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Would you be trusting USDC more than USDT if it repegs today?

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by COINS NEWS 94 Views

USDC is currently trading at 0.99$ and is nearing a repeg if the SVB situation is handled soon enough.

However, it still amazes me how weak the response to the depeg was overall, from the media and regulators who would usually seize the chance and start discussing how the stablecoin issuer (Circle) will be taken to court, from the market ( honestly I have expected a much bigger sellout due to this de-peg, but the markets didn't move much), and finally from social media, where people soon divided on whether or not to swap their USDC and started joking about how they expected this happening to USDT instead of USDC.

Basically everyone seems to not trust USDT (or at least that's what it looks like it on this sub), but still, this stable has ~73B$ MarketCap compared to USDC's ~40B$. While most people seems to trust it with their funds, most people seem to have a sum of their portfolio ready to short it at the least possible depeg.

I know crypto doesn't usually make sense anyway, but what do you think about the stablecoin landscape in the near future? Do you think USDT will be the crowned king after it survived the SBV crash? Or is it doomed to be an "IoU" that might expire at any moment? And will you still trust your funds with USDC?

submitted by /u/Sylerb
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