It has been a difficult week. Following the fall of the third-largest stabilizecoin (UST) as well as what was the second-largest after-blockchain, it has not been an easy week. ()The depeg contagion appears to be expanding.

UST is now completely unpegged from U.S. dollars, and trades at below $0.1 as of the writing. However, some stablecoins experienced a brief period in which they lost their dollar peg due market panic.

Upturns in the economy saw asset-backed stablecoins rise, with USDT being the exception.

Do algorithmic stablecoins have a future?