The biggest decentralized stablecoin in the market is now Terra USD (UST)

2021-12-21 18:30

The long-held reign of DAI as the leading decentralized stablecoin, by market cap, has come to an abrupt end. One of the stablecoins within the Terra ecosystem, UST, now sits in the pole position of the largest decentralized stablecoin by market cap, earning UST a seat among the top 20 crypto projects by market cap.

UST is now the largest decentralized stablecoin by market cap

UST reached this milestone after unseating its Ethereum-based rival, DAI. Available information shows that as of the start of 2021, the market cap of UST stablecoin was around $200 million. However, it went beyond $9 billion in December, representing a 5 times growth.

Aside from the fact that UST now ranks first among its class, it has equally become the overall fourth-largest stablecoin by market cap. It is behind more illustrious centralized competitors like USDT, USDC, and BUSD, who enjoy backings from top crypto firms like Binance, Circle, and Bitfinex.

Being an algorithmic stable coin, UST utilizes a token on the Terra blockchain to maintain its peg against the U.S Dollars.

The stablecoin market has risen rapidly in 2021

One of the largest growing sectors of the crypto space this year is undoubtedly the stablecoin market. According to a report submitted by the Treasury Department, there has been a 500% increase in the market cap of the largest stablecoin issuers in the last 12 months.

Due to this exponential growth, regulators around the world, in Japan and the U.S for example, have become increasingly worried and interested about the operations of these issuers. Authorities in the U.S have posited that only insured depository institutions should be allowed to issue stablecoins.

This view, however, is being frowned upon by the crypto community as they question why major stablecoin issuers are not being granted bank charters.

Just recently, Senator Elizabeth Warren also mentioned how the astronomic growth of the stablecoin market could have a debilitating effect on the economy of the United States.

The post The biggest decentralized stablecoin in the market is now Terra USD (UST) appeared first on CryptoSlate.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market stablecoin decentralized terra ust usd biggest

Источник: cryptoslate.com

market stablecoin → Результатов: 126


Is stablecoin growth accelerating call for hyperbitcoinization in the market?

The 12 March market crash resulted in stablecoins surging, both in terms of supply and market share. The world's largest stablecoin by market cap, Tether (USDT), has maintained its 4th position on CoiThe post Is stablecoin growth accelerating call for hyperbitcoinization in the market? appeared first on AMBCrypto.

2020-4-25 15:30


Фото:

Stablecoin Market Caps Swell Over $7 Billion – Volumes Surpass Most Trading Pairs

While most digital assets have been suffering, stablecoins have been surging since the market downturn in mid-March and tether (USDT) is capturing more than 70% of BTC trades today. Besides tether, a wide range of other dollar-pegged cryptocurrencies have also benefited this month, as the market valuation of eight different stablecoins combined is well over […] The post Stablecoin Market Caps Swell Over $7 Billion – Volumes Surpass Most Trading Pairs appeared first on Bitcoin News.

2020-3-31 02:30


Фото:

Coinbase’s USDC Stablecoin Racing to Catch USDT’s Market Cap

Stablecoins have become an important aspect of the cryptocurrency space, and have also become big business with some of the prominent names in the space launching their own iterations. However, even with Coinbase, Binance, and PAX all launching a stablecoin in the last couple of years one stablecoin is still hugely dominant in this sector […] The post Coinbase’s USDC Stablecoin Racing to Catch USDT’s Market Cap appeared first on BeInCrypto.

2020-3-4 20:10


Tether blockchain integrates AML compliance solution from Chainalysis

Chainalysis, the blockchain analysis company, today announced the integration of its compliance solution for Tether, the largest stablecoin blockchain platform by market capitalization. Chainalysis Know Your Transaction (KYT) for token issuers is a real-time anti-money laundering (AML) compliance solution for monitoring a token’s full lifecycle, from issuance to redemption.

2020-2-13 15:05


Pornhub adds support for Tether following PayPal’s ban last year

Pornhub, a leading adult entertainment website, recently began supporting a new cryptocurrency payment method after PayPal ended support for the company’s models last year. Pornhub’s management notes that it will now accept major stablecoin Tether, which maintains a one-to-one peg with the US dollar and currently has a market capitalization of over $4.

2020-1-23 19:06


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Daniel Shin denies hand in Terra’s collapse

Lawyers for Daniel Shin, co-founder of Terraform Labs, told a South Korean court that he did not contribute to Terra’s collapse in any way after being charged with fraud and embezzlement.

Terra’s Do Kwon Arrested in Montenegro

Terra frontman Do Kwon was apprehended at Podgorica airport by Montenegrin police. He was previously believed to be hiding in Serbia. Six Months on the Run The law has finally...