{"id":433364,"date":"2022-04-18T08:09:38","date_gmt":"2022-04-18T05:09:38","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/terras-ust-flips-busd-to-become-third-largest-stablecoin\/"},"modified":"2022-04-18T08:09:38","modified_gmt":"2022-04-18T05:09:38","slug":"terras-ust-flips-busd-to-become-third-largest-stablecoin","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/terras-ust-flips-busd-to-become-third-largest-stablecoin\/","title":{"rendered":"# Terra&#8217;s UST flips BUSD to become third-largest stablecoin"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a29fbb79a1bd\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a29fbb79a1bd\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/terras-ust-flips-busd-to-become-third-largest-stablecoin\/#%E2%80%9D_Terras_UST_flips_BUSD_to_become_third-largest_stablecoin_%E2%80%9C\" >&#8221; Terra&#8217;s UST flips BUSD to become third-largest stablecoin &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Terras_UST_flips_BUSD_to_become_third-largest_stablecoin_%E2%80%9C\"><\/span>&#8221; Terra&#8217;s UST flips BUSD to become third-largest stablecoin &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>The Terra (LUNA) blockchain\u2019s algorithmic stablecoin Terra USD (UST) has flipped Binance USD (BUSD) to become the third-largest stablecoin on the market. <\/p>\n<p>UST is a USD-pegged stablecoin that was launched in September 2020. Its minting mechanism requires a user to burn a reserve asset such as LUNA to mint an equivalent amount of UST. <\/p>\n<p>According to Coingecko, UST\u2019s total market capitalization has surged 15% over the past 30 days to sit at roughly $17.5 billion at the time of writing. The figure currently places UST as the third-largest stablecoin after it flipped BUSD with a slightly lower market cap of $17.46 billion. <\/p>\n<p>The asset now trailing only behind industry giants Tether (USDT) at $82.8 billion, and USD Coin (USDC) at $50 billion, however, the gap is quite substantial at this stage. <\/p>\n<p>The data also shows that UST has been on a meteoric pump since mid-November, with the market cap increasing by 525% since then. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/c250ea1d-151a-4435-b649-15b76159f656.png\"><figcaption style=\"text-align: center;\"><em>UST Market cap: Coingecko<\/em><\/figcaption><\/figure>\n<p>Despite flipping BUSD in terms of market cap, UST is trading in volumes well below its im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te competitor, with Binance\u2019s stablecoin seeing $2.26 billion worth of trading volume over the past 24 hours compared to UST\u2019s $431.79 million.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">According to CoinGecko, the market value of Terra&#8217;s stablecoin UST reached $17.5 billion on April 18, surpassing BUSD&#8217;s $17.4 billion, becoming the third-largest stablecoin after USDT and USDC. But UST\u2019s trading volume is very low, only 1\/5 of BUSD.<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1515897770254626821?ref_src=twsrc%5Etfw\">April 18, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Terra has been grabbing the headlines of late, due in part to co-founder Do Kwon who recently vowed that the project will accrue a whopping $10 billion worth of Bitcoin (BTC) to back its UST reserves. <\/p>\n<p><strong><em>Related <\/em><\/strong><strong><em>Terraform Labs gifts another $880M to Luna Foundation Guard<\/em><\/strong><\/p>\n<p>Much like the wider crypto market of late, however, bullish announcements are doing little to push the price of LUNA upwards. The token\u2019s price is down 12.4% over the past 30 days to sit at $77.31, while it is also down 34.4% since its brief all-time high of $119.18 on April 5.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/terra-s-ust-flips-busd-to-become-third-largest-stablecoin\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Terra&#8217;s UST flips BUSD to become third-largest stablecoin &#8220; The Terra (LUNA) blockchain\u2019s algorithmic stablecoin Terra USD (UST) has flipped Binance USD (BUSD) to become the third-largest stablecoin on the market. UST is a USD-pegged stablecoin that was launched in September 2020. Its minting mechanism requires a user to burn a reserve asset such&#8230;<\/p>\n","protected":false},"author":1,"featured_media":433365,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMTdlZmY0NjUtYmRhZS00NTc4LWFiOGQtZTI0NjE1NzNkOTEzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,75493,122378,117,72366],"class_list":["post-433364","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-stablecoin","tag-terra","tag-business","tag-data"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/433364","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=433364"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/433364\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/433365"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=433364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=433364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=433364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}