while the latter dropped below parity.
Transparency is Lacking, Even in Crypto’s Safe Space
With mounting negative press around transparency in the crypto markets, MultiBank.io finds it necessary to report these cases and educate investors on the areas of poor industry practice. Stablecoins were once considered the safe-haven assets of crypto, but the paradigm around these assets is shifting. Issues around trust and transparency are also contributing to this. For example, Tether (USDT) has been widely criticized for lacking transparency over its holdings. The group was fined $41 million by the U.S. Commodity Futures Trading Commission in 2021 over misleading reports about its stated reserves.
For years, Tether assured investors and the broader cryptocurrency market that it had $1 in reserve to back every USDT token. That claim was wildly misleading, according to a statement from the Commodity Futures Trading Commission.
In contrast, security and transparency are things that MultiBank Group takes seriously. With the inbound launch of its innovative cryptocurrency exchange – MultiBank io – the group aims to change the perception of the industry, taking action to make the market a safer place for investors, both new and experienced.
The platform is designed to protect investors’ funds and provide a secure, transparent trading platform for its users. The company is adamant when it comes to providing the highest levels of security. For example, separated client accounts and the use of tier 1 banks are just some examples of the Groups commitment to client safety and security.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 90.4% | 4 | $26 218.55 | -0.02% | -3.59% | $511 196 515 031 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 94.4% | 6 | $1 597.25 | 0.52% | -1.97% | $192 043 804 309 |  |
|
| 3 |  USDT |
Tether predictions | 92.8% | 1 | $0.999393 | -0.02% | -0.07% | $83 216 323 348 |  |
|
| 4 |  BNB |
Binance Coin predictions | 91.6% | 4 | $212.39 | 0.21% | -1.59% | $32 675 571 293 |  |
|
| 5 |  XRP |
XRP predictions | 91.6% | 8 | $0.500834 | -0.45% | -3.34% | $26 667 020 059 |  |
|
| 6 |  USDC |
USD Coin predictions | 93.6% | 1 | $1.000140 | 0.01% | 0% | $25 526 084 558 |  |
|
| 7 |  STETH |
Lido stETH predictions | 95.6% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 8 |  WTRX |
Wrapped TRON predictions | 85.6% | 16 | $0.085027 | 1.22% | 0.41% | $8 645 259 106 |  |
|
| 9 |  ADA |
Cardano predictions | 90% | 10 | $0.243860 | -0.68% | -4.34% | $8 566 448 827 |  |
|
| 10 |  DOGE |
Dogecoin predictions | 91.6% | 6 | $0.060530 | -0.04% | -2.87% | $8 545 665 488 |  |
|
| 11 |  SOL |
Solana predictions | 84.8% | 23 | $18.95 | -1.50% | -6.08% | $7 822 537 875 |  |
|
| 12 |  TRX |
TRON predictions | 85.6% | 20 | $0.085393 | 0.76% | 0.94% | $7 608 230 077 |  |
|
| 13 |  TON |
Toncoin predictions | 58.8% | 86 | $2.17 | -0.32% | -11.65% | $7 436 545 214 |  |
|
| 14 |  DAI |
Dai predictions | 91.2% | 1 | $0.998858 | -0.10% | -0.08% | $5 341 779 536 |  |
|
| 15 |  DOT |
Polkadot predictions | 85.2% | 16 | $4.00 | -0.40% | -2.74% | $4 914 191 326 |  |
