04-19-2022, 09:21 PM
Terra's UST is now the 3rd largest stablecoin, after surpassing BUSD in market cap
<!-- SC_OFF --><div class="md"><p>According to CoinGecko, the market value of Terra's stablecoin UST reached $17.5 billion on April 18, surpassing BUSD's $17.4 billion, becoming the third-largest stablecoin after USDT and USDC. Still, UST’s trading volume is very low being 1/5 transactions volume as compared to BUSD.</p> <p>​</p> <blockquote> <p>DO Kwon tweeted that he's not even aiming for BUSD but going for the big head aka USDT in reference to this quote: </p> <p>"Just need to 5x, and web3 gets to run on its own sovereign money Hold my beer !" </p> <p>in layman language: USDT market cap being 80 Billion plus</p> </blockquote> <p>Obviously, if this happens, we once should assume that LUNA price will also spike up as LUNA is burn to mint UST...</p> <p><strong>Thoughts ?</strong></p> <p>​</p> <p><a href="https://twitter.com/stablekwon/status/1516300390131965953">Source 1</a></p> <p><a href="https://coinquora.com/terras-ust-outlasts-busd-becomes-third-largest-stablecoin/">Source 2</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/callmemrsunshine"> /u/callmemrsunshine </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/u6yj0k/terras_ust_is_now_the_3rd_largest_stablecoin/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/u6yj0k/terras_ust_is_now_the_3rd_largest_stablecoin/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>According to CoinGecko, the market value of Terra's stablecoin UST reached $17.5 billion on April 18, surpassing BUSD's $17.4 billion, becoming the third-largest stablecoin after USDT and USDC. Still, UST’s trading volume is very low being 1/5 transactions volume as compared to BUSD.</p> <p>​</p> <blockquote> <p>DO Kwon tweeted that he's not even aiming for BUSD but going for the big head aka USDT in reference to this quote: </p> <p>"Just need to 5x, and web3 gets to run on its own sovereign money Hold my beer !" </p> <p>in layman language: USDT market cap being 80 Billion plus</p> </blockquote> <p>Obviously, if this happens, we once should assume that LUNA price will also spike up as LUNA is burn to mint UST...</p> <p><strong>Thoughts ?</strong></p> <p>​</p> <p><a href="https://twitter.com/stablekwon/status/1516300390131965953">Source 1</a></p> <p><a href="https://coinquora.com/terras-ust-outlasts-busd-becomes-third-largest-stablecoin/">Source 2</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/callmemrsunshine"> /u/callmemrsunshine </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/u6yj0k/terras_ust_is_now_the_3rd_largest_stablecoin/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/u6yj0k/terras_ust_is_now_the_3rd_largest_stablecoin/">[comments]</a></span>Kind Regards R