Leading cryptocurrency bitcoin‘of (BTC) as the steep fall continues to stablecoins the current is accelerating.
In particular, the interest in UST, one of the most popular stablecoins of the last period, has accelerated like never before.
UST Passes BUSD
The algorithmic stablecoin of the Terra ecosystem. TOP, It has been a hot topic lately.
CEO Do KwonAs can be expected, the fact that ‘s started to buy Bitcoin (BTC) for the algorithmic stablecoin and stated that it would do it with BTC collateral caused a great furor.
While the BTC price has been rising with these billion-dollar purchases for a while, TOP also benefited from this situation. UST has increased its total supply to over 17 billion dollars and is now over 17 billion dollars in total value.
UST is the world’s 3rd largest stablecoin Binance USDto (BUSD) And so he managed to get rid of it.
Currently, BUSD has a total value of $17.465 billion, while UST has a difference of approximately $140 million.
Rising to the 13th largest cryptocurrency ranking, UST may even enter the top 10 with this trend. Now the 3rd largest. stablecoin If the closest competitor ahead of UST in position USDC seen as. USDC, With a supply of $50 billion USDT has a total value of 82 billion dollars.
The total value of stablecoins in the top 20 166 billion dollars It even seems to be over the top.
While the market share of stablecoins is increasing, the market share of leading cryptocurrencies such as BTC is decreasing.