According to This year Data has been one of the toughest for the cryptocurrency market.

The bears managed to hit even the stablecoins that could not maintain their peg with the U.S. dollar. USTC, formerly Terraform Labs' stablecoin,

for example, lost its peg with the U.S. currency in May, putting heavy downward pressure on other blockchain assets.

Another algorithmic stablecoin that has been struggling to stay paired with the dollar is USDD, Tron's stablecoin. On June 19, 2022, the altcoin fell to $0.93, and since Nov. 27, it has failed to return to trading at $1.

Moreover, it is not just algorithmic stablecoins that are being negatively impacted this year. USDT, citing an analogous case, despite being the main stablecoin asset on the crypto market, has also had its down days in 2022, moving away from the $1 mark at times.

The trajectory of the giants USDC and BUSD has been no different. Even at the time of writing, Circle's stablecoin is trading at $0.99.