NBER Study Warn Say Risk High Say Run Go Happen for Tether and USDC
One new study from di National Bureau of Economic Research (NBER) show say di main stablecoins get plenty run risk, dem estimate say yearly run chance be 3.9% for Tether (USDT) and 3.3% for USDC. Dis kain "stablecoin run risk" high pass wetin FDIC-insured bank accounts get by almost 4,000 times. Di research show one kain paradox: stablecoins wey depend on plenty centralized arbitrageurs to keep their dollar peg tend to get more chance to face big withdrawals during crisis, as investors fit rush commot. But coins wey get fewer but bigger arbitrageurs fit better protect their reserves wen stress dey. As lawmakers dey talk about stablecoin law, di study dey call for strong regulatory frameworks to fix dis design wahala and make market stable.
Bearish
Di study dem find dem dey undermine confidence for di stability of major stablecoins. High "stablecoin run risk" mean say for stress time traders fit rush run comot, wit draw all di liquidity and make market volatility worse. For short term, dis fit cause price swing all over crypto markets as leverage dey unwind and margin calls dey get strong. Historically, tins like di TerraUSD collapse show how loss of confidence fit spread through DeFi and spot markets. For long term, di design flaws wey never fix and regulatory uncertainty fit reduce institutional adoption and slow overall crypto growth. So, di report warning dey point to bearish outlook, press traders make dem rethink their stablecoin exposure and manage risk more conservative.