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, UST’s market capitalization has surpassed the BSC-based stablecoin BUSD by more than $67 million.
Stablecoin Terrausd Surpasses BUSD’s 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 terrausd’s (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) i
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