We all know that crypto can be volatile, making an option like stablecoins extremely useful to quickly provide shelter from volatility. Stablecoins serve a unique but practical role in the crypto economy and have grown in popularity over the years. 

Due to their widespread utility, it is critical that stablecoins be reliable and, unsurprisingly, stable. The meltdown of Terra's algorithmic stablecoin in May proved exactly how important that is. This catastrophe highlighted the need for stablecoins to operate in transparency so that investors and users can be confident that another situation like Terra [now Terra Classic (CRYPTO: LUNC)] won't happen again. 

Now that Terra has lost nearly all credibility with investors, stablecoin users have flocked to two alternatives in particular -- Tether (CRYPTO: USDT) and USD Coin (CRYPTO: USDC).

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Source Fool.com