What happened to DAI?
Many inexperienced participants were frightened by the unexpected drop in the price of DAI. How could this happen?! After all, it's a stablecoin!
The reason for this was the fall of the stablecoin USDC, whose issuer, Circle, held $3.3 billion in collateral in Silicon Valley Bank, which collapsed (the second-largest bank failure in US history).
At the same time, DAI is largely backed by USDC.
Experienced users remember that this happens every time there is a bear market and cryptocurrency holders are intimidated by all means.
Stablecoin USDT collapsed even more, while USDC has recently been advertised as the "most reliable" - after all, it is backed by "real" dollars in "real" banks.
But once again we see that centralized systems, with their banks and government institutions, are all a bubble and a fiction of stability.
Centralized state systems strive to maintain their hegemony, causing damage to the global economy and development. But constructive decentralized forces will ultimately prevail.
There are no guaranteed types of currencies and cryptocurrencies, so we need to study diversification (this is planned in our Meta Force Academy).
Nevertheless, it is most likely that the stablecoin will be restored, as it has happened before.
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