Could massive crash impact stable coins? like USDC or BUSD
For example if we will have a massive crash due to regulation and BTC is going to 5-12k how would it effect stable coins?
Obviously people convert there Bitcoin and altcoin to stablecoins on market crash so the stablecoins price usually valued above the 1$ pegged due to the increasing demand. There’s no way it will crash like UST did because all the USDT that converts into fiat automatically burns out of the circulating supply that control the price. The only way a stablecoin will crash is a direct attack on its market.