HBD and it's Stability

HBD, the Hive Backed Dollar is said to be the stablecoin of Hive blockchain. A stablecoin means it has to be pegged to U.S. dollar.

That being said one stablecoin should equal one dollar.

Now looking at the price of of HBD right now, it is pricing at $0.94 on coinmarketcap.

Have a look at one month price chart of HBD om coinmarketcap.

I don't think HBD could register its name in place competing with the top Stablecoins out there in the market if it fluctuates like this.

This is how it looks for the biggest stablecoin USDT in the market.

Somehow, it HBD has to find a way of getting stable. And probably for this reason HBD may not be listed on bigger exchanges like Binance, Coinbase etc as stablecoins are supposed to be stable.

What are your thoughts on this?