Financial services firm NYDIG disputes the stability of stablecoins, revealing market forces drive price fluctuations rather than inherent pegs. This contradicts claims that these assets are tied to the dollar and exposes vulnerabilities in algorithmic stablecoins during recent market downturns. The findings highlight investor concerns regarding their reliability as stablecoin prices have experienced significant swings, raising questions about market perception and trading strategies. NYDIG’s research challenges the notion of a true peg for USDC and USDT, arguing that their price fluctuations are a result of market dynamics rather than inherent stability. This underscores the need for clearer understanding and risk management in the volatile crypto landscape.