Terras Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin – Altcoins Bitcoin News - BitcoinEthereumNews.com
The algorithmic stablecoin stemming from the Terra (LUNA) network has become the third-largest stablecoin token in terms of market capitalization at $17.54 billion. As of today, USTs market capitalization has surpassed the BSC-based stablecoin BUSD by more than $67 million. Stablecoin Terrausd Surpasses BUSDs Market Valuation There‘s a new leader in the world of stablecoins, as Terra’s dollar-pegged algorithmic cryptocurrency now commands the third-largest stablecoin position, in terms of overall market valuation. Statistics indicate that terrausds (UST) issuance increased by 14.9% over the last month and currently the stablecoin has a market cap of around $17.54 billion. The stablecoin has managed to surpass BUSD, which currently has a market cap of around $17.47 billion on Monday, April 18, 2022. The milestone also means UST is the largest decentralized stablecoin under two centralized stablecoin behemoths. It is well known that the centralized stablecoin tether (USDT) is the largest stablecoin today, with a market capitalization of around $82.6 billion. The second-largest stablecoin market valuation is held by usdcoin (USDC) which has a $49.8 billion capitalization at the time of writing. While Terra‘s UST is the third largest, it only represents 21.23% of USDT’s overall value. However, Terra‘s UST represents 35.22% of USDC’s market cap today. In