{"id":488354,"date":"2022-04-19T07:50:25","date_gmt":"2022-04-19T07:50:25","guid":{"rendered":"https:\/\/wncen.com\/?p=488354"},"modified":"2024-06-11T14:19:16","modified_gmt":"2024-06-11T14:19:16","slug":"conquering-terrain-terras-stablecoin-ust","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/conquering-terrain-terras-stablecoin-ust\/","title":{"rendered":"Conquering Terrain: Terra’s Stablecoin UST Is Now Crypto’s Third Biggest"},"content":{"rendered":"
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Terra’s US dollar-pegged algorithmic cryptocurrency UST is moving up the ladder and now ranks third in terms of overall market capitalization.<\/p>\n

Today, the fast-growing Terra USD (UST) stablecoin from the Terra ecosystem passed another pivotal point, reaching a market valuation of more than $17 billion.<\/p>\n

As of Tuesday, UST had eclipsed the BSC-based stablecoin BUSD in market capitalization by more than $67 million.<\/p>\n

To mint an equivalent amount of UST, a user must burn a reserve asset such as Terra (LUNA).<\/p>\n

UST Making Headlines<\/h2>\n

This year, the Terra blockchain network has been the talk of the crypto world. Following its participation in the broader market downturn over the weekend, Terra’s native cryptocurrency LUNA has had the highest 24-hour bounce.<\/p>\n

Terra (LUNA) is currently trading 15% higher at $90, with a market valuation of $32 billion. Terra has surpassed Cardano’s ADA to become the eighth-largest cryptocurrency by market cap as a result of this development.<\/p>\n

As of this writing, the leading stablecoin is Tether (USDT), which has a market cap of $82 billion. USD Coin (USDC) is ranked second with a market cap of nearly\u00a0$50\u00a0billion.<\/p>\n

Suggested Reading | Terra (LUNA) Outperforms Popular Cryptos Ether, Dogecoin In The Past 24 Hours<\/a><\/em><\/strong><\/p>\n

