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Terra’s UST becomes first decentralized stablecoin to hit $10B market cap
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ambcrypto.comOne of the biggest growth areas in the crypto-space this year is undoubtedly the stablecoin market. In fact, as per a report, the largest stablecoin issuers have increased 500% over the past 12 months. UST, one of the stablecoins in the Terra ecosystem, has recorded some impressive figures within this sphere.
It overturned DAI’s reign as the largest decentralized stablecoin by market cap, making it one of the top 22 crypto-projects by market cap.
Terra USD/UST has also added to its market dominance with a hike in share from 0.67% to over 6% in 2021, with barely any exchange listings. Do Kwon, the founder of Korean blockchain project Terra, believes that demand for his US dollar-pegged stablecoin could increase “rapidly” early in 2022.
Well,
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