<\/p>\n

LUNA total market cap at $31.10 billion on the daily chart | Source: TradingView.com<\/a><\/pre>\n
UST is formed by burning a single terra (LUNA), the Terra network’s original crypto currency.<\/p>\n
Other sorts of decentralized stablecoin projects, such as Makerdao’s DAI, rely on an over-collateralization procedure to maintain the token’s peg to the dollar.<\/p>\n
The value of Terra’s stablecoin UST has increased exponentially during the last 509 days, or 16 months.<\/p>\n
Additionally, recent data indicates that UST has been on a stratospheric rise since mid-November, with the market cap jumping by 525 percent.<\/p>\n
Lower Trade Volume<\/h2>\n
Despite outperforming BUSD in terms of market capitalization, UST trades at a far lower volume compared to its immediate competition, with Binance’s stablecoin witnessing $2.25\u00a0billion in trading volume over the last 24 hours compared to UST’s $431.78\u00a0million.<\/p>\n
On the other hand, Terra has recently made headlines for its Bitcoin acquisition. The Luna Foundation Guard (LFG), its parent organization, has acquired approximately 30,000 BTC to act as a peg and reserve for its UST stablecoin.<\/p>\n
But, it has a lot going on behind the scenes. LFG intends to acquire a total of 410 billion dollars’ worth of Bitcoin.<\/p>\n
However, similar to the broader crypto market in recent months, bullish pronouncements are doing nothing to boost the price of LUNA.<\/p>\n
The token’s price has fallen 12.5% in the last 30 days to $77.30, and it has also retreated\u00a034.3\u00a0percent since reaching an all-time high of $119.18 on April 5.<\/p>\n
Suggested Reading | Bitcoin Clings To $40K On Easter Sunday As Crypto Seen To Head Lower In The Short Term<\/a><\/em><\/strong><\/p>\n<\/div>\n
Featured image from Cryptonary, chart from TradingView.com<\/a><\/pre>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
Terra’s US dollar-pegged algorithmic cryptocurrency UST is moving up the ladder and now ranks third in terms of overall market capitalization. Today, the fast-growing Terra USD (UST) stablecoin from the Terra ecosystem passed another pivotal point, reaching a market valuation of more than $17 billion. As of Tuesday, UST had eclipsed the BSC-based stablecoin BUSD in market capitalization by more than $67 million. To mint an equivalent amount of UST, a user must burn a reserve asset such as Terra (LUNA). UST Making Headlines This year, the Terra blockchain network has been the talk of the crypto world. Following its participation in the broader market downturn over the weekend, Terra’s native cryptocurrency LUNA has had the highest 24-hour bounce. Terra (LUNA) is currently trading 15% higher at $90, with a market valuation of $32 billion. Terra has surpassed Cardano’s ADA to become the eighth-largest cryptocurrency by market cap as a result of this development. As of this writing, the leading stablecoin is Tether (USDT), which has a market cap of $82 billion. USD Coin (USDC) is ranked second with a market cap of nearly\u00a0$50\u00a0billion. Suggested Reading | Terra (LUNA) Outperforms Popular Cryptos Ether, Dogecoin In The Past 24 Hours LUNA total market cap at $31.10 billion on the daily chart | Source: TradingView.com UST is formed by burning a single terra (LUNA), the Terra network’s original crypto currency. Other sorts of decentralized stablecoin projects, such as Makerdao’s DAI, rely on an over-collateralization procedure to maintain the token’s peg to the dollar. The value of Terra’s stablecoin UST has increased exponentially during the last 509 days, or 16 months. Additionally, recent data indicates that UST has been on a stratospheric rise since mid-November, with the market cap jumping by 525 percent. Lower Trade Volume Despite outperforming BUSD in terms of market capitalization, UST trades at a far lower volume compared to its immediate competition, with Binance’s stablecoin witnessing $2.25\u00a0billion in trading volume over the last 24 hours compared to UST’s $431.78\u00a0million. On the other hand, Terra has recently made headlines for its Bitcoin acquisition. The Luna Foundation Guard (LFG), its parent organization, has acquired approximately 30,000 BTC to act as a peg and reserve for its UST stablecoin. But, it has a lot going on behind the scenes. LFG intends to acquire a total of 410 billion dollars’ worth of Bitcoin. However, similar to the broader crypto market in recent months, bullish pronouncements are doing nothing to boost the price of LUNA. The token’s price has fallen 12.5% in the last 30 days to $77.30, and it has also retreated\u00a034.3\u00a0percent since reaching an all-time high of $119.18 on April 5. Suggested Reading | Bitcoin Clings To $40K On Easter Sunday As Crypto Seen To Head Lower In The Short Term Featured image from Cryptonary, chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":488355,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83386,3,4,85583],"tags":[83641,15241,65698,4100,85059],"class_list":["post-488354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-news","category-analysis","category-terra-luna","tag-luna","tag-stablecoins","tag-terra","tag-tether","tag-ust"],"acf":[],"yoast_head":"\nConquering Terrain: Terra's Stablecoin UST Is Now Crypto's Third Biggest<\/title>\n<meta name=\"description\" content=\"Terra's US dollar-pegged algorithmic cryptocurrency UST is moving up the ladder and now ranks third in terms of overall market capitalization. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Conquering Terrain: Terra’s Stablecoin UST Is Now Crypto’s Third Biggest","url":"http:\/\/wncen.com\/news\/conquering-terrain-terras-stablecoin-ust\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/conquering-terrain-terras-stablecoin-ust\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/UST.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/UST.png?fit=867%2C453"},"articleSection":"Crypto","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["luna","stablecoins","terra","tether","ust"],"dateCreated":"2022-04-19T07:50:25Z","datePublished":"2022-04-19T07:50:25Z","dateModified":"2024-06-11T14:19:16Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Conquering Terrain: Terra’s Stablecoin UST Is Now Crypto’s Third Biggest\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/conquering-terrain-terras-stablecoin-ust\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/conquering-terrain-terras-stablecoin-ust\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/UST.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/UST.png?fit=867%2C453\"},\"articleSection\":\"Crypto\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"luna\",\"stablecoins\",\"terra\",\"tether\",\"ust\"],\"dateCreated\":\"2022-04-19T07:50:25Z\",\"datePublished\":\"2022-04-19T07:50:25Z\",\"dateModified\":\"2024-06-11T14:19:16Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/04\/UST.png?fit=867%2C453","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/488354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=488354"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/488354\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/488355"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=488354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=488354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=488354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